Report Update Nov 1, 2024

Ghana - Whey - Market Analysis, Forecast, Size, Trends and Insights

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Ghana: Whey Market 2024

Whey Market Size in Ghana

In 2022, after two years of growth, there was significant decline in the Ghanian whey market, when its value decreased by -13.3% to $X. In general, consumption, however, recorded prominent growth. Whey consumption peaked at $X in 2021, and then dropped in the following year.

Whey Exports

Exports from Ghana

In 2022, overseas shipments of whey were finally on the rise to reach X kg after four years of decline. Overall, exports, however, saw a dramatic setback. The pace of growth was the most pronounced in 2015 with an increase of 262%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, whey exports dropped slightly to $X in 2022. Over the period under review, exports, however, showed a sharp descent. The pace of growth was the most pronounced in 2015 with an increase of 163% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X kg) was the main destination for whey exports from Ghana, accounting for a approx. 4.5% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Singapore stood at -6.7%.

In value terms, Singapore ($X) also remains the key foreign market for whey exports from Ghana.

From 2012 to 2022, the average annual growth rate of value to Singapore stood at -7.7%.

Export Prices by Country

The average whey export price stood at $X per ton in 2022, reducing by -4.4% against the previous year. Over the period under review, the export price recorded a deep slump. The pace of growth was the most pronounced in 2013 when the average export price increased by 36%. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Singapore.

From 2012 to 2022, the rate of growth in terms of prices for Singapore amounted to -1.0% per year.

Whey Imports

Imports into Ghana

In 2022, after three years of growth, there was significant decline in overseas purchases of whey, when their volume decreased by -8.1% to X tons. Over the period under review, imports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2015 when imports increased by 65%. Imports peaked at X tons in 2021, and then declined in the following year.

In value terms, whey imports shrank rapidly to $X in 2022. In general, imports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of 96%. Over the period under review, imports attained the peak figure at $X in 2021, and then shrank dramatically in the following year.

Imports by Country

The United States (X tons), France (X tons) and Poland (X tons) were the main suppliers of whey imports to Ghana, together comprising 33% of total imports. Belgium, Germany, Turkey, Denmark, the UK, Canada, Portugal, Italy, Spain and Nigeria lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +32.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), the United States ($X) and Poland ($X) appeared to be the largest whey suppliers to Ghana, with a combined 28% share of total imports. Belgium, the UK, Denmark, Germany, Turkey, Portugal, Italy, Nigeria, Canada and Spain lagged somewhat behind, together comprising a further 21%.

Turkey, with a CAGR of +26.8%, recorded the highest growth rate of the value of imports, among 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 2022, the average whey import price amounted to $X per ton, waning by -7.6% against the previous year. In general, the import price showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2017 when the average import price increased by 26% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 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 ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for whey in the world?

The countries with the highest volumes of whey consumption in 2021 were China, the Netherlands and France, with a combined 39% share of global consumption. These countries were followed by Germany, Italy, Denmark, Indonesia, the Czech Republic, Malaysia, the UK, Australia, Poland and Thailand, which together accounted for a further 36%.

What are the largest producers of whey in the world?

The countries with the highest volumes of whey production in 2021 were France, the United States and Italy, with a combined 39% share of global production. Germany, the Netherlands, Poland, Belgium, Belarus, the Czech Republic, Ireland, Australia, the UK and Argentina lagged somewhat behind, together accounting for a further 41%.

What are the leading suppliers of whey to Ghana?

In value terms, the largest whey suppliers to Ghana were Poland, France and the United States, together comprising 48% of total imports. These countries were followed by Spain, Turkey, Belgium, Ireland, Denmark, Germany, the Czech Republic and Portugal, which together accounted for a further 42%.

What is the average export price for whey in Ghana?

The average whey export price stood at $1,035 per ton in 2021, almost unchanged from the previous year.

What is the average import price for whey in Ghana?

The average whey import price stood at $969 per ton in 2021, shrinking by -9.2% against the previous year.

This report provides an in-depth analysis of the whey market in Ghana. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 890 - Whey, Condensed
FCL 900 - Dry Whey

Country coverage:

Ghana

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ghana
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023