Ghana - Rum - Market Analysis, Forecast, Size, Trends and Insights
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View PricingGhana: Rum Market 2024
Rum Market Size in Ghana
In 2022, after two years of growth, there was significant decline in the Ghanian rum market, when its value decreased by X% to $X. In general, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2019 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.
Rum Production in Ghana
In value terms, rum production dropped modestly to $X in 2022 estimated in export price. In general, production continues to indicate a perceptible reduction. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.
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Rum Exports
Exports from Ghana
After four years of decline, shipments abroad of rum increased by X% to X litres in 2022. Overall, exports enjoyed buoyant growth. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X litres in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.
In value terms, rum exports reached $X in 2022. Over the period under review, exports continue to indicate prominent growth. The growth pace was the most rapid in 2015 when exports increased by X%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.
Exports by Country
Nigeria (X litres), Cote d'Ivoire (X litres) and Burkina Faso (X litres) were the main destinations of rum exports from Ghana, with a combined X% share of total exports. The Netherlands and Togo lagged somewhat behind, together comprising a further X%.
From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, Cote d'Ivoire ($X) remains the key foreign market for rum exports from Ghana, comprising X% of total exports. The second position in the ranking was held by Nigeria ($X), with a X% share of total exports. It was followed by Burkina Faso, with an X% share.
From 2012 to 2022, the average annual rate of growth in terms of value to Cote d'Ivoire was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (X% per year) and Burkina Faso (X% per year).
Export Prices by Country
In 2022, the average rum export price amounted to $X per litre, which is down by X% against the previous year. Overall, the export price continues to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per litre in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per litre), while the average price for exports to Togo ($X per litre) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (X%), while the prices for the other major destinations experienced mixed trend patterns.
Rum Imports
Imports into Ghana
In 2022, after two years of growth, there was significant decline in overseas purchases of rum, when their volume decreased by X% to X litres. Over the period under review, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X litres in 2021, and then contracted dramatically in the following year.
In value terms, rum imports declined sharply to $X in 2022. In general, imports, however, posted significant growth. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then reduced rapidly in the following year.
Imports by Country
In 2022, India (X litres) constituted the largest supplier of rum to Ghana, with a X% share of total imports. Moreover, rum imports from India exceeded the figures recorded by the second-largest supplier, France (X litres), ninefold.
From 2012 to 2022, the average annual growth rate of volume from India totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and Germany (X% per year).
In value terms, India ($X) constituted the largest supplier of rum to Ghana, comprising X% of total imports. The second position in the ranking was held by France ($X), with a X% share of total imports.
From 2012 to 2022, the average annual growth rate of value from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and Germany (X% per year).
Import Prices by Country
In 2022, the average rum import price amounted to $X per litre, surging by X% against the previous year. In general, the import price, however, saw a slight setback. The pace of growth appeared the most rapid in 2015 when the average import price increased by X% against the previous year. The import price peaked at $X per litre in 2016; however, from 2017 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per litre), while the price for India ($X per litre) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the prices for the other major suppliers experienced more modest paces of growth.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the rum market in Ghana. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 11011040 - Rum and other spirits obtained by distilling fermented sugarcane products (important: excluding alcohol duty)
Country coverage:
- Ghana
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Ghana
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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