Spreads & Sweeteners - Lesotho

Lesotho

Revenue in the Spreads & Sweeteners market amounts to €9.28m in 2024. The market is expected to grow annually by 8.01% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€132,300m in 2024).
In relation to total population figures, per person revenues of €3.94 are generated in 2024.
In the Spreads & Sweeteners market, volume is expected to amount to 4.39m kg by 2029. The Spreads & Sweeteners market is expected to show a volume growth of 4.1% in 2025.
The average volume per person in the Spreads & Sweeteners market is expected to amount to 1.6kg in 2024.

Key regions: Spain, Japan, China, Philippines, United Kingdom

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Food market in Lesotho has seen a steady growth in the Spreads and Sweeteners sub-markets, driven by factors such as increasing disposable income and changing dietary habits of consumers. However, the overall market growth rate is minimal due to challenges such as limited access to technology and infrastructure, high production costs, and the dominance of traditional food products in the market. Despite these challenges, the market is expected to continue to grow as consumers become more health-conscious and demand for healthier spreads and sweeteners increases.

Customer preferences: With a growing focus on health and wellness, consumers in Lesotho are increasingly seeking alternative sweeteners such as stevia and monk fruit as healthier options to traditional sugar. This trend is further driven by the rising prevalence of chronic diseases like diabetes, leading to a higher demand for low-calorie and natural sweeteners. Additionally, the market for nut and seed-based spreads is witnessing a surge in demand as consumers look for plant-based and protein-rich alternatives to traditional spreads like butter and margarine.

Trends in the market: In Lesotho, the Spreads & Sweeteners Market is seeing a rise in demand for healthier and natural alternatives to traditional spreads and sweeteners. This trend is driven by consumers' growing awareness of the negative health effects of processed foods and their desire for cleaner labels. As a result, there is a shift towards using natural ingredients such as honey and agave nectar in spreads and sweeteners. This trend is expected to continue as consumers prioritize health and wellness, presenting opportunities for industry stakeholders to innovate and cater to this demand. Additionally, this trend aligns with global movements towards clean eating and sustainable food production, further highlighting its significance in the industry. Industry players who are able to capitalize on this trend and offer healthier options stand to gain a competitive advantage in the market.

Local special circumstances: In Lesotho, the Spreads & Sweeteners market is heavily influenced by the country's unique geographical location within the mountainous region of southern Africa. This has led to a dependence on imported goods and a limited market for locally produced products. Additionally, the country's cultural preferences for traditional foods and sweeteners, such as sorghum and honey, have created a niche market for these products. Regulatory factors, such as import restrictions and food safety regulations, also play a significant role in shaping the market dynamics in Lesotho.

Underlying macroeconomic factors: The Spreads & Sweeteners Market within The Food market in Lesotho is affected by macroeconomic factors such as the country's economic stability, trade policies, and consumer purchasing power. With a growing economy and stable political environment, Lesotho presents opportunities for market growth. However, factors such as fluctuating sugar prices and import tariffs on sweeteners can impact market performance. Additionally, changing consumer preferences towards healthier options and the influence of global food trends can also affect the demand for spreads and sweeteners in the country.

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.