New Food market report from Business Monitor International: "Ghana Food & Drink Report Q4 2014"
Boston, MA -- (SBWIRE) -- 11/17/2014 -- The Ghanaian economy is going through a tumultuous period at present, but the outlook for real GDP growth over the coming years is bright, nevertheless. We forecast that real GDP growth will fluctuate between 5.9% and 8.0% over 2015-2018, following a dip to 4.7% in 2014 from 7.1% the previous year. There is a dearth of data for private consumption in Ghana, but anecdotal evidence points to a sharp slowdown in 2014.
Headline Industry Data
- 2014 per capita food consumption (local currency) = +10.7%; forecast compound annual growth rate (CAGR) 2013 to 2018 = +12.1%.
- 2014 beer volume sales = +7.00%; forecast CAGR 2013 to 2018 = +8.99%.
- 2014 carbonated drinks volume sales = +8.00%; forecast CAGR 2013 to 2018 = +9.99%.
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Key Industry Trends
Local Raw Materials Key to Growing Agricultural Sector: In September 2014, the corporate relations director at Guinness Ghana Breweries, Preba Greenstreet, said that the country's agriculture sector could grow significantly if manufacturers used more local raw materials for production. GGBL started investing in low raw material sourcing over ten years ago but accelerated the level of investment in 2012 when the government provided excise duty concession on a sliding scale for beverages produced with local raw materials. She added that there has been a significant growth in the sorghum, maize and cassava supply chains, so generating employment and positively impacting the livelihoods in the communities these raw materials are sourced from.
New Soft Drinks Player in Ghana: In summer 2014 one of Ghana's leading local producers of alcoholic beverages , Kasapreko Company, revealed plans to start the production of non alcoholic drinks in the country during 2015. The company is aiming to produce herbal soft drinks with medicinal properties.
Risks To Outlook
The Ghanaian cedi remains vulnerable amid the sizeable current account deficit, and could depreciate more swiftly than we anticipate. In addition,...
The Ghana Food & Drink Report features Business Monitor International (BMI)'s market assessment and independent forecasts for food and drink expenditure, consumption, sales, and imports/exports and forecasts for the mass grocery retail sector. The report also includes analyses of major regulatory developments, the background macroeconomic outlook and competitive landscape comparing national and multinational companies by leading products and services, sales, investments, partners and expansion strategies.
BMI's Ghana Food & Drink Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the food and drink industry and the mass grocery retail market in Ghana.
- Benchmark BMI's independent food and drink industry forecasts for Ghana to test other views - a key input for successful budgeting and strategic business planning in the Ghanaian food and drink market.
- Target business opportunities and risks in Ghana through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.
- Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.
BMI Industry View
Summary of BMI's key industry forecasts, and views, covering food and drink manufacturing and consumption and the retail market.
Business Environment Rankings
BMI's Food & Drink Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors, food and drink manufacturers and mass grocery retailers.
The rankings methodology makes sophisticated use of over 40 industry, economic and demographic data points.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the food, drink and mass grocery retail sectors, and within the broader political, economic and business environment.
BMI's food chapter is divided into sections such as Meat, Fish, Confectionary, Dairy and Canned Foods, and provides insight into a market's food industry, centred on a forecast to end-2018 for the sector. The chapter includes the following elements:
Industry Forecast Scenario - Historical data series and forecasts to end-2018 for growth of key indicators within a market's food industry. Including consumption, food consumption as % of GDP, canned food sales, confectionery sales and food and drink imports and exports, among others.
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