Overview of the Market for Evaporated And Condensed Milk in Ghana
Market Overview
In 2019, the Ghanian evaporated and condensed milk market increased by 
% to $, rising for the second year in a row after three years of decline. In general, consumption continues to indicate resilient growth. The pace of growth was the most pronounced in 2014 with an increase of % against the previous year. Evaporated and condensed milk consumption peaked in 2019 and is expected to retain growth in the near future.
% to $, rising for the second year in a row after three years of decline. In general, consumption continues to indicate resilient growth. The pace of growth was the most pronounced in 2014 with an increase of % against the previous year. Evaporated and condensed milk consumption peaked in 2019 and is expected to retain growth in the near future.Consumption
In 2019, consumption of evaporated and condensed milk increased by % to tonnes, rising for the second year in a row after three years of decline. Overall, consumption saw a buoyant increase. The pace of growth appeared the most rapid in 2018 when the consumption volume increased by % year-to-year. Over the period under review, consumption reached the maximum volume in 2019 and is expected to retain growth in the near future.
The revenue of the evaporated and condensed milk market in Ghana skyrocketed to $ in 2019, picking up by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption enjoyed a strong increase. The growth pace was the most rapid in 2014 with an increase of % y-o-y. Over the period under review, the market hit record highs in 2019 and is likely to see steady growth in the near future.
% to tonnes, rising for the second year in a row after three years of decline. Overall, consumption saw a buoyant increase. The pace of growth appeared the most rapid in 2018 when the consumption volume increased by % year-to-year. Over the period under review, consumption reached the maximum volume in 2019 and is expected to retain growth in the near future.The revenue of the evaporated and condensed milk market in Ghana skyrocketed to $
in 2019, picking up by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption enjoyed a strong increase. The growth pace was the most rapid in 2014 with an increase of % y-o-y. Over the period under review, the market hit record highs in 2019 and is likely to see steady growth in the near future.Market Forecast
The evaporated and condensed milk market is expected to start a downward consumption trend over the next decade. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the eleven-year period from 2019 to , which is projected to depress the market volume to tonnes by the end of .
% for the eleven-year period from 2019 to , which is projected to depress the market volume to tonnes by the end of .Trade Balance
Ghana remains a net importer of evaporated and condensed milk; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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