Ghana: Beer Market 2024

Beer Market Size in Ghana

The Ghanian beer market reduced to $X in 2022, which is down by -7.7% against the previous year. Over the period under review, the total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +8.7% against 2020 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Beer Production in Ghana

In value terms, beer production dropped to $X in 2022 estimated in export price. Over the period under review, production recorded a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of 91% against the previous year. Beer production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Beer Exports

Exports from Ghana

In 2022, shipments abroad of beer decreased by -29.5% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports showed a noticeable decline. The pace of growth appeared the most rapid in 2014 with an increase of 801%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, beer exports shrank markedly to $X in 2022. Over the period under review, exports showed a pronounced setback. The most prominent rate of growth was recorded in 2014 with an increase of 566%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for beer exports from Ghana, accounting for a 36% share of total exports. Moreover, beer exports to the United States exceeded the volume sent to the second major destination, the UK (X tons), twofold. The Netherlands (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+4.6% per year) and the Netherlands (+68.6% per year).

In value terms, the United States ($X) remains the key foreign market for beer exports from Ghana, comprising 34% of total exports. The second position in the ranking was held by the UK ($X), with a 16% share of total exports. It was followed by the Netherlands, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at -1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+0.4% per year) and the Netherlands (+27.1% per year).

Export Prices by Country

The average beer export price stood at $X per ton in 2022, increasing by 11% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 279% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Belgium ($X per ton) and the Netherlands ($X per ton), while the average price for exports to Niger ($X per ton) and Israel ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+11.9%), while the prices for the other major destinations experienced mixed trend patterns.

Beer Imports

Imports into Ghana

In 2022, after two years of growth, there was significant decline in overseas purchases of beer, when their volume decreased by -33% to X tons. Over the period under review, imports, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2021 when imports increased by 195%. As a result, imports reached the peak of X tons, and then fell markedly in the following year.

In value terms, beer imports reduced notably to $X in 2022. Overall, imports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by 204% against the previous year. As a result, imports reached the peak of $X, and then declined dramatically in the following year.

Imports by Country

In 2022, Denmark (X tons) constituted the largest supplier of beer to Ghana, accounting for a 27% share of total imports. Moreover, beer imports from Denmark exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Denmark stood at +20.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+1.7% per year) and the United States (+120.8% per year).

In value terms, Denmark ($X), the Netherlands ($X) and the United States ($X) appeared to be the largest beer suppliers to Ghana, with a combined 46% share of total imports.

In terms of the main suppliers, the United States, with a CAGR of +158.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average beer import price stood at $X per ton in 2022, leveling off at the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 15% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then contracted modestly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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