Contact
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
Key regions: India, Nigeria, Vietnam, Australia, United Kingdom
The Bottled Water market in Ghana has been experiencing significant growth in recent years.
Customer preferences: Ghanaians have shown a growing preference for bottled water over tap water due to concerns about the quality and safety of the latter. This shift in consumer behavior can be attributed to increasing awareness about water-borne diseases and the need for clean drinking water. Additionally, bottled water is often perceived as a more convenient and hygienic option, especially in urban areas where access to clean tap water may be limited.
Trends in the market: One of the major trends in the bottled water market in Ghana is the rise in demand for premium and flavored water. Consumers are increasingly seeking healthier alternatives to sugary beverages, and flavored water provides a refreshing and low-calorie option. This trend is also driven by the growing health consciousness among Ghanaians, who are becoming more mindful of their dietary choices. Another trend in the market is the increasing popularity of bottled water in rural areas. As access to clean tap water remains a challenge in many rural communities, bottled water has become a reliable source of clean drinking water. This trend is further fueled by the government's efforts to improve water infrastructure in rural areas, which has led to an increase in the availability and affordability of bottled water.
Local special circumstances: Ghana's tropical climate and high temperatures contribute to the demand for bottled water. The hot weather increases the need for hydration, making bottled water a popular choice among Ghanaians. Additionally, the country's growing population and urbanization have also contributed to the increased demand for bottled water, as more people are migrating to cities where access to clean tap water is often limited.
Underlying macroeconomic factors: Ghana's growing economy and rising disposable incomes have played a significant role in the development of the bottled water market. As more Ghanaians have the financial means to afford bottled water, the market has witnessed a surge in demand. Furthermore, the government's efforts to improve water infrastructure and promote public health have also created a favorable environment for the growth of the bottled water industry. In conclusion, the Bottled Water market in Ghana is experiencing growth due to customer preferences for clean and convenient drinking water, the rise in demand for premium and flavored water, the increasing popularity of bottled water in rural areas, the country's tropical climate, and the underlying macroeconomic factors such as the growing economy and rising disposable incomes.
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 Non-Alcoholic Drinks, 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 Non-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. The market is updated twice a year.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)