Ghana Food And Drink Report Q1 2013 - New Market Report

New Food research report from Business Monitor International is now available from Fast Market Research

by Bill Thompson

(WireNews+Co) - Boston, MA - 11 February 2013

We remain extremely optimistic about the performance of Ghana's economy in the coming years, on the back of domestic oil production. In line with this view, we expect per capita food and beverage consumption to grow strongly over our forecast period to 2017, boosted by rising incomes and wealth redistribution. However, the underdeveloped mass grocery (MGR) retail network will hamper faster uptake of premium goods, with the sector yet to attract foreign investment.

Headline Industry Data

- 2013 per capita food consumption (local currency) = +2.5%; forecast compound annual growth rate (CAGR) to 2017 = +11.16%.
- 2013 beer volume sales = +8.0%; forecast CAGR to 2017 = +8.40%.
- 2013 carbonated drinks volume sales = +8.0%; forecast CAGR to 2017 = +9.40%.

View Full Report Details and Table of Contents (http://www.fastmr.com/prod/529346_ghana_food_and_drink_report_q1_2013.aspx?afid=201) (http://www.fastmr.com/prod/529346_ghana_food_and_drink_report_q1_2013.aspx?afid=201)

Key Industry Trends

Coca-Cola to Continue Emerging Markets Push: In September 2012, US soft drinks major The Coca- Cola Company was reported by Ghana Web as stating that it will continue investing in emerging markets and strive to build sustainable societies in these countries as part of its corporate social responsibility initiative. The company is particularly interested in pursuing opportunities for growth in African countries such as Ghana, where it said it will continue to develop products that meet local demand.

Guinness Ghana Breweries Ltd Launches New Product: In December 2012, Guinness Ghana Breweries Ltd (GGBL) introduced a new product on the market. The home-grown beer, Ruut Extra Premium Beer, is reportedly Ghana's first beer made out of cassava, which is widely grown in the country. According to the GGBL's statement quoted by the local press, 'Ruut Extra Premium Beer has been developed specifically to satisfy Ghanaian men looking for a premium local beer'. The project also supports the local market and economy, given that all ingredients are locally sourced.

Key Risks to Forecasts

Upside Inflation Risks: In addition to the possibility that the Ghana Statistical Service (GSS) may update its methodology in 2013, which could push up inflation figures, there are further risks to inflation in 2013. We note that the current account deficit remains wide, in spite of the new oil revenues, with attendant downside pressure on the cedi and upside pressure on inflation. The fiscal balance is also a concern, with negative implications for the currency, again posing upside risk to inflation. Furthermore, there is a significant chance that this will widen in the run-up to the December 2012 elections.

Fast Market Research (http://www.fastmr.com?afid=201) is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.