Travel & Tourism
The food and beverage industry is one of the most essential components of several economies across the world. The 2020 global food and beverage market size is estimated to be $7 trillion. Changing consumer lifestyles and consumer preferences, growing demand for organic food products, and evolving consumption and selling patterns are the key trends in the global market. Streamlined manufacturing processes and enhanced cold chain facilities are further supporting the market growth.
The Ghanaian beverage industry has for many years played a significant role in contributing not only to the general nutrition of Ghanaians but the overall development of the Ghanaian economy. Apart from the fiscal contribution of the beverage industry to Ghana’s economy, beverages are often at the center of all Ghanaian festivities, providing refreshment and quenching the thirst of millions of Ghanaians of all ages.
Ghana food and beverage market size is poised to report strong growth rate over the forecast period due to increasing population, rising disposable incomes, coupled with changing trends and product innovations.
- The global tea market size was valued at $52.1 billion in 2018 and is estimated to reach $81.6 billion by 2026, registering a CAGR of 5.8% from 2019 to 2026.
- The sector employs about approximately 45 percent of the population in Ghana and contributes approximately 20 percent of GDP.
- Construction of a US $100m cocoa processing factory with China support in Ghana to commence in 2020