Soft Drinks - Ghana | Statista Market Forecast

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Soft Drinks market amounts to US$1.23bn in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$99.68m in 2024.
Revenue, combined amounts to US$1.33bn in 2024.
The revenue, at home is expected to grow annually by 10.83% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated United States (US$114bn in 2024).
In relation to total population figures, the average revenue per capita, at home of US$35.47 are generated in 2024.
In the Soft Drinks market, volume, at home is expected to amount to 1.20bn L by 2024.
Volume, out-of-home is expected to amount to 20.82m L in 2024.
Volume, combined is expected to amount to 1.22bn L in 2024.
The Soft Drinks market is expected to show a volume growth, at home of 3.2% in 2025.0.
The average volume per person, at home in the Soft Drinks market is expected to amount to 34.40L in 2024.

Definition:

The market Soft Drinks covers varieties of prepared water-based beverages to which flavoring additives (sugar or sweeteners, aromas etc.) have been added. These include cola drinks and lemonades, but also energy drinks, fruit nectars and soft drinks with fruit juice content, as well as value-added or flavored water. Coffee and tea-based drinks are not included.

Structure:

The Soft Drinks market is structured into 3 markets:

Carbonated Soft Drinks denote all artificially sweetened and carbonated Non-Alcoholic Drinks.
Non-Carbonated Soft Drinks contain non-alcoholic liquid refreshment beverages that are not artificially carbonated.
Energy & Sports Drinks include energy drinks and sports drinks, providing functional benefits such as mental and physical stimulation.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

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.

Key players include The Coca-Cola Company, PepsiCo, Suntory, Red Bull, and Keurig Dr Pepper.

Carbonated Soft Drinks (Cola, Lemonade etc.)
Non-Carbonated Soft Drinks (nectars, value-added or flavoured water etc.)
Energy & Sports Drinks

Hot Drinks
Powdered drink mixes and syrups (e.g. Post-Mix Drinks)

The Soft Drinks market in Ghana has been experiencing significant growth in recent years, driven by changing consumer preferences and local special circumstances.

Customer preferences: Ghanaians have traditionally had a preference for non-alcoholic beverages, and soft drinks have become increasingly popular among consumers of all ages. This can be attributed to the rise in disposable income and the growing middle class in the country. Furthermore, the hot and humid climate in Ghana makes soft drinks a refreshing choice for many consumers.

Trends in the market: One of the key trends in the Soft Drinks market in Ghana is the increasing demand for healthier and natural beverages. Consumers are becoming more health-conscious and are seeking alternatives to sugary carbonated drinks. As a result, there has been a rise in the consumption of natural fruit juices, flavored water, and low-sugar or sugar-free soft drinks. This trend is in line with the global shift towards healthier beverage options. Another trend in the market is the growing popularity of locally produced soft drinks. Ghana has a rich tradition of producing beverages from local fruits such as pineapple, mango, and coconut. These locally produced drinks are gaining traction among consumers who value the use of natural ingredients and support for local businesses. This trend also aligns with the global trend of consumers seeking authentic and locally sourced products.

Local special circumstances: One of the unique factors in the Soft Drinks market in Ghana is the strong presence of street vendors and small-scale retailers. These informal channels play a significant role in the distribution of soft drinks, particularly in rural areas where access to formal retail outlets is limited. Street vendors often sell soft drinks in small quantities, making them affordable and accessible to a wide range of consumers. This distribution model has contributed to the widespread availability and popularity of soft drinks in Ghana.

Underlying macroeconomic factors: The growth of the Soft Drinks market in Ghana can also be attributed to favorable macroeconomic conditions. The country has experienced steady economic growth in recent years, which has resulted in increased disposable income and improved living standards. This has led to a higher demand for consumer goods, including soft drinks. Additionally, Ghana has a young and growing population, which further fuels the demand for soft drinks. In conclusion, the Soft Drinks market in Ghana is experiencing growth due to changing consumer preferences towards healthier and natural beverages, the popularity of locally produced drinks, the presence of street vendors and small-scale retailers, and favorable macroeconomic conditions. These factors contribute to the increasing demand for soft drinks in the country and present opportunities for both local and international brands to capitalize on this growing market.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.