New Food research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 12/19/2012 -- Our Africa team expects Ghana to be a major economic outperformer over the coming years on a regional and global level - a view that looks even stronger given the onset of domestic oil production. In terms of above-ground opportunities on the consumer side, Ghanaian incomes are expected to increase significantly over the next few years. The country has a solid backdrop of political stability, which is especially important in West Africa, and while the macroeconomic climate has deteriorated somewhat recently, we still see strong opportunities in Ghana's food and drink industry.
Headline Industry Data
- 2012 per capita food consumption (local currency) = +2.5%; forecast compound annual growth to 2016 = +2.5%
- 2012 beer volume sales = +8.0%; forecast compound annual growth to 2016 = +8.0%
Key Industry Trends
SABMiller Opens Chibuku Plant: In March 2012, SABMiller inaugurated a new beer plant through its Accra Brewery subsidiary. The facility was built in the city of Accra and required an investment of US$2mn. It is producing the Chibuku brand of beer, which is brewed from locally grown maize and sorghum. Chibuku is focused on the economy end of the market and generally sold in paper cartons that have to be shaken before drinking. The full rollout of the brand follows testing in the market and suggests strong demand for lower-priced beers in a country where the informal 'home-brewed' sector still holds significant sway.
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