Ghana: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in Ghana

The Ghanian sauce and seasoning market totaled $X in 2021, standing approx. at the previous year. In general, the total consumption indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -6.0% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Sauce And Seasoning Production in Ghana

In value terms, sauce and seasoning production expanded to $X in 2021 estimated in export price. Overall, the total production indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -4.1% against 2019 indices. The growth pace was the most rapid in 2015 when the production volume increased by 97%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Sauce And Seasoning Exports

Exports from Ghana

In 2021, approx. X tons of sauces and seasonings were exported from Ghana; waning by -45.8% compared with 2020. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 135%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, sauce and seasoning exports contracted markedly to $X in 2021. Over the period under review, exports, however, continue to indicate a pronounced expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 112%. Over the period under review, the exports hit record highs at $X in 2020, and then fell rapidly in the following year.

Exports by Country

The United States (X tons) was the main destination for sauce and seasoning exports from Ghana, with a 44% share of total exports. Moreover, sauce and seasoning exports to the United States exceeded the volume sent to the second major destination, the UK (X tons), twofold. Canada (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +25.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+25.5% per year) and Canada (+43.1% per year).

In value terms, the largest markets for sauce and seasoning exported from Ghana were the United States ($X), Canada ($X) and the UK ($X), together accounting for 81% of total exports.

Canada, with a CAGR of +52.6%, 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 sauce and seasoning export price stood at $X per ton in 2021, rising by 14% against the previous year. In general, export price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sauce and seasoning export price increased by +47.1% against 2018 indices. The growth pace was the most rapid in 2015 an increase of 64%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Sauce And Seasoning Imports

Imports into Ghana

In 2021, after two years of growth, there was significant decline in purchases abroad of sauces and seasonings, when their volume decreased by -23% to X tons. Over the period under review, imports, however, recorded a tangible increase. The most prominent rate of growth was recorded in 2014 when imports increased by 109% against the previous year. Imports peaked at X tons in 2020, and then fell dramatically in the following year.

In value terms, sauce and seasoning imports contracted significantly to $X in 2021. Overall, imports showed a mild setback. The growth pace was the most rapid in 2014 with an increase of 106% against the previous year. Over the period under review, imports reached the maximum at $X in 2020, and then shrank sharply in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of sauce and seasoning to Ghana, with a 54% share of total imports. Moreover, sauce and seasoning imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fivefold. The third position in this ranking was taken by Nigeria (X tons), with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+6.1% per year) and Nigeria (-0.9% per year).

In value terms, China ($X) constituted the largest supplier of sauces and seasonings to Ghana, comprising 41% of total imports. The second position in the ranking was held by Nigeria ($X), with a 14% share of total imports. It was followed by the United Arab Emirates, with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Nigeria (-3.1% per year) and the United Arab Emirates (+3.2% per year).

Import Prices by Country

The average sauce and seasoning import price stood at $X per ton in 2021, which is down by -7.5% against the previous year. In general, the import price recorded a perceptible downturn. The most prominent rate of growth was recorded in 2020 an increase of 13% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+3.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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