Ghana - Spices - Market Analysis, Forecast, Size, Trends and Insights
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View PricingGhana: Spice Market 2024
Spice Market Size in Ghana
The Ghanian spice market dropped to $X in 2022, which is down by X% against the previous year. Overall, consumption recorded a slight decrease. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.
Spice Production in Ghana
In value terms, spice production contracted sharply to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Spice production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.
In 2022, the average spice yield in Ghana was estimated at X tons per ha, stabilizing at the year before. In general, the yield recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2015 to 2022, the growth of the average spice yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2022, the total area harvested in terms of spices production in Ghana shrank modestly to X ha, remaining stable against 2021. Over the period under review, the harvested area, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to spice production attained the peak figure at X ha in 2018; however, from 2019 to 2022, the harvested area stood at a somewhat lower figure.
Spice Exports
Exports from Ghana
In 2022, shipments abroad of spices increased by X% to X tons for the first time since 2017, thus ending a four-year declining trend. In general, exports posted buoyant growth. The most prominent rate of growth was recorded in 2017 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, spice exports contracted notably to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by X%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.
Exports by Country
Cote d'Ivoire (X tons), the United Arab Emirates (X tons) and the UK (X tons) were the main destinations of spice exports from Ghana, with a combined X% share of total exports.
From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of X%), while the other leaders experienced mixed trend patterns.
In value terms, the United Arab Emirates ($X), Cote d'Ivoire ($X) and the UK ($X) appeared to be the largest markets for spice exported from Ghana worldwide, with a combined X% share of total exports.
Among the main countries of destination, the United Arab Emirates, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.
Export Prices by Country
In 2022, the average spice export price amounted to $X per ton, with a decrease of X% against the previous year. In general, the export price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Benin ($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 the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.
Spice Imports
Imports into Ghana
For the fourth year in a row, Ghana recorded growth in overseas purchases of spices, which increased by X% to X tons in 2022. Over the period under review, imports recorded a resilient expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, spice imports fell to $X in 2022. Overall, imports showed a resilient increase. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then shrank modestly in the following year.
Imports by Country
The United Arab Emirates (X tons), India (X tons) and Brazil (X tons) were the main suppliers of spice imports to Ghana, together accounting for X% of total imports. Vietnam, the United States and Togo lagged somewhat behind, together accounting for a further X%.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the United Arab Emirates ($X) constituted the largest supplier of spices to Ghana, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by Brazil, with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Brazil (X% per year).
Import Prices by Country
The average spice import price stood at $X per ton in 2022, falling by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Togo ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced mixed trend patterns.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the spice market 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 687 - Pepper
- FCL 689 - Pimento
- FCL 692 - Vanilla
- FCL 693 - Cinnamon (canella)
- FCL 698 - Cloves
- FCL 702 - Nutmeg, mace, cardamoms
- FCL 711 - Anise, badian, fennel
- FCL 720 - Ginger
- FCL 723 - Spices nes
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
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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
- COUNTRIES WITH TOP YIELDS
- 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, HARVESTED AREA AND YIELD
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
- Yield 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
- Area Harvested, 2012–2023
- Yield, 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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