Ghana: Food Manufacture Machinery Market 2024

Food Manufacture Machinery Market Size in Ghana

The Ghanian food manufacture machinery market surged to $X in 2021, with an increase of 60% 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). Over the period under review, consumption recorded a buoyant increase. Over the period under review, the market hit record highs in 2021 and is likely to see steady growth in the immediate term.

Food Manufacture Machinery Exports

Exports from Ghana

Food manufacture machinery exports from Ghana dropped markedly to X units in 2021, shrinking by -86.4% compared with the previous year's figure. Overall, exports showed a noticeable descent. The pace of growth appeared the most rapid in 2016 with an increase of 516%. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, food manufacture machinery exports dropped significantly to $X in 2021. In general, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2017 with an increase of 437% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Canada (X units) was the main destination for food manufacture machinery exports from Ghana, with a 67% share of total exports. Moreover, food manufacture machinery exports to Canada exceeded the volume sent to the second major destination, Italy (X units), sevenfold. Burkina Faso (X units) ranked third in terms of total exports with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Canada totaled +21.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-20.5% per year) and Burkina Faso (-7.0% per year).

In value terms, the largest markets for food manufacture machinery exported from Ghana were Canada ($X), Italy ($X) and Cote d'Ivoire ($X), together accounting for 90% of total exports. These countries were followed by South Africa, Mali and Burkina Faso, which together accounted for a further 3.1%.

South Africa, with a CAGR of +59.8%, recorded the highest growth rate of 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 food manufacture machinery export price stood at $X per unit in 2021, reducing by -23.9% against the previous year. Over the period under review, the export price continues to indicate a abrupt slump. The growth pace was the most rapid in 2017 an increase of 35% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per unit), while the average price for exports to Burkina Faso ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+1,093.7%), while the prices for the other major destinations experienced more modest paces of growth.

Food Manufacture Machinery Imports

Imports into Ghana

Food manufacture machinery imports into Ghana surged to X units in 2021, growing by 22% on 2020 figures. In general, imports enjoyed a strong expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 265% against the previous year. Over the period under review, imports attained the maximum at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, food manufacture machinery imports soared to $X in 2021. Over the period under review, imports saw a prominent expansion. The pace of growth was the most pronounced in 2017 with an increase of 292%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

South Africa (X units), China (X units) and Italy (X units) were the main suppliers of food manufacture machinery imports to Ghana, together accounting for 70% of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +40.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Italy ($X) and Turkey ($X) appeared to be the largest food manufacture machinery suppliers to Ghana, together comprising 51% of total imports.

China, with a CAGR of +63.2%, 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 2021, the average food manufacture machinery import price amounted to $X per unit, rising by 130% against the previous year. In general, the import price saw a relatively flat trend pattern. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Thailand ($X per unit), while the price for South Africa ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+28.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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