Ghana: Market for Mixed Condiments, Sauses and Seasonings 2024

Market Size for Mixed Condiments, Sauses and Seasonings in Ghana

The Ghanian market for mixed condiments, sauses and seasonings amounted to $X in 2022, standing approx. at the previous year. The market value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Mixed condiment, sause and seasoning consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Mixed Condiments, Sauses and Seasonings in Ghana

In value terms, mixed condiment, sause and seasoning production amounted to $X in 2022 estimated in export price. Over the period under review, the total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.2% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 51% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Exports of Mixed Condiments, Sauses and Seasonings

Exports from Ghana

In 2022, the amount of mixed condiments, sauses and seasonings exported from Ghana surged to X tons, increasing by 48% against the year before. In general, exports continue to indicate a temperate expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 176%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, mixed condiment, sause and seasoning exports surged to $X in 2022. Overall, exports showed buoyant growth. The pace of growth appeared the most rapid in 2016 when exports increased by 135%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for mixed condiment, sause and seasoning exports from Ghana, accounting for a 55% share of total exports. Moreover, mixed condiment, sause and seasoning exports to the United States exceeded the volume sent to the second major destination, the UK (X tons), threefold. The third position in this ranking was held by Canada (X tons), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +29.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+21.7% per year) and Canada (+38.6% per year).

In value terms, the largest markets for mixed condiment, sause and seasoning exported from Ghana were the United States ($X), Canada ($X) and the UK ($X), together comprising 82% of total exports.

Among the main countries of destination, Canada, with a CAGR of +47.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for mixed condiments, sauses and seasonings stood at $X per ton in 2022, which is down by -2.4% against the previous year. Overall, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mixed condiment, sause and seasoning export price increased by +73.2% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the average export price increased by 83% 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 overseas markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to the UK ($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 Burkina Faso (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mixed Condiments, Sauses and Seasonings

Imports into Ghana

In 2022, mixed condiment, sause and seasoning imports into Ghana expanded notably to X tons, surging by 5.3% against the previous year. Overall, imports showed a pronounced expansion. The pace of growth was the most pronounced in 2017 when imports increased by 97% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, mixed condiment, sause and seasoning imports rose to $X in 2022. Over the period under review, imports enjoyed a notable expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 86%. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of mixed condiment, sause and seasoning to Ghana, with a 60% share of total imports. Moreover, mixed condiment, sause and seasoning imports from China exceeded the figures recorded by the second-largest supplier, Belgium (X tons), ninefold. The Netherlands (X tons) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+167.0% per year) and the Netherlands (-2.1% per year).

In value terms, China ($X) constituted the largest supplier of mixed condiments, sauses and seasonings to Ghana, comprising 49% of total imports. The second position in the ranking was taken by Belgium ($X), with an 8.6% share of total imports. It was followed by Norway, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+143.0% per year) and Norway (+29.3% per year).

Import Prices by Country

The average import price for mixed condiments, sauses and seasonings stood at $X per ton in 2022, declining by -2.3% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by 16%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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