Key regions: Russia, Spain, South Korea, Philippines, United States
The Yogurt Market in Ghana has seen subdued growth due to factors such as limited consumer awareness and lack of digital infrastructure. However, with increasing health consciousness and convenience of online services, the market is expected to experience significant growth in the near future.
Customer preferences: In Ghana, there has been a growing interest in healthier food options, leading to a rise in demand for yogurt. This trend can be attributed to the country's increasing health consciousness and adoption of Western dietary habits. Additionally, the growing population of young, urban consumers has also contributed to the popularity of yogurt, as they prioritize convenience and nutrition in their food choices. As a result, there has been a shift towards flavored and functional yogurt products, such as probiotic and plant-based options, catering to the diverse preferences of Ghanaian consumers.
Trends in the market: In Ghana, the Yogurt Market within the Dairy Products & Eggs Market is experiencing a surge in demand for healthier and more nutritious options. This trend is driven by a growing awareness of the health benefits of yogurt, such as promoting gut health and boosting immunity. Additionally, there is a rising demand for locally sourced and organic products, which is leading to the emergence of small-scale yogurt producers. This trend is significant for industry stakeholders as it presents an opportunity for market expansion and diversification. However, it also poses a challenge for larger, established players who may struggle to compete with smaller, more agile producers. As this trend continues, it is crucial for industry stakeholders to adapt their strategies and offerings to cater to the evolving preferences of consumers.
Local special circumstances: In Ghana, the Yogurt Market of the Dairy Products & Eggs Market within The Food market has seen steady growth due to the country's increasing urbanization and changing dietary habits. Unlike other markets, Ghanaian consumers have a preference for locally produced yogurt made from indigenous dairy breeds. Additionally, the government's investment in the dairy industry and initiatives promoting healthier food choices have also played a significant role in shaping the market dynamics.
Underlying macroeconomic factors: The Yogurt Market in Ghana is heavily influenced by macroeconomic factors such as the country's overall economic health, government policies, and global economic trends. Ghana's growing economy and increasing disposable income have led to a rise in demand for dairy products, including yogurt. Furthermore, the government's efforts to promote healthy eating habits and the adoption of Western diets have also contributed to the growth of the yogurt market in Ghana. Additionally, the country's stable political environment and favorable investment climate have attracted investments in the dairy industry, leading to increased production and availability of yogurt products in the market.
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.
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