Hot Drinks - Ghana
Ghana- Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Hot Drinks market amounts to US$******m in ****.
- Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$*****m in ****.
- Revenue, combined amounts to US$******m in ****.
- The revenue, at home is expected to grow annually by ****% (CAGR *********).
- In global comparison, most revenue, at home is generated China (US$**bn in ****).
- In relation to total population figures, the average revenue per capita, at home of US$***** are generated in ****.
- In the Hot Drinks market, volume, at home is expected to amount to *****m kg by ****.
- Volume, out-of-home is expected to amount to ******k kg in ****.
- Volume, combined is expected to amount to *****m kg in ****.
- The Hot Drinks market is expected to show a volume growth, at home of ***% in ****.
- The average volume per person, at home in the Hot Drinks market is expected to amount to ****kg in ****.
Definition:
The Hot Drinks market includes the Coffee, Tea, and Cocoa market. In the Hot Drinks market, products in dry form (such as powders, beans, and leaves) are covered. The drink is prepared by adding liquids, such as hot water or milk, to the product. Ready-to-Drink (RTD) Coffee and Tea products in liquid form are in the corresponding segment in the Non-Alcoholic Drinks market.
Structure:
The Hot Drinks market is divided into the Coffee market, the Tea market, and the Cocoa market.
- The Coffee market consists of Roast Coffee in the form of ground coffee and whole beans, that is prepared with coffee machines or a French press, as well as Instant Coffee that only requires the addition of hot water.
- The Tea market consists of black tea, green tea, and mate sold in tea bags or as loose-leaf tea.
- The Cocoa market contains powder and powder-mixes for the preparation of cocoa drinks or hot chocolate.
Additional information:
The market comprises revenue and average revenue per capita, volume and average volume per capita, price per kilogram , as well as sales channels. Per capita figures refer to a country’s or region’s whole population.
At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments. In the out-of-home market, the price always refers to the price per kilogram of the beverage consumed, regardless of other components in the finished beverage. Combined numbers encompass both the at-home market and the out-of-home market. All prices are valued at retail selling prices, including all sales and consumption taxes.
Key players include Nestlé (e.g., Nescafé and Nespresso), Tchibo, Starbucks, Lavazza, and Tata Global Beverages (Tetley).- Roast Coffee, such as Peet's Coffee
- Instant Coffee, such as Nescafé Gold
- Tea, such as Republic of Tea Black Tea
- Cocoa, such as Nesquik
- RTDs derived from Coffee, Tea or Cocoa (e.g., Lipton Ice Tea)
Revenue
Volume
KeyPlayers
Price
Sales Channels
Global Comparison
Analyst Opinion
Customer preferences: Ghanaians have traditionally favored hot drinks such as tea and coffee. However, there has been a shift in customer preferences towards healthier options. This has led to an increased demand for herbal teas and specialty coffees. Consumers are becoming more health-conscious and are seeking out hot drinks that offer additional benefits, such as antioxidant properties or natural ingredients.
Trends in the market: One of the key trends in the Hot Drinks market in Ghana is the rise of specialty coffee shops. These establishments offer a wide range of coffee options, including single-origin beans and unique brewing methods. This trend has been driven by the growing middle class in Ghana, who are willing to spend more on high-quality coffee experiences. Specialty coffee shops also cater to the increasing demand for coffee among the younger generation, who are seeking out unique and Instagrammable experiences. Another trend in the market is the growing popularity of herbal teas. Ghanaians have a long history of using herbal remedies, and this has translated into a preference for herbal teas. Local herbs such as moringa, hibiscus, and ginger are commonly used in teas and are believed to have various health benefits. The demand for herbal teas has been further fueled by the global wellness trend, with consumers seeking out natural and plant-based products.
Local special circumstances: Ghana is known for its cocoa production, and this has had an impact on the Hot Drinks market. Ghanaian consumers have a strong preference for cocoa-based hot drinks, such as hot chocolate and cocoa-infused coffees. The availability of high-quality cocoa beans in the country has led to a thriving local chocolate industry, with artisanal chocolate makers offering unique hot chocolate blends.
Underlying macroeconomic factors: The Hot Drinks market in Ghana has been influenced by several macroeconomic factors. The country has experienced strong economic growth in recent years, leading to an increase in disposable income. This has allowed consumers to spend more on premium hot drinks and specialty coffee experiences. Additionally, the growing middle class in Ghana has contributed to the demand for higher quality and more diverse hot drinks options. In conclusion, the Hot Drinks market in Ghana is evolving to meet changing customer preferences. The rise of specialty coffee shops and the popularity of herbal teas reflect a growing demand for unique and healthier hot drink options. Local special circumstances, such as the cocoa industry, have also played a role in shaping the market. Overall, the Hot Drinks market in Ghana is poised for continued growth in the coming years.
Methodology
Data coverage:
The data encompasses B2C enterprises. Figures are based on private Household spendings on Hot Drinks. At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments.
In the out-of-home market, the price always refers to the price per kilogram of the beverage consumed, regardless of other components in the finished beverage.
Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as production data, region, and price level index. This data helps us estimate the market size for each country individually.
Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Hot Drinks market with a projected steady growth.
Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.
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