Market Insights Consumer Food Convenience Food

Ready-to-Eat Meals - Lesotho

Lesotho

Revenue in the Ready-to-Eat Meals market amounts to €34.89m in 2024. The market is expected to grow annually by 7.95% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€137bn in 2024).
In relation to total population figures, per person revenues of €14.81 are generated in 2024.
In the Ready-to-Eat Meals market, volume is expected to amount to 9.84m kg by 2029. The Ready-to-Eat Meals market is expected to show a volume growth of 3.1% in 2025.
The average volume per person in the Ready-to-Eat Meals market is expected to amount to 3.7kg in 2024.

Key regions: Russia, United States, United Kingdom, Canada, India

Mercado

Región

Comparación de regiones

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Analyst Opinion

The Ready-to-Eat Meals market in Lesotho is experiencing minimal growth due to factors such as low consumer awareness and lack of infrastructure for convenient food services. Despite this, convenience food market in Lesotho shows potential for growth in the future.

Customer preferences: The convenience and portability of ready-to-eat meals have become increasingly appealing to busy consumers in Lesotho. This trend is further reinforced by the rising urbanization and changing family dynamics, with more individuals living alone or in smaller households. As a result, there has been a growing demand for single-serve and microwavable options that cater to individual needs and preferences. Additionally, with the increasing emphasis on health and wellness, there has been a shift towards healthier and more nutritious ready-to-eat meals, with a focus on locally sourced and organic ingredients. This trend is also influenced by cultural preferences for fresh and homemade food, leading to the incorporation of traditional flavors and recipes in pre-packaged meals.

Trends in the market: In Lesotho, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is experiencing a shift towards healthier options. With a growing emphasis on health and wellness, consumers are seeking out ready-to-eat meals that are lower in calories, sugar, and preservatives. This trend is significant for industry stakeholders as it presents opportunities for companies to develop and market healthier options. It also has implications for the traditional convenience food market, as consumers are becoming more health-conscious and may be less likely to purchase processed and unhealthy foods. Additionally, with the rise of e-commerce and online grocery shopping, there is potential for ready-to-eat meal companies to reach a larger consumer base.

Local special circumstances: In Lesotho, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is influenced by the country's mountainous terrain and limited arable land, leading to a heavy reliance on imported food products. Additionally, the cultural preference for communal meals and traditional cooking methods has resulted in a slow adoption of convenience food options. The government's efforts to promote local agriculture and reduce food imports have also impacted the market, with a focus on promoting locally sourced and prepared meals.

Underlying macroeconomic factors: The Ready-to-Eat Meals Market of the Convenience Food Market within The Food market in Lesotho is influenced by macroeconomic factors such as economic growth, consumer spending, and government policies. The country's economic growth and rising disposable incomes have resulted in an increased demand for convenience foods, including ready-to-eat meals. This trend is expected to continue as Lesotho's economy continues to grow. Additionally, favorable government policies, such as tax incentives for food manufacturers, are encouraging investment in the convenience food market, further driving its growth. However, challenges such as high import tariffs on food products and limited access to credit for small-scale food producers may hinder market growth.

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.