The population of Ghana is predicted to increase by 29.5%, due to changes in net migration and natural change, standing at a total of 44.6 million citizens by 2040. The birth rate in Ghana is anticipated to fall between 2024 and 2040. By 2040, young adults (aged 18-29) will make up the largest cohort of the population. Generational cohorts will continue to influence consumer expenditure based on their specific purchasing habits and unique demands.

Tissue and hygiene in Ghana has continued its positive trajectory in 2024, building on momentum gained during and after the COVID-19 pandemic. The heightened awareness of hygiene practices among Ghanaians remains a key driver of growth in the category. However, macroeconomic pressures persist. The depreciation of the Ghanaian cedi and sustained inflation continue to impact the industry, driving up prices and affecting both production and consumption.

Although Ghana enjoys relative political stability and state finances have improved, corruption is endemic and hinders progress in economic freedom. Whilst inflation continues to hamper the economy and foreign investment is not an economic driver, Ghana’s output performance will be better than peers. The consumer market will be boosted by a growing population and the nation’s youthfulness, but inequality is prevalent. Internet and mobile use is solid, but 5G is yet to be launched commercially.

In 2024, home care in Ghana experienced growth in volume sales despite significant price increases across the sector. Products such as washing powder, bleach, and dishwashing soap are expected to see the most growth, as they remain the most frequently purchased household items. However, rising costs have led consumers to switch between brands and seek more affordable alternatives while reducing non-essential purchases. Established brands such as Omo, Sunlight, Key Soap, Ariel, and So Klin have l

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. Local manufacturing of hot drinks continues to increase. Meanwhile, players continue to resize and rebrand their products to remain relevant.

Soft drinks saw volume sales increase in both the off-trade and on-trade channels in Ghana in 2024. Growth was supported by people continuing to migrate to urban areas and adopting busy lifestyles that generate demand for convenient ready-to-drink beverages. An expanding middle class and increasing brand awareness also contributed to the rise in sales. Growth occurred despite the introduction of a sugar tax in the previous year, which led to a rise in the prices of sugary soft drinks.

Cooking ingredients and meals in Ghana performed well in 2024. However, higher prices in an inflationary climate, the presence of substitutes, such as unpackaged and fresh alternatives, albeit with seasonal limitations, and logistics/distribution issues hindered demand. Nonetheless, population growth, urbanisation, economic improvements and the development of modern retailing provided impetus to packaged sales. Meanwhile, players offered smaller packs in order to boost immediate affordability.

The staple foods market in Ghana continued to be significantly impacted by inflation in 2024. Prices rose across product categories with an increasing proportion of consumers’ disposable incomes being required for staple foods, while the broader increase in the cost of living placed further significant constraints on consumer spending. Rice and bread remained key staple foods, but demand for products like pasta and breakfast cereals remained largely limited to more affluent urban dwellers.

In 2023, extended households were the most common type in Ghana, driven by economic factors. However, by 2028, their share is projected to decrease slightly, while single person households are expected to grow fastest, due to changing societal norms. Furthermore, urbanisation is set to continue, with the share of households in urban areas expected to reach 66.0% by 2028, leading to changes in family structures and income distribution.

In 2024, consumer health in Ghana faces challenges due to rising inflation and the depreciation of the cedi, leading to higher costs for both local and imported pharmaceuticals. Consumers are shifting from premium to affordable brands and herbal remedies, especially in lower-income groups. Middle and upper-income consumers have also embraced herbal products, gaining trust since the pandemic. Companies, like Ernest Chemist, are responding with smaller, more affordable pack sizes, while consumer e

Accra and Kumasi are Ghana’s most economically vibrant cities. Meanwhile, Tamale holds the highest potential for future economic growth. However, challenges for the country’s cities will persist in the near term due to the continuing global economic slowdown and the impact of tight financial conditions. In the longer run, Ghana’s cities are set to face burdens on infrastructure, due to large and increasing populations.

Retail volume sales of baby food in Ghana are projected to continue to decrease in 2024. However, higher prices, albeit rising at a slower rate, are set to ensure strong, if slower, retail current value growth, compared with 2022 and 2023.

In 2023, Ghana experienced economic deceleration, yet saw a 3.6% increase in per capita disposable income, primarily due to a rise in labour productivity. Despite this, the country faced severe income inequality and a significant gender gap. During 2023-2028, Ghana's per capita disposable income is projected to grow by 16.1%, but social progress is expected to deteriorate, leading to a widening income distribution gap.

The snacks market in Ghana is set to experience a slight decline in both retail volume and value sales in 2024. Prices have risen as manufacturers have passed on significant increases in the costs of raw materials, packaging, energy, storage and transportation to consumers. In the context of broader rises in the cost of living, this has deterred consumers from making non-essential purchases and encouraged a shift to less expensive options, such as unpackaged products through informal channels.

In 2023, alcoholic drinks in Ghana is facing significant challenges due to exceptionally high inflation, which averaged above 40%. This economic strain has negatively impacted the overall performance of alcoholic drinks compared to 2022. Despite this, volume growth has remained positive, though at reduced levels. Both on-trade and off-trade channels have experienced lower growth rates. Stout emerged as a robust performer within the beer category, while spirit-based RTDs are gaining popularity, d

The commodities country overview provides comprehensive data on production, consumption and price trends on key commodities markets. The commodities overview in Ghana covers production and consumption trends in agricultural commodities, energy products, electricity, metal products as well as an overview of key economic and business environment trends.

In 2023, Ghana's tobacco industry demonstrates resilience with marginal demand increases across categories, primarily driven by continuous price hikes of tobacco products. However, this trend negatively impacts volume sales. The industry is witnessing a shift towards non-traditional categories like shisha and e-vapour products, especially among young consumers. While cigarettes, predominantly British American Tobacco brands, continue to dominate, the preference of young consumers for these moder

In 2023, Ghana’s economy slowed, with GDP growth of 2.0% in real terms. The slowdown was attributable to macroeconomic instability, a significant surge in inflation, and decreases in exports and investment. However, the economy is projected to improve in 2024, with forecast GDP growth of 3.4% and a decrease in inflation to 18.4%. Despite a decrease in exports and imports in 2023, Ghana’s future trade prospects look promising, aided by its membership of the African Continental Free Trade Area.

In 2023, global inflation rates are causing prices to rise, affecting consumers’ consumption habits. Meanwhile, more modern attitudes towards personal grooming and rising exposure to global style and fashion trends due to widening internet access are supporting demand for a wider range of products, including sophisticated items and premium brands, but only amongst a limited consumer group.

This briefing examines how the wood commodity is performing globally and in the largest countries in terms of wood supply and consumption. The report also provides data and analysis for wood prices, imports, exports and top consuming industries as well as global economic forecasts. The supply, consumption and main consuming industries overview provides benchmarks against other countries globally.