Ghana: Market for Buttermilk And Buttermilk Powder 2024

Market Size for Buttermilk And Buttermilk Powder in Ghana

The Ghanian buttermilk and buttermilk powder market shrank modestly to $X in 2022, remaining constant against the previous year. In general, consumption continues to indicate a noticeable downturn. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Buttermilk And Buttermilk Powder in Ghana

In value terms, buttermilk and buttermilk powder production dropped modestly to $X in 2022 estimated in export price. Overall, production showed a pronounced reduction. The most prominent rate of growth was recorded in 2014 when the production volume increased by 60%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Exports of Buttermilk And Buttermilk Powder

Exports from Ghana

Buttermilk and buttermilk powder exports from Ghana fell notably to X tons in 2022, with a decrease of -49.3% compared with the year before. Overall, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 7,142% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, buttermilk and buttermilk powder exports reduced sharply to $X in 2022. Over the period under review, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 7,217%. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Togo (X tons) was the main destination for buttermilk and buttermilk powder exports from Ghana, with a 92% share of total exports. Moreover, buttermilk and buttermilk powder exports to Togo exceeded the volume sent to the second major destination, Burkina Faso (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Togo totaled +33.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (+61.5% per year) and Nigeria (-9.6% per year).

In value terms, Togo ($X) remains the key foreign market for buttermilk and buttermilk powder exports from Ghana, comprising 91% of total exports. The second position in the ranking was taken by Nigeria ($X), with an 8.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Togo amounted to +39.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (-11.8% per year) and Burkina Faso (+23.5% per year).

Export Prices by Country

The average buttermilk and buttermilk powder export price stood at $X per ton in 2022, standing approx. at the previous year. Overall, the export price continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2015 an increase of 17% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while the average price for exports to Burkina Faso ($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 Togo (+4.7%), while the prices for the other major destinations experienced a decline.

Imports of Buttermilk And Buttermilk Powder

Imports into Ghana

In 2022, approx. X tons of buttermilk and buttermilk powder were imported into Ghana; picking up by 7.5% compared with the year before. Overall, imports posted buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 67%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, buttermilk and buttermilk powder imports rose sharply to $X in 2022. In general, imports continue to indicate a noticeable increase. The pace of growth was the most pronounced in 2020 when imports increased by 114%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

The UK (X tons), Spain (X tons) and Germany (X tons) were the main suppliers of buttermilk and buttermilk powder imports to Ghana, with a combined 48% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +85.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), New Zealand ($X) and Spain ($X) constituted the largest buttermilk and buttermilk powder suppliers to Ghana, with a combined 52% share of total imports. The UK and China lagged somewhat behind, together comprising a further 9.5%.

The UK, with a CAGR of +73.7%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average buttermilk and buttermilk powder import price amounted to $X per ton, with an increase of 4.9% against the previous year. Overall, the import price, however, recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2020 an increase of 28% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 New Zealand ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+10.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :