The snacks market is set to experience a strong rebound in 2022 after a sharp slowdown in retail volume sales of snacks in Ghana during 2020 and 2021. Snacks are regarded as a luxury by most local consumers, therefore improvements in the economy in the wake of the pandemic will enable many socioeconomic groups to resume their spending on these discretionary products, especially on ice cream and sweet biscuits.
Snacks experienced double-digit growth during the review period, driven mainly by two categories, sweet biscuits and ice cream, especially among school children who were allowed to resume their normal activities. Nonetheless, the sales performance of confectionery and savoury snacks also increased as consumers were able to socialise again and return to their places of work.
The attitude of Ghanaians towards snacks has not changed in 2022. Snacking remains popular among Ghanaians and continues to grow, driven mainly by children and social activities.
Consumer prices including snacks continue to accelerate as inflation remains high. According to the Ghana statistical services, inflation accelerated for the tenth consecutive month to 19.
The distribution of packaged food between the country’s major urban areas is efficient and well organised. Indeed, the transportation of goods between Greater Accra, Takoradi, Kumasi and to a lesser extent Tamale and other major towns and cities is generally quick and trouble-free.
Sales of sacks are expected to record solid growth over the forecast period driven by sweet biscuits and ice cream. However, the performance of savoury snacks will also improve significantly due to growing consumer interest in healthy snacking.
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Understand the latest market trends and future growth opportunities for the Snacks 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 a comprehensive range of core packaged food categories.
If you're in the Snacks 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.
Snacks
This report originates from Passport, our Snacks research and analysis database.
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