Non-Alcoholic Drinks - Ghana

The Non-Alcoholic Drinks market in Ghana has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in Ghana have shifted towards healthier beverage options, leading to an increased demand for non-alcoholic drinks. Consumers are becoming more health-conscious and are actively seeking out beverages that are low in sugar, natural, and free from artificial additives. This trend is in line with global consumer preferences, as people around the world are becoming more aware of the impact of their diet on their overall health and well-being. As a result, companies in the non-alcoholic drinks market in Ghana have been introducing new products that cater to these preferences, such as natural fruit juices, herbal teas, and functional beverages. Another trend in the market is the growing popularity of local and traditional beverages. Ghana has a rich cultural heritage, and consumers are increasingly interested in exploring and embracing their traditional drinks. This trend is not unique to Ghana, as consumers worldwide are showing a growing interest in local and artisanal products. In response to this trend, companies in Ghana are introducing traditional drinks made from local ingredients, such as palm wine, sobolo (hibiscus tea), and bissap (sorrel drink). These traditional beverages are not only appealing to consumers due to their cultural significance, but they also offer unique flavors and health benefits. Local special circumstances in Ghana have also played a role in the development of the non-alcoholic drinks market. The country has a young and growing population, with a large proportion of the population under the age of 30. This demographic trend has created a significant consumer base for non-alcoholic beverages, as younger consumers are more likely to be health-conscious and open to trying new products. Additionally, Ghana has a thriving tourism industry, attracting visitors from around the world. Tourists often seek out local food and beverages during their travels, providing an opportunity for companies in the non-alcoholic drinks market to showcase their products and attract new customers. Underlying macroeconomic factors have also contributed to the growth of the non-alcoholic drinks market in Ghana. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has allowed consumers to allocate more of their budget towards non-alcoholic beverages, driving demand in the market. Furthermore, Ghana has a relatively stable political environment, which has created a favorable business climate for companies in the non-alcoholic drinks industry to operate and expand. In conclusion, the Non-Alcoholic Drinks market in Ghana is experiencing growth due to changing customer preferences towards healthier options, the popularity of local and traditional beverages, local special circumstances, and underlying macroeconomic factors. As consumers in Ghana continue to prioritize their health and seek out unique and culturally significant products, the market for non-alcoholic drinks is expected to continue to expand.

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.