Cider, Perry & Rice Wine - Ghana

The Cider, Perry & Rice Wine market in Ghana has been experiencing significant growth in recent years.

Customer preferences: Ghanaian consumers have shown a growing interest in alternative alcoholic beverages, such as cider, perry, and rice wine. This shift in preference can be attributed to several factors. Firstly, there is a growing trend towards healthier lifestyles, and these beverages are often perceived as being more natural and less processed compared to traditional alcoholic drinks. Additionally, the unique flavors and aromas of cider, perry, and rice wine appeal to consumers who are looking for new and exciting taste experiences.

Trends in the market: One of the key trends in the Cider, Perry & Rice Wine market in Ghana is the increasing availability and variety of these products. Both local and international brands have recognized the growing demand and have introduced a wide range of options to cater to different consumer preferences. This has led to a more competitive market, with companies vying for market share by offering innovative flavors and packaging. Another trend in the market is the rising popularity of craft cider, perry, and rice wine. Craft beverages are often associated with higher quality and artisanal production methods, which appeals to consumers who are willing to pay a premium for a unique and authentic drinking experience. This trend is driven by the desire for unique and locally-produced products, as well as the growing interest in supporting small-scale producers.

Local special circumstances: Ghana has a rich agricultural heritage, with a wide variety of fruits and grains grown in the country. This has contributed to the availability of locally-sourced ingredients for the production of cider, perry, and rice wine. Local producers have capitalized on this by using traditional recipes and locally-grown ingredients to create unique and authentic products. This has not only helped to differentiate their offerings in the market but has also contributed to the growth of the local agricultural sector. Furthermore, Ghana has a vibrant tourism industry, with many visitors seeking out authentic cultural experiences. The Cider, Perry & Rice Wine market has benefited from this, as tourists are often interested in trying local beverages as part of their cultural immersion. This has created a niche market for producers who cater specifically to tourists, offering guided tours and tastings to enhance the visitor experience.

Underlying macroeconomic factors: The growth of the Cider, Perry & Rice Wine market in Ghana is also influenced by broader macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income. This has allowed consumers to explore new and premium beverage options, including cider, perry, and rice wine. Additionally, the government has implemented policies to promote the growth of small and medium-sized enterprises, which has created opportunities for local producers to enter the market and compete with international brands. In conclusion, the Cider, Perry & Rice Wine market in Ghana is experiencing growth due to changing customer preferences, increasing availability and variety of products, local special circumstances, and underlying macroeconomic factors. As consumer demand continues to evolve, it is expected that the market will further expand, presenting opportunities for both local and international players in the industry.

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.