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Mon - Fri, 9am - 6pm (EST)
Key regions: Singapore, Australia, China, Philippines, United Kingdom
The Beer market in Ghana has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.
Customer preferences: Ghanaians have traditionally had a strong preference for locally brewed beer, which has led to the dominance of domestic beer brands in the market. However, there has been a shift in customer preferences towards international beer brands, particularly those from Europe and America. This can be attributed to factors such as globalization, increased exposure to foreign cultures, and the perception of international beer brands as being of higher quality. As a result, international beer brands have been gaining market share in Ghana.
Trends in the market: One of the key trends in the Beer market in Ghana is the growing popularity of craft beer. Craft beer is gaining traction among consumers who are looking for unique and flavorful beer options. This trend is in line with the global craft beer movement, which has seen exponential growth in recent years. Craft breweries in Ghana are experimenting with different flavors and ingredients, offering consumers a wide range of choices. This trend is likely to continue as more consumers develop a taste for craft beer. Another trend in the market is the increasing demand for low-alcohol and non-alcoholic beer. Health-conscious consumers are seeking alternatives to traditional alcoholic beverages, and breweries in Ghana are responding to this demand by introducing low-alcohol and non-alcoholic beer options. This trend is also in line with global market trends, as more consumers around the world are opting for healthier beverage choices.
Local special circumstances: In addition to changing customer preferences, there are certain local special circumstances that are driving the growth of the Beer market in Ghana. One such circumstance is the growing middle class in the country. As disposable incomes rise, more Ghanaians are able to afford beer and other alcoholic beverages. This has led to an increase in beer consumption and a corresponding growth in the market. Another special circumstance is the influence of cultural and social factors. Beer is deeply ingrained in Ghanaian culture and is often consumed during social gatherings and celebrations. This cultural significance of beer has contributed to the steady demand for beer in the country.
Underlying macroeconomic factors: Several macroeconomic factors have also contributed to the growth of the Beer market in Ghana. The country has experienced stable economic growth in recent years, which has led to an increase in consumer spending power. Additionally, Ghana has a relatively young population, with a large proportion of the population falling within the legal drinking age. This demographic factor has created a large consumer base for the beer market. In conclusion, the Beer market in Ghana is experiencing growth due to changing customer preferences, including a shift towards international beer brands and the popularity of craft beer. Local special circumstances, such as the growing middle class and cultural factors, are also driving the market. Furthermore, underlying macroeconomic factors, such as stable economic growth and a young population, are contributing to the market's development.
Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.
Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.
Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.
Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)