The beer demand in Ghana has shown considerable fluctuations over the years. From 2014 to 2023, the demand increased gradually, with notable peaks in 2018 and subsequent decline but saw steady growth again from 2020 onwards. In 2023, the demand stood at 280 Thousand Metric Tons, with a year-on-year variation of 3.32%. The five-year CAGR from 2019 to 2023 was 0.96%, indicating moderate growth.
Key Trends:
- 2018 showed an exceptional spike in demand with a 65.84% increase, highlighting unusual market conditions.
- After a decrease in 2019 (-8.61%) and 2020 (-13.94%), there was a strong rebound in 2021 with a 24.77% increase.
- A steady year-on-year growth of around 3.3% has been observed post-2022, reflecting market stabilization and moderate growth expectations.
Future Trends to Watch For:
- The forecast indicates continued growth over the next five years, with a forecasted 5-year CAGR of 2.36% and an overall growth rate of 12.35% by 2028.
- Factors such as economic conditions, consumer preferences, and regulatory changes will be crucial in shaping the future demand.
