Ghana: Sugary Soft Drink Market 2024

Sugary Soft Drink Market Size in Ghana

The Ghanian sugary soft drink market dropped to $X in 2022, waning by -11.9% against the previous year. Overall, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +15.4% against 2020 indices. Sugary soft drink consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Sugary Soft Drink Production in Ghana

In value terms, sugary soft drink production dropped to $X in 2022 estimated in export price. Over the period under review, the total production indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +19.6% against 2020 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 65%. Sugary soft drink production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Sugary Soft Drink Exports

Exports from Ghana

In 2022, shipments abroad of sugary soft drinks increased by 15% to X litres, rising for the second year in a row after three years of decline. Overall, exports continue to indicate significant growth. The growth pace was the most rapid in 2016 with an increase of 551%. Over the period under review, the exports hit record highs at X litres in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, sugary soft drink exports plummeted to $X in 2022. In general, exports posted significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 327% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Togo (X litres) was the main destination for sugary soft drink exports from Ghana, with a 79% share of total exports. Moreover, sugary soft drink exports to Togo exceeded the volume sent to the second major destination, the Netherlands (X litres), more than tenfold. Niger (X litres) ranked third in terms of total exports with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Togo amounted to +102.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+34.2% per year) and Niger (+53.1% per year).

In value terms, the largest markets for sugary soft drink exported from Ghana were the Netherlands ($X), Togo ($X) and the United States ($X), with a combined 61% share of total exports.

In terms of the main countries of destination, Togo, with a CAGR of +82.4%, recorded the highest rates of growth with regard to 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

In 2022, the average sugary soft drink export price amounted to $X per litre, declining by -39.9% against the previous year. In general, the export price recorded a deep slump. The pace of growth was the most pronounced in 2018 an increase of 120% against the previous year. Over the period under review, the average export prices hit record highs at $X per litre in 2014; however, from 2015 to 2022, the 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 the United States ($X per litre), while the average price for exports to Togo ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+19.6%), while the prices for the other major destinations experienced more modest paces of growth.

Sugary Soft Drink Imports

Imports into Ghana

In 2022, after four years of growth, there was decline in supplies from abroad of sugary soft drinks, when their volume decreased by -1.6% to X litres. Over the period under review, imports, however, saw prominent growth. The pace of growth appeared the most rapid in 2013 with an increase of 44%. Imports peaked at X litres in 2021, and then declined in the following year.

In value terms, sugary soft drink imports reduced markedly to $X in 2022. In general, imports, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2014 when imports increased by 81%. Over the period under review, imports attained the maximum at $X in 2021, and then dropped dramatically in the following year.

Imports by Country

Togo (X litres), Spain (X litres) and Germany (X litres) were the main suppliers of sugary soft drink imports to Ghana, together accounting for 50% of total imports. Poland, Austria, the UK, Italy and South Africa lagged somewhat behind, together accounting for a further 10%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +63.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sugary soft drink suppliers to Ghana were Togo ($X), Spain ($X) and the UK ($X), with a combined 47% share of total imports. Germany, Austria, Poland, Italy and South Africa lagged somewhat behind, together accounting for a further 15%.

Among the main suppliers, Poland, with a CAGR of +60.1%, saw the highest growth rate of the value of imports, 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 sugary soft drink import price amounted to $X per litre, with a decrease of -17.2% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 49% against the previous year. Over the period under review, average import prices attained the peak figure at $X per litre in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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