Wine market volume in Ghana stood at 4.0 thousand metric tons in 2023, stabilizing after a significant decline since its peak of 11.0 in 2015. The market experienced substantial fluctuations with notable year-on-year decreases, particularly in 2016 and again through 2018 to 2020. Over the past five years, the compound annual growth rate (CAGR) averaged -4.36%, reflecting a consistent downward trend. This declining pattern is projected to continue, with forecasts indicating a further drop to 2.35 thousand metric tons by 2028, implying a negative CAGR of -7.98% over the next five years.
Future trends to watch include the potential impact of economic conditions, changing consumer preferences, and the growth of alternative beverages. Monitoring these factors will be crucial to understanding whether the wine market can stabilize or if the downward trajectory will persist.
