Ready-to-Drink (RTD) Coffee - Ghana

Ghana

Highlights

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Ready-to-Drink (RTD) Coffee market amounts to US$280.80k in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$7.11k in 2024.
Revenue, combined amounts to US$287.90k in 2024.
The revenue, at home is expected to grow annually by 12.07% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated Japan (US$12bn in 2024).
In relation to total population figures, the average revenue per capita, at home of US$0.01 are generated in 2024.
In the Ready-to-Drink (RTD) Coffee market, volume, at home is expected to amount to 82.76k L by 2024.
Volume, out-of-home is expected to amount to 532.60L in 2024.
Volume, combined is expected to amount to 83.29k L in 2024.
The Ready-to-Drink (RTD) Coffee market is expected to show a volume growth, at home of 6.1% in 2025.0.
The average volume per person, at home in the Ready-to-Drink (RTD) Coffee market is expected to amount to 0.00L in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: Ghanaians have shown a growing preference for convenience and on-the-go products, which has contributed to the rise in popularity of RTD coffee. The busy lifestyles of urban consumers in Ghana have led to an increased demand for ready-to-consume beverages that can be easily consumed while commuting or at work. Additionally, the younger population in Ghana, who are more exposed to Western trends and lifestyles, have developed a taste for coffee and are seeking convenient options to satisfy their cravings.

Trends in the market: One of the key trends in the RTD coffee market in Ghana is the introduction of local flavors and ingredients. Ghana is known for its rich cocoa production, and companies have capitalized on this by incorporating cocoa flavors into their RTD coffee products. This not only appeals to the local taste preferences but also adds a unique twist to the traditional coffee flavors. Furthermore, there has been a surge in the availability of cold brew coffee options in Ghana. Cold brew coffee is known for its smoother and less acidic taste compared to traditional hot brewed coffee, making it a popular choice among consumers.

Local special circumstances: Ghana's coffee culture is still developing, with traditional hot brewed coffee being more commonly consumed. However, the rising popularity of RTD coffee indicates a shift towards a more modern coffee culture. The presence of international coffee chains and cafes in major cities has also contributed to the growing acceptance and familiarity of RTD coffee among Ghanaians. Additionally, the increasing number of young professionals and students in urban areas has created a market for convenient coffee options that can be consumed on the go.

Underlying macroeconomic factors: Ghana's growing middle class and improving disposable incomes have played a significant role in the development of the RTD coffee market. As more Ghanaians have the means to afford premium and convenience products, the demand for RTD coffee has increased. Furthermore, the expanding retail sector and the proliferation of supermarkets and convenience stores have made RTD coffee more accessible to a wider consumer base. The increasing urbanization and modernization of Ghana's cities have also contributed to the growth of the RTD coffee market, as consumers seek out trendy and convenient options in line with global trends.

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.