Ghana: Yoghurt Market 2024

Yoghurt Market Size in Ghana

For the sixth consecutive year, the Ghanian yoghurt market recorded decline in sales value, which decreased by -0.5% to $X in 2022. In general, consumption showed a abrupt decrease. The most prominent rate of growth was recorded in 2016 with an increase of 7.6% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Yoghurt Production in Ghana

In value terms, yoghurt production rose significantly to $X in 2022 estimated in export price. In general, production, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2020 when the production volume increased by 23%. Yoghurt production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Yoghurt Exports

Exports from Ghana

Yoghurt exports from Ghana surged to X tons in 2022, growing by 28% on 2021. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 337%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, yoghurt exports expanded remarkably to $X in 2022. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 437%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Togo (X tons) was the main destination for yoghurt exports from Ghana, accounting for a 66% share of total exports. Moreover, yoghurt exports to Togo exceeded the volume sent to the second major destination, Burkina Faso (X tons), sixfold. The third position in this ranking was held by Benin (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Togo totaled +36.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (+75.0% per year) and Benin (+19.6% per year).

In value terms, Togo ($X) remains the key foreign market for yoghurt exports from Ghana, comprising 71% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 10% share of total exports. It was followed by Benin, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Togo amounted to +47.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+22.0% per year) and Benin (+40.3% per year).

Export Prices by Country

The average yoghurt export price stood at $X per ton in 2022, dropping by -14.4% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by 29%. As a result, the export price reached the peak level of $X per ton, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Togo ($X per ton), while the average price for exports to Burkina Faso ($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 (+20.8%), while the prices for the other major destinations experienced more modest paces of growth.

Yoghurt Imports

Imports into Ghana

Yoghurt imports into Ghana shrank modestly to X tons in 2022, which is down by -4.6% compared with the year before. In general, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 367% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then shrank in the following year.

In value terms, yoghurt imports reduced to $X in 2022. Over the period under review, imports, however, saw a significant expansion. The growth pace was the most rapid in 2013 with an increase of 386% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X tons) constituted the largest supplier of yoghurt to Ghana, with a 61% share of total imports. Moreover, yoghurt imports from Nigeria exceeded the figures recorded by the second-largest supplier, Benin (X tons), twofold. The third position in this ranking was held by China (X tons), with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Nigeria totaled +61.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Benin (+35.0% per year) and China (+35.8% per year).

In value terms, Nigeria ($X) constituted the largest supplier of yoghurt to Ghana, comprising 68% of total imports. The second position in the ranking was held by Benin ($X), with a 13% share of total imports. It was followed by China, with a 4.4% share.

From 2012 to 2022, the average annual growth rate of value from Nigeria stood at +64.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Benin (+43.6% per year) and China (+52.0% per year).

Import Prices by Country

The average yoghurt import price stood at $X per ton in 2022, with a decrease of -2.9% against the previous year. Over the period under review, the import price saw a perceptible slump. The growth pace was the most rapid in 2016 when the average import price increased by 16%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

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 Spain ($X per ton), while the price for Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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