Eggs - Ghana | Statista Market Forecast

The Eggs Market in Ghana within The Food market has been experiencing moderate growth due to factors like adoption of technology, health awareness, and convenience. However, subdued growth is impacting the market's growth rate.

Customer preferences: As Ghana's urban population continues to grow, there is a notable increase in demand for convenient and healthy food options. This has led to a rise in the consumption of eggs, as they are a versatile and affordable source of protein. Additionally, with the growing health consciousness among consumers, there is a shift towards free-range and organic eggs, reflecting a preference for natural and sustainable products. This trend is further fueled by the cultural tradition of consuming eggs during festive occasions.

Trends in the market: In Ghana, the Eggs Market of the Dairy Products & Eggs Market within The Food market is experiencing a surge in demand due to the growing popularity of high-protein diets. Additionally, there is a rising trend of incorporating eggs into traditional Ghanaian dishes, further driving market growth. This trajectory is significant for industry stakeholders as it presents opportunities for diversification and innovation in product offerings. However, it also poses challenges in terms of meeting increasing demand and ensuring supply chain efficiency. As such, industry players must stay abreast of market trends and invest in infrastructure to capitalize on this growth potential.

Local special circumstances: In Ghana, the Eggs Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the traditional consumption of eggs in local cuisine, as well as the country's increasing urbanization and rising disposable income. These factors have led to a growing demand for high-quality eggs and a shift towards more modern and efficient production methods. Additionally, the government's focus on promoting agricultural development and food security has also played a role in shaping the Eggs Market in Ghana.

Underlying macroeconomic factors: The Dairy Products & Eggs Market in Ghana is heavily influenced by macroeconomic factors such as national economic health, government policies, and global economic trends. The country's stable economic growth and favorable business environment have attracted foreign investment, leading to increased demand for dairy and eggs products. In addition, the growing population and changing dietary habits are driving the demand for high-quality and nutritious dairy and eggs products. Furthermore, the government's initiatives to promote domestic production and reduce import dependency are expected to boost the growth of the market. However, the lack of infrastructure and technology in the dairy and eggs industry and the volatility of global market prices for dairy products may hinder market growth in Ghana.

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.