Market Insights Consumer Alcoholic Drinks

Spirits - Ghana

Ghana

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Spirits market amounts to US$349.1m in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$18,090.0k in 2024.
Revenue, combined amounts to US$367.2m in 2024.
The revenue, at home is expected to grow annually by 8.68% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated in China (US$146,400m in 2024).
In relation to total population figures, the average revenue per capita, at home of US$10.04 are generated in 2024.
In the Spirits market, volume, at home is expected to amount to 22.0m L by 2024.
Volume, out-of-home is expected to amount to 424.9k L in 2024.
Volume, combined is expected to amount to 22.4m L in 2024.
The Spirits market is expected to show a volume growth, at home of 0.3% in 2025.
The average volume per person, at home in the Spirits market is expected to amount to 0.63L in 2024.

Key regions: United States, United Kingdom, Worldwide, United Kingdom, Australia

Definition:

The Spirits market includes alcoholic beverages that have been produced through the distillation of wine, fermented fruits, or grains. Due to the distillation process, the alcohol content of spirits is much higher than that of most wines and beers, typically ranging from 20% to 50% alcohol by volume (ABV).

Structure:

The Spirits market is divided into 8 markets:

The Whisky market encompasses spirits on a grain basis that have been aged in wooden casks for a duration of at least three years.
The Vodka market encompasses spirits based on grain and/or potatoes.
The Rum market encompasses spirits based on sugar cane.
The Gin market encompasses spirits based on juniper berries.
The Brandy market encompasses spirits based on fermented fruit juice.
The Tequila market encompasses spirits made primarily from the blue agave plant (Agave tequilana) in Mexico.
The Soju market encompasses the Korean distilled beverage, Soju, which is traditionally made from rice, barley, or sweet potatoes.
The Liqueurs & Other Spirits market encompasses all other spirits not previously mentioned as well as Ready-to-Drink (RTD) cocktails.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. All prices are valued at retail selling prices, including all sales and consumption taxes.

Key players include Diageo (e.g., Johnnie Walker, Smirnoff, and Tanqueray), Pernod Ricard, and Kweichow Moutai.

Market

Region

Region comparison

Currency

Analyst Opinion

The Spirits market in Ghana has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Spirits market in Ghana have shifted towards premium and high-quality products. Consumers are becoming more discerning and are willing to pay a premium for spirits that offer unique flavors, craftsmanship, and brand reputation. This trend is in line with global market preferences, where consumers are increasingly seeking out premium spirits as a way to indulge and enjoy a unique drinking experience. Trends in the Spirits market in Ghana include the growing popularity of locally produced spirits and the rise of craft distilleries. Ghana has a rich tradition of brewing and distilling, and consumers are increasingly embracing locally made spirits as a way to support local businesses and celebrate their cultural heritage. Craft distilleries are also gaining traction, offering small-batch, artisanal spirits that cater to the growing demand for unique and authentic products. Local special circumstances in Ghana contribute to the development of the Spirits market. Ghana has a vibrant nightlife and a culture of socializing and celebration, which drives the demand for spirits. Additionally, the country has a growing middle class with increasing disposable income, allowing more consumers to afford premium spirits. These factors create a favorable environment for the growth of the Spirits market in Ghana. Underlying macroeconomic factors also play a role in the development of the Spirits market in Ghana. Economic stability and steady GDP growth contribute to consumer confidence and purchasing power, allowing consumers to spend more on discretionary items such as spirits. Additionally, urbanization and changing demographics, including a young and urban population, contribute to the growth of the market. Younger consumers are more open to trying new products and are willing to experiment with different types of spirits. Overall, the Spirits market in Ghana is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As consumers become more discerning and willing to pay a premium for high-quality spirits, the market is responding by offering a wide range of premium and artisanal products. With a vibrant nightlife culture and a growing middle class, Ghana provides a favorable environment for the development of the Spirits market.

Methodology

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.