Based on the provided forecast data, wine demand in Ghana is expected to show a consistent decline from 2024 to 2028. In 2023, wine demand was at 3.85 thousand metric tons. The forecasted values indicate the following year-on-year percentage changes: a decrease of 8% in 2025, 9.5% in 2026, 10.2% in 2027, and 11.0% in 2028. Over the five-year period from 2024 to 2028, this results in a Compound Annual Growth Rate (CAGR) of approximately -10.55%, indicating a significant annual average decline in wine demand.
Future trends to watch for:
• Shifts in consumer preferences towards other beverages.
• Potential economic factors impacting disposable income and spending habits.
• Changes in trade policies or import regulations that may affect wine availability.
• Emerging local wine production that could alter the wine market dynamics in Ghana.
