Ghana: Canned Food Market 2024

Canned Food Market Size in Ghana

The Ghanian canned food market surged to $X in 2021, growing by 24% against the previous year. Overall, the total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -17.3% against 2019 indices. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Canned Food Production in Ghana

In value terms, canned food production surged to $X in 2021 estimated in export price. In general, the total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -18.3% against 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of 75%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Canned Food Exports

Exports from Ghana

In 2021, exports of canned food from Ghana shrank dramatically to X tons, with a decrease of -38.6% on the year before. In general, exports recorded a noticeable setback. The most prominent rate of growth was recorded in 2017 when exports increased by 22% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, canned food exports declined remarkably to $X in 2021. Over the period under review, exports saw a perceptible setback. The pace of growth appeared the most rapid in 2013 with an increase of 33% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Cote d'Ivoire (X tons), Senegal (X tons) and Gabon (X tons) were the main destinations of canned food exports from Ghana, together accounting for 49% of total exports. Guinea, Cameroon, Sierra Leone, Burkina Faso, Congo, Mali, the UK, Equatorial Guinea and Liberia lagged somewhat behind, together accounting for a further 49%.

From 2012 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +17.7%), while the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Senegal ($X) and Sierra Leone ($X) constituted the largest markets for canned food exported from Ghana worldwide, with a combined 65% share of total exports. These countries were followed by Gabon, Guinea, Cameroon, Burkina Faso, Congo, Liberia, Mali, Equatorial Guinea and the UK, which together accounted for a further 78%.

The UK, with a CAGR of +17.1%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average canned food export price stood at $X per ton in 2020, dropping by -27.9% against the previous year. Overall, the export price recorded a abrupt decrease. The most prominent rate of growth was recorded in 2013 when the average export price increased by 17% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2020, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2020, the country with the highest price was Liberia ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Liberia (+4.7%), while the prices for the other major destinations experienced a decline.

Canned Food Imports

Imports into Ghana

In 2021, overseas purchases of canned food decreased by -21.5% to X tons, falling for the second year in a row after four years of growth. In general, imports, however, posted noticeable growth. The pace of growth was the most pronounced in 2019 when imports increased by 48% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, canned food imports shrank to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 41% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2020, Cote d'Ivoire (X tons) constituted the largest canned food supplier to Ghana, accounting for a 23% share of total imports. Moreover, canned food imports from Cote d'Ivoire exceeded the figures recorded by the second-largest supplier, France (X tons), threefold. Italy (X tons) ranked third in terms of total imports with a 6.4% share.

From 2012 to 2020, the average annual rate of growth in terms of volume from Cote d'Ivoire amounted to +28.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+13.6% per year) and Italy (-1.8% per year).

In value terms, Cote d'Ivoire ($X) constituted the largest supplier of canned food to Ghana, comprising 26% of total imports. The second position in the ranking was held by Nigeria ($X), with a 6% share of total imports. It was followed by Mexico, with a 5% share.

From 2012 to 2020, the average annual rate of growth in terms of value from Cote d'Ivoire amounted to +19.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Nigeria (+73.3% per year) and Mexico (+44.2% per year).

Import Prices by Country

The average canned food import price stood at $X per ton in 2020, waning by -5.4% against the previous year. Overall, the import price continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2018 an increase of 8.3% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2020, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Mexico ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Belgium (+7.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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