Hot drinks saw total volume sales grow in Ghana in 2024 despite price rises as manufacturers have passed on significant increases in the costs of raw materials, packaging, energy, storage and transportation to consumers. This has deterred consumers from making non-essential purchases and encouraged a shift to less expensive options.
The hot drinks industry in Ghana is currently facing considerable market challenges due to exchange rate volatility, increased import taxes, inflation, increased transportation costs and an electricity crisis.
Hot drinks are generally considered a breakfast drink in Ghana, with children and young teenagers tending to prefer malt-based hot drinks such as Milo and adults, particularly women, favouring tea. In addition, all types of hot drinks continue to be consumed as a substitute for snacking, especially during the mid-morning or later in the evening.
With high inflation still eroding consumer purchasing power to a large degree, many local consumers continued to favour more affordable brands as a way of limiting expenditure towards the end of the review period. Thus, as average unit prices soared across all hot drinks categories at a time when no corresponding increases were being seen in wages and salaries, new, more affordable brands emerged to cater to the needs of a population that was already generally highly price conscious.
The distribution of packaged food between the country’s major urban areas is efficient and well organised. Indeed, the transportation of goods between Greater Accra, Takoradi, Kumasi and, to a lesser extent, Tamale and other major towns and cities is generally quick and trouble-free and done mainly via road.
Retail volume sales of hot drinks are set to increase steadily over the forecast period, underpinned by population growth, rapid urbanisation and long-term economic development, all of which is set to expand the urban middle class, a group that forms the core consumer base for hot drinks. Sales are expected to return to pre-pandemic levels by the final year of the forecast period.
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Hot Drinks
This report originates from Passport, our Hot Drinks research and analysis database.
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