Ghana: Wine Market 2024

Wine Market Size in Ghana

The Ghanian wine market declined to $X in 2022, shrinking by X% against the previous year. Overall, the total consumption indicated mild 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 2020 indices. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Wine Production in Ghana

In value terms, wine production reduced modestly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

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Wine Exports

Exports from Ghana

In 2022, after three years of growth, there was significant decline in overseas shipments of wine and grape must, when their volume decreased by X% to X litres. Over the period under review, exports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of X litres. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, wine exports dropped notably to $X in 2022. In general, exports, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Togo (X litres) was the main destination for wine exports from Ghana, accounting for a X% share of total exports. Moreover, wine exports to Togo exceeded the volume sent to the second major destination, Nigeria (X litres), threefold. The third position in this ranking was taken by Cote d'Ivoire (X litres), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Togo amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (X% per year) and Cote d'Ivoire (X% per year).

In value terms, Nigeria ($X), Togo ($X) and Cote d'Ivoire ($X) were the largest markets for wine exported from Ghana worldwide, with a combined X% share of total exports.

Among the main countries of destination, Nigeria, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average wine export price amounted to $X per litre, dropping by X% against the previous year. Over the period under review, the export price showed a abrupt decline. The pace of growth was the most pronounced in 2015 when the average export price increased by X%. The export price peaked at $X per litre in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per litre), while the average price for exports to Benin ($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 the United States (X%), while the prices for the other major destinations experienced a decline.

Wine Imports

Imports into Ghana

In 2022, overseas purchases of wine and grape must decreased by X% to X litres for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports continue to indicate a pronounced setback. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X litres in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, wine imports declined sharply to $X in 2022. Overall, imports, however, showed a slight increase. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then shrank significantly in the following year.

Imports by Country

Togo (X litres), Spain (X litres) and France (X litres) were the main suppliers of wine imports to Ghana, together comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Togo (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest wine suppliers to Ghana were France ($X), Togo ($X) and Spain ($X), together accounting for X% of total imports.

Among the main suppliers, Togo, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average wine import price amounted to $X per litre, which is down by X% against the previous year. Overall, the import price, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per litre in 2021, and then shrank in the following year.

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 Belgium ($X per litre), while the price for Togo ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform