Ghana: Powdered Milk Market 2025

Powdered Milk Market Size in Ghana

The Ghanian powdered milk market shrank markedly to $X in 2022, waning by -17.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate a resilient increase. Powdered milk consumption peaked at $X in 2021, and then contracted sharply in the following year.

Powdered Milk Exports

Exports from Ghana

In 2022, exports of powdered milk from Ghana soared to X tons, with an increase of 281% on 2021. Overall, exports recorded strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, powdered milk exports soared to $X in 2022. In general, exports recorded perceptible growth. The most prominent rate of growth was recorded in 2019 with an increase of 260% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Togo (X tons) was the main destination for powdered milk exports from Ghana, with a 90% share of total exports. Moreover, powdered milk exports to Togo exceeded the volume sent to the second major destination, Nigeria (X tons), more than tenfold. The third position in this ranking was taken by Cote d'Ivoire (X tons), with a 2.7% share.

From 2012 to 2022, the average annual growth rate of volume to Togo amounted to +38.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+32.0% per year) and Cote d'Ivoire (+55.3% per year).

In value terms, Togo ($X) emerged as the key foreign market for powdered milk exports from Ghana, comprising 35% of total exports. The second position in the ranking was taken by Nigeria ($X), with a 17% share of total exports. It was followed by Cote d'Ivoire, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Togo stood at +23.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+26.4% per year) and Cote d'Ivoire (+51.2% per year).

Export Prices by Country

The average powdered milk export price stood at $X per ton in 2022, dropping by -68.7% against the previous year. Overall, the export price showed a abrupt downturn. The most prominent rate of growth was recorded in 2013 an increase of 41%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while the average price for exports to Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Angola (-2.2%), while the prices for the other major destinations experienced a decline.

Powdered Milk Imports

Imports into Ghana

In 2022, approx. X tons of powdered milk were imported into Ghana; waning by -10.5% on 2021. Over the period under review, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of 168% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then declined in the following year.

In value terms, powdered milk imports contracted dramatically to $X in 2022. In general, imports, however, saw a notable increase. The pace of growth appeared the most rapid in 2019 when imports increased by 150%. Over the period under review, imports attained the maximum at $X in 2021, and then dropped markedly in the following year.

Imports by Country

New Zealand (X tons), Ireland (X tons) and Germany (X tons) were the main suppliers of powdered milk imports to Ghana, together accounting for 44% of total imports. Belgium, Sweden, Poland, France, Australia, the UK, the Netherlands, Malaysia and Nigeria lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +51.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest powdered milk suppliers to Ghana were New Zealand ($X), Germany ($X) and Ireland ($X), with a combined 46% share of total imports. Belgium, Poland, Sweden, the UK, France, the Netherlands, Australia, Nigeria and Malaysia lagged somewhat behind, together accounting for a further 44%.

Sweden, with a CAGR of +43.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average powdered milk import price stood at $X per ton in 2022, which is down by -6% against the previous year. Overall, the import price continues to indicate a noticeable contraction. The pace of growth was the most pronounced in 2017 an increase of 19%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Australia ($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 UK (+0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :