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Ghana - Condensed or Evaporated Milk (Sweetened) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingGhana: Market for Condensed Or Evaporated Milk (Sweetened) 2024
Market Size for Condensed Or Evaporated Milk (Sweetened) in Ghana
After two years of growth, the Ghanian market for condensed or evaporated milk (sweetened) decreased by -28.1% to $X in 2022. In general, consumption, however, showed a slight expansion. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.
Production of Condensed Or Evaporated Milk (Sweetened) in Ghana
In value terms, sweetened condensed and evaporated milk production soared to $X in 2022 estimated in export price. Over the period under review, production enjoyed a significant expansion. The growth pace was the most rapid in 2020 with an increase of 600,237,100% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.
Exports of Condensed Or Evaporated Milk (Sweetened)
Exports from Ghana
Sweetened condensed and evaporated milk exports from Ghana soared to X tons in 2022, growing by 35% compared with the year before. Overall, exports saw a strong expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 434% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.
In value terms, sweetened condensed and evaporated milk exports soared to $X in 2022. In general, exports showed significant growth. The growth pace was the most rapid in 2018 with an increase of 750% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.
Exports by Country
Cote d'Ivoire (X tons) was the main destination for sweetened condensed and evaporated milk exports from Ghana, accounting for a 84% share of total exports. Moreover, sweetened condensed and evaporated milk exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Togo (X tons), sixfold.
From 2012 to 2022, the average annual rate of growth in terms of volume to Cote d'Ivoire totaled +33.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (-3.6% per year) and Benin (-42.4% per year).
In value terms, Cote d'Ivoire ($X) remains the key foreign market for condensed or evaporated milk (sweetened) exports from Ghana, comprising 93% of total exports. The second position in the ranking was taken by Togo ($X), with a 6.3% share of total exports.
From 2012 to 2022, the average annual rate of growth in terms of value to Cote d'Ivoire stood at +29.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (+5.4% per year) and Benin (-33.2% per year).
Export Prices by Country
The average export price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, rising by 6.4% against the previous year. Overall, the export price showed resilient growth. The pace of growth appeared the most rapid in 2018 an increase of 59% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Benin ($X per ton), while the average price for exports to Togo ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Benin (+15.9%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Condensed Or Evaporated Milk (Sweetened)
Imports into Ghana
In 2022, sweetened condensed and evaporated milk imports into Ghana declined rapidly to X tons, waning by -43% compared with 2021 figures. Overall, imports continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2021 with an increase of 601% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.
In value terms, sweetened condensed and evaporated milk imports fell rapidly to $X in 2022. In general, imports saw a mild curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 723% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.
Imports by Country
In 2022, Nigeria (X tons) constituted the largest supplier of sweetened condensed and evaporated milk to Ghana, accounting for a 61% share of total imports. Moreover, sweetened condensed and evaporated milk imports from Nigeria exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. Belgium (X tons) ranked third in terms of total imports with an 8.5% share.
From 2012 to 2022, the average annual rate of growth in terms of volume from Nigeria totaled +23.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-15.1% per year) and Belgium (-12.4% per year).
In value terms, Nigeria ($X) constituted the largest supplier of condensed or evaporated milk (sweetened) to Ghana, comprising 62% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 17% share of total imports. It was followed by Belgium, with an 8.2% share.
From 2012 to 2022, the average annual rate of growth in terms of value from Nigeria amounted to +15.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-7.1% per year) and Belgium (-10.8% per year).
Import Prices by Country
In 2022, the average import price for condensed or evaporated milk (sweetened) amounted to $X per ton, which is down by -1.6% against the previous year. Over the period under review, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sweetened condensed and evaporated milk import price increased by +15.5% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by 72%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for Ireland ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the market for sweetened condensed and evaporated milk in Ghana. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 889 - Whole Milk, Condensed
- FCL 896 - Skim Milk, Condensed
Country coverage:
- Ghana
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Ghana
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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