Ready-to-Eat Meals - Ghana

Ghana

Highlights

Revenue in the Ready-to-Eat Meals market amounts to US$1.58bn in 2024. The market is expected to grow annually by 8.14% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$149bn in 2024).
In relation to total population figures, per person revenues of US$45.39 are generated in 2024.
In the Ready-to-Eat Meals market, volume is expected to amount to 258.10m kg by 2029. The Ready-to-Eat Meals market is expected to show a volume growth of 0.8% in 2025.0.
The average volume per person in the Ready-to-Eat Meals market is expected to amount to 6.9kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Ready-to-Eat Meals market in Ghana is experiencing subdued growth, impacted by factors such as slow economic growth and limited consumer spending. Convenience and changing lifestyles are driving demand for these products, but challenges in supply chain and pricing are limiting growth.

Customer preferences: As the convenience and time-saving benefits of ready-to-eat meals continue to attract consumers in Ghana, there has been a noticeable shift towards healthier and more diverse options. This trend is driven by the growing health consciousness of consumers, as well as the influence of Western food culture. There is also a rising demand for plant-based and vegetarian ready-to-eat meals, as more Ghanaians adopt flexitarian or vegan diets. Additionally, with the increasing urbanization and busy lifestyles, there has been a rise in demand for single-serve and on-the-go ready-to-eat meals, catering to the needs of young professionals and students.

Trends in the market: In Ghana, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is experiencing a shift towards healthier options, with a focus on incorporating local ingredients and traditional flavors. This trend is driven by increasing health consciousness among consumers and the desire for more convenient meal options. Additionally, there is a growing demand for plant-based and vegetarian meals. These trends have significant implications for industry stakeholders, as they must adapt to meet the changing preferences of consumers while also ensuring the sustainability and affordability of their products. The trajectory of these trends is expected to continue, as consumers become more educated and health-conscious, presenting opportunities for innovation and growth in the Ready-to-Eat Meals Market in Ghana.

Local special circumstances: In Ghana, the Ready-to-Eat Meals market is influenced by the country's limited access to fresh and affordable ingredients. This has led to a rise in demand for packaged and convenience food options. Additionally, cultural preferences for spicy and flavorful meals have led to a unique range of locally-inspired ready-to-eat meals in the market. Furthermore, regulatory efforts to address food safety concerns have also shaped the market dynamics, with stricter guidelines for labeling and packaging of ready-to-eat meals.

Underlying macroeconomic factors: The Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is greatly impacted by macroeconomic factors such as consumer spending power, disposable income, and economic growth. Countries with stable economic conditions and rising disposable income levels are more likely to see higher demand for convenience food products, including ready-to-eat meals. Additionally, factors such as changing lifestyles, urbanization, and a growing working population are also driving the demand for convenient and time-saving food options. On the other hand, economic downturns and fluctuations in currency exchange rates can negatively impact the market, as consumers may opt for cheaper food options or reduce their overall spending on food.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

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, and consumer price 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 Food 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. The market is updated twice a year.