Bread & Cereal Products - Lesotho

Lesotho

Revenue in the Bread & Bakery Products market amounts to €81.66m in 2024. The market is expected to grow annually by 7.82% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€255bn in 2024).
In relation to total population figures, per person revenues of €34.66 are generated in 2024.
In the Bread & Bakery Products market, volume is expected to amount to 52.93m kg by 2029. The Bread & Bakery Products market is expected to show a volume growth of 3.1% in 2025.
The average volume per person in the Bread & Bakery Products market is expected to amount to 19.8kg in 2024.

Key regions: Philippines, United States, Canada, India, China

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Bread & Cereal Products market in Lesotho is experiencing minimal growth due to factors such as limited consumer awareness, low purchasing power, and lack of access to digital technologies. This is further impacted by the country's dependence on imported grains and cereals, leading to higher prices for these products. However, initiatives to promote local production and increase health awareness could potentially drive growth in this market in the future.

Customer preferences: As consumer awareness of healthy eating continues to grow, there has been an increase in demand for gluten-free and organic bread and cereal products in Lesotho. This trend is driven by a growing interest in sustainable and natural food options, as well as a rise in health-conscious consumers. Additionally, there has been a shift towards convenience and on-the-go options, with the popularity of breakfast bars and single-serve cereal cups. This is influenced by busy lifestyles and the need for quick and easy meal solutions.

Trends in the market: The Bread & Cereal Products Market within The Food market in Lesotho is experiencing a surge in demand for healthier and more nutritious options, as consumers become increasingly health-conscious. This trend is reflected in the rise of gluten-free, organic, and whole grain options in the market. As a result, industry stakeholders are investing in innovative product development and marketing strategies to cater to this growing demand. Additionally, there is a growing trend of online shopping and home delivery services, as consumers continue to prioritize convenience and safety amidst the COVID-19 pandemic. This shift towards digitalization is also creating opportunities for online advertising and brand visibility.

Local special circumstances: In Lesotho, the Bread & Cereal Products Market within The Food market is heavily influenced by the country's mountainous terrain, which limits agricultural land and makes it difficult to transport goods to and from urban areas. As a result, local production and consumption of bread and cereal products are high, with a strong focus on traditional grains like maize and sorghum. Additionally, the country's cultural preference for porridge as a staple food contributes to the dominance of cereal products in the market. These unique factors contribute to the market dynamics and demand for bread and cereal products in Lesotho.

Underlying macroeconomic factors: The performance of the Bread & Cereal Products Market within The Food market in Lesotho is heavily influenced by macroeconomic factors such as national economic health, government fiscal policies, and global economic trends. The country's stable economic growth and favorable regulatory environment have supported the growth of the market. However, limited healthcare funding and challenges in accessing healthcare services in the country have hindered market growth. Additionally, the rising prevalence of chronic diseases and the aging population in Lesotho have increased the demand for bread and cereal products as a convenient and affordable source of nutrition.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.