In 2023, the sugar cane market size volume in Ghana stood at 141.0 Thousand Metric Tons. Observing the historical data from 2014 to 2023, the market volume has mostly remained steady, with some minor fluctuations. The notable drop was in 2020, when the volume decreased by 4.32% year-on-year. Since then, the market has recovered, with a significant rise of 5.26% in 2021.
Over the past two years, the market volume saw no year-on-year variation. The last Compound Annual Growth Rate (CAGR) for the five-year period was 0.14%, indicating a relatively stable market.
Looking forward, the forecasted data suggests a gradual increase in the sugar cane market size volume, reaching 142.19 Thousand Metric Tons by 2028, with a forecasted five-year CAGR of 0.12% and a forecasted growth rate of 0.62% over the next five years.
Future trends to watch for include potential influences of climate change on crop yields, technological advancements in sugar cane farming, government policies, and shifts in domestic and international demand for sugar products.
