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.
In 2022, one of the most notable changes witnessed within alcoholic drinks has been the increase in prices across all categories, in line with global inflation rates and the depreciation of the cedi. According to industry players, the situation is affecting volume sales as consumers are becoming increasingly price-conscious.
A sizeable minority of the Ghanaian population does not drink alcohol. This includes most of the country's Muslim community, which accounted for around 18% of the total population in Ghana's most recent census of 2012.
In 2022, the post pandemic economic environment continues to decline, now being further worsened by global inflation rates. With more consumers having decreased disposable incomes and prices rapidly rising, consumers are limiting their consumption of alcoholic drinks, which is negatively impacting volume sales more than current value sales.
Ghana's road network is relatively well-developed and transferring products between major urban areas poses few problems. Nevertheless, the state of the roads remains poor in more remote rural areas, although there is generally limited demand for packaged alcoholic drinks in these areas anyway.
In 2022, there are no new regulations, however, there have been calls by the Ghana Revenue Authority for parliament to pass the Excise Duty Amendment Bill laid before the house. If passed, this bill will increase taxes on alcoholic drinks and tobacco products, making them more expensive with the aim of deferring consumers from purchasing them.
The Ghana Revenue Authority (GRA) has amended the standard value-added tax (VAT) from 12.5% to 15%, a 2.
Beer will remain the main contributor to sales growth in alcoholic drinks during the forecast period, with the category set to continue benefiting from the ongoing expansion of production capacity at the category’s leading breweries and the development of new industrial breweries. In addition, the expansion of the country’s affluent urban middle class and the positive outlook for the Ghanaian economy are set to combine with the increased acceptance of drinking to spur sales growth in beer and across alcoholic drinks over the forecast period.
Files are delivered directly into your account soon after payment is received and any tax certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Alcoholic Drinks industry in Ghana with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
If you're in the Alcoholic Drinks industry in Ghana, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty
Alcoholic drinks is the aggregation of beer, wine, spirits, cider/perry and RTDs.See All of Our Definitions
This report originates from Passport, our Alcoholic Drinks research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!