Fast Market Research recommends "Ghana Food & Drink Report Q1 2014" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 01/28/2014 -- We maintain our view that Ghana will be a regional and global outperformer over the coming years thanks to swift expansion in several industries retail. We forecast real GDP growth of 6.4% in 2014 and 7.2% in 2015, following an estimated 7.0% in 2013. We expect strong growth in aggregate private consumption, forecasting an increase of 7.5% in real terms in 2013 and 6.0% in 2014, followed by an annual average of 6.0% over 2014-2017 which in turn has positive implications for consumer spending on food and drink.
Headline Industry Data
- 2013 per capita food consumption (local currency) = +10.16%; forecast compound annual growth rate (CAGR) 2013 to 2017 = +9.2%.
- 2013 beer volume sales = +8.00%; forecast CAGR 2013 to 2017 = +6.74%.
- 2013 carbonated drinks volume sales = +9.00%; forecast CAGR 2013 to 2017 = +7.53%.
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Key Industry Trends
Danone Joins in Fan Milk Acquisition: In autumn 2013 dairy giant Danone announced that it is to join Abraaj Group in acquiring Fan Milk International. Abraaj will now take a 51% stake and Danone the remaining 49% stake. Until the agreement Danone will acquire a controlling share in the company in future years. The transaction is expected to be finalised by the end of the year. According to a statement from the company, 'The combination of Danone's know-how in the fresh dairy category alongside Abraaj's 20 year investment experience, insights and local presence on the African continent will boost Fan Milk's growth in a market with major potential.'
Accra Breweries Doubles Capacity: In late 2013, SABMiller-owned Accra Breweries announced plans to invest US$100mn to expand its operations in Ghana to include the construction of two new state-of-theart- packaging lines, a warehouse and a waste treatment plant. The expansion project is expected to double the company's capacity and will be completed over a period of one- to two-years. The move will enable it to increase production of Club Ghana, the country's most popular local beer, and provide a base for the distribution of international brands such as Peroni Nastro Azzuro.
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