Ghana

Rice and bread remained the most popular staple foods in 2023. The demand for options like pasta, breakfast cereals and processed meat and seafood remained largely limited to more affluent urban dwellers. Further significant rises in unit prices and…

Home care continued to see dynamic growth in current value terms across all categories in 2023, but this was due to soaring inflation and the rising cost of imports. In contrast, volume sales dropped sharply as consumers were forced to prioritise…

Soft drinks consumption is growing despite demand being confined to carbonates, bottled water, juice and energy drinks. 2023 saw new entrants and rising local production, driven by rising demand for affordable brands at a time of high inflation and a…

Rising prices due to high inflation continued to put pressure on demand for hot drinks in 2023 as consumers prioritised essentials when spending. Nonetheless, growth remains positive across the market, with consumers opting for more affordable brands…

In 2023, Ghana's tissue and hygiene industry continues to be characterised by affordability, prompting a shift towards more economical brands given the ongoing economic disarray. Intense competition compels companies to innovate, employing diverse…

Whilst Ghana enjoys a relatively low tax burden, public debt is rising and the state is increasingly stamping out opposition. Economic momentum is slowing in light of inflationary pressures, but the foreign investment climate looks promising. Whilst…

While alcoholic drinks are no longer being impacted by the COVID-19 pandemic in 2022, global inflation is impacting pricing and consumers incomes. This is leading to downtrading and is especially impacting premium and luxury brands. Meanwhile, the…

In 2023, Ghana is witnessing inflation, leading consumers to choose more affordable options like herbal/traditional products due to their more affordable prices. Similar to other sub-Saharan African markets, the use of herbal/traditional products is…

Tobacco use in Ghana remains low due to strong societal and cultural disapproval of smoking. It was further negatively impacted in 2022 by high unit price rises due to depreciation of the local currency and tax rises. Volume sales of cigarettes…

The snacks market in Ghana is set to experience a slight decline in retail volume sales in 2023, while current value sales are expected to grow strongly on the back of sharp increases in price. Prices have risen as manufacturers have passed on…

Retailing saw a surge in current value sales as inflation rates soared in 2022. With retailers still struggling to recover post-pandemic, consumer purchasing power was hit by rising retail prices. Consumers made cutbacks and focused on essential…

Price remains a pivotal factor during 2023 and continues to shape consumer choices. Consumers persist in making decisions, leaning towards more economical and affordable brands. Edible oils remain central to cooking, but retail sales dipped due to…

Demand for dairy is growing among low socioeconomic groups thanks to its healthy image, despite the rising cost of living. Independent small grocers continue to characterise the distribution of dairy as modern retailing remains in its infancy,…

In 2022, beauty and personal care is no longer being impacted by the COVID-19 pandemic, however, global inflation rates are causing prices to rise and consumers to change their consumption habits. Meanwhile, more modern attitudes towards personal…

From 2022 to 2027, Ghana is expected to see a modest increase in the number of households, with extended households remaining the predominant type. In 2022, elevated inflation, standing at 31.8%, added to the increased cost of living. Over the medium…

The commodities country overview provides comprehensive data on production, consumption and price trends on key commodities markets. The commodities overview in Ghana covers production and consumption trends in agricultural commodities, energy…

Continued income inequality and rising inflation threaten consumer market development in Ghana. With a significant portion of the population allocating most of their income to necessities, discretionary spending is set to remain limited over the long…

Population growth in Ghana between 2021 and 2040 will be driven by positive natural change, as net migration remains negative. Ongoing urbanisation will place pressure on infrastructure, while improvements in living standards will increase life…

Accra and Kumasi stand as the foremost economic powerhouses within Ghana. Furthermore, Accra is poised for substantial future economic expansion. Nevertheless, urban centres in the nation will grapple with ongoing issues. In the short term, these…

Ghana ranks in the bottom half in the Index of Economic Freedom, due to a lack of microeconomic stability and worsening fiscal health. Additionally, skills shortages impede the development of high value-added sectors, while the underdeveloped ICT…