Ghana
Sub-Saharan Africa
Discover more about the Ghana market including overviews about the retail, foodservice, and food-processing sectors.
32M
Population with emerging middle class
$35M
U.S. processed food exports in 2023
58%
Urban population in 2021
Market Overview
Ghana remains one of sub-Saharan Africa's fastest-growing economies with a population of about 32 million. Despite economic challenges from COVID-19 and the war in Ukraine, Ghana's economy expanded in real terms in 2022. The economy is expected to expand at an average annual GDP rate of 2% in 2023 and 3.8% in 2024.
Market Opportunities
- Growing youthful population with fast emerging middle class
- Rising urbanization boosting demand for high-value products
- U.S. food products perceived as high quality
- Gateway for re-exports to West African countries
Key Issues
- Higher freight costs for U.S. products
- Strong competition from Europe, Asia, and South Africa
- Price-sensitive consumers
Top U.S. Exports (2023)
Retail Sector
$2.8B
Retail sales in 2023
178%
Growth in retail sales
$5.9B
Forecast by 2028
Ghana presents exciting opportunities buoyed by fast urbanization, rising household incomes, a growing middle class, and transformation in eating habits. Major retailers include Melcom, Shoprite, Palace, Game, Koala, and MaxMart.
High Growth Products
Foodservice Sector
Several international retailers have expanded presence including Shoprite, Burger King, KFC, and Pizza Hut. The hotel and restaurant sector has seen sharp growth in recent years.
Best Prospects:
Seafood products, beef, pork, dairy products, condiments and sauces
Food Processing
Food processing is still underdeveloped with less than 200 certified firms. The local industry accounts for less than 30% of sourced processed foods on the market.
Opportunity:
Growing demand for processed foods as urban population expands
Additional Resources
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