Ready-to-Drink (RTD) Coffee & Tea - Ghana

The Ready-to-Drink (RTD) Coffee & Tea market in Ghana has been experiencing significant growth in recent years.

Customer preferences: Ghanaians have shown a growing preference for convenient and on-the-go beverage options, which has contributed to the rise in popularity of RTD Coffee & Tea products. The busy lifestyles of urban consumers, coupled with the desire for a quick energy boost, have made these ready-to-drink beverages a convenient choice. Additionally, the younger generation in Ghana has been particularly receptive to the trend, as they are more open to trying new and innovative products.

Trends in the market: One of the key trends in the RTD Coffee & Tea market in Ghana is the increasing demand for healthier options. Consumers are becoming more health-conscious and are seeking beverages that are low in sugar and calories. This has led to the introduction of a variety of RTD Coffee & Tea products that are made with natural ingredients and are free from artificial additives. Additionally, there has been a growing interest in functional beverages that offer additional health benefits, such as those fortified with vitamins and antioxidants. Another trend in the market is the growing popularity of local flavors and ingredients. Ghana has a rich culinary heritage, and consumers are increasingly looking for products that reflect their cultural identity. As a result, there has been an emergence of RTD Coffee & Tea products that incorporate traditional Ghanaian flavors, such as hibiscus and baobab. These local flavors not only cater to the preferences of Ghanaians but also provide a unique selling point for manufacturers in the market.

Local special circumstances: Ghana has a thriving coffee and tea culture, with a strong tradition of consuming these beverages. This cultural affinity towards coffee and tea has played a significant role in driving the growth of the RTD Coffee & Tea market in the country. Additionally, Ghana has a growing middle class with increasing disposable income, which has created a demand for premium and high-quality products.

Underlying macroeconomic factors: The economic growth and stability in Ghana have also contributed to the development of the RTD Coffee & Tea market. With a stable economy and a growing middle class, consumers have more purchasing power and are willing to spend on premium products. Furthermore, urbanization and the expansion of modern retail channels have made RTD Coffee & Tea products more accessible to a larger consumer base. In conclusion, the Ready-to-Drink (RTD) Coffee & Tea market in Ghana is experiencing growth due to the increasing preference for convenient and on-the-go beverage options, the demand for healthier choices, the popularity of local flavors, and the underlying macroeconomic factors such as economic growth and urbanization.

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.