Ghana: Market for Spirits, Liqueurs And Other Spirituous Beverages 2024

Market Size for Spirits, Liqueurs And Other Spirituous Beverages in Ghana

The Ghanian market for spirits, liqueurs and other spirituous beverages fell to $X in 2022, which is down by -6.6% 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 +3.4% 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 +9.9% against 2020 indices. Consumption of peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Production of Spirits, Liqueurs And Other Spirituous Beverages in Ghana

In value terms, production of spirits, liqueurs and other spirituous beverages contracted to $X in 2022 estimated in export price. In general, the total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.3% 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 +2.7% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 48% against the previous year. Production of peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Exports of Spirits, Liqueurs And Other Spirituous Beverages

Exports from Ghana

Exports of spirits, liqueurs and other spirituous beverages from Ghana rose rapidly to X litres in 2022, growing by 9.3% compared with the previous year's figure. Over the period under review, exports enjoyed buoyant growth. The growth pace was the most rapid in 2017 when exports increased by 262%. Over the period under review, the exports of attained the peak figure at X litres in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of spirits, liqueurs and other spirituous beverages expanded slightly to $X in 2022. Overall, exports, however, showed a drastic downturn. The growth pace was the most rapid in 2017 when exports increased by 197% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Togo (X litres) was the main destination for exports of spirits, liqueurs and other spirituous beverages from Ghana, with a 68% share of total exports. Moreover, exports of spirits, liqueurs and other spirituous beverages to Togo exceeded the volume sent to the second major destination, Cote d'Ivoire (X litres), threefold. Nigeria (X litres) ranked third in terms of total exports with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Togo totaled +10.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+30.9% per year) and Nigeria (-14.9% per year).

In value terms, Togo ($X), Cote d'Ivoire ($X) and Nigeria ($X) appeared to be the largest markets for spirits, liqueurs and other spirituous beverages exported from Ghana worldwide, together comprising 87% of total exports.

Among the main countries of destination, Cote d'Ivoire, with a CAGR of +25.7%, 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 mixed trend patterns.

Export Prices by Country

The average export price for spirits, liqueurs and other spirituous beverages stood at $X per litre in 2022, reducing by -5.5% against the previous year. Over the period under review, the export price faced a abrupt descent. The pace of growth appeared the most rapid in 2013 when the average export price increased by 21% against the previous year. As a result, the export price reached the peak level of $X per litre. From 2014 to 2022, the average export prices remained at a lower figure.

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 Spain ($X per litre), while the average price for exports to Togo ($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 Togo (-3.3%), while the prices for the other major destinations experienced a decline.

Imports of Spirits, Liqueurs And Other Spirituous Beverages

Imports into Ghana

After two years of growth, supplies from abroad of spirits, liqueurs and other spirituous beverages decreased by -31.5% to X litres in 2022. Overall, imports saw a perceptible setback. The pace of growth was the most pronounced in 2016 when imports increased by 165% against the previous year. Imports peaked at X litres in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, imports of spirits, liqueurs and other spirituous beverages fell to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 137% against the previous year. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

Belgium (X litres), Poland (X litres) and France (X litres) were the main suppliers of imports of spirits, liqueurs and other spirituous beverages to Ghana, together comprising 59% of total imports.

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 +23.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), France ($X) and Poland ($X) appeared to be the largest spirits, liqueurs and other spirituous beverages suppliers to Ghana, together accounting for 35% of total imports.

In terms of the main suppliers, Poland, with a CAGR of +25.7%, 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 import price for spirits, liqueurs and other spirituous beverages amounted to $X per litre, rising by 28% against the previous year. In general, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for spirits, liqueurs and other spirituous beverages increased by +112.0% against 2017 indices. The pace of growth was the most pronounced in 2019 an increase of 32% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see gradual growth in the immediate term.

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 South Africa ($X per litre), while the price for Poland ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+12.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform