Juices - Ghana

The Juices market in Ghana has been experiencing significant growth in recent years.

Customer preferences: Ghanaians have shown a growing preference for healthier beverage options, which has contributed to the increasing demand for juices. With rising health consciousness and a desire for natural and nutritious products, consumers are turning to juices as a convenient way to incorporate fruits and vegetables into their diets. Additionally, the younger generation in Ghana is more inclined towards trying new flavors and experimenting with different juice blends, further driving the growth of the market.

Trends in the market: One of the key trends in the Juices market in Ghana is the emergence of local and regional juice brands. These brands are focusing on using locally sourced fruits and traditional recipes to cater to the preferences of the Ghanaian consumers. This trend is not only promoting local agriculture and supporting local farmers but also providing consumers with a sense of pride in consuming locally made products. Furthermore, these local brands are often more affordable compared to imported juices, making them more accessible to a wider consumer base. Another trend in the market is the increasing availability of organic and cold-pressed juices. As consumers become more conscious about the quality and purity of the products they consume, there is a growing demand for organic juices that are free from pesticides and other harmful chemicals. Cold-pressed juices, on the other hand, are gaining popularity due to their perceived higher nutritional value and freshness. These trends reflect the evolving preferences of consumers towards healthier and more natural options.

Local special circumstances: Ghana's tropical climate and fertile soil provide ideal conditions for the cultivation of a wide variety of fruits. This abundance of fruits has led to the availability of a diverse range of juices in the market. Local fruits such as pineapple, mango, and passion fruit are commonly used in the production of juices, giving them a distinct and refreshing taste. Additionally, the traditional practice of juicing fruits for immediate consumption has been a part of Ghanaian culture for many years, further contributing to the popularity of juices in the country.

Underlying macroeconomic factors: Ghana's growing middle class and increasing disposable income have played a significant role in the growth of the Juices market. As consumers have more money to spend, they are willing to invest in premium and healthier beverage options, including juices. Furthermore, the country's stable economic growth and improving infrastructure have created a favorable business environment for both local and international juice manufacturers, leading to increased competition and product innovation. In conclusion, the Juices market in Ghana is experiencing growth due to changing customer preferences towards healthier options, the emergence of local and regional brands, the availability of organic and cold-pressed juices, the country's tropical climate and fertile soil, and the underlying macroeconomic factors such as the growing middle class and increasing disposable income. This presents opportunities for both local and international players to tap into the growing demand for juices in Ghana.

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.