Dairy Products and Alternatives in Ghana

Dairy Products and Alternatives
in Ghana
Euromonitor International
September 2023
DAIRY PRODUCTS AND ALTERNATIVES IN GHANA Passport i
LIST OF CONTENTS AND TABLES

EXECUTIVE SUMMARY .............................................................................................................. 1
Dairy Products And Alternatives In 2023: The Big Picture ........................................................ 1
Country Background ................................................................................................................. 3
Socioeconomic Trends ............................................................................................................. 5
Logistics/infrastructure .............................................................................................................. 6
What Next For Dairy Products And Alternatives? ..................................................................... 6
MARKET DATA ............................................................................................................................ 7
Table 1 Sales of Dairy Products and Alternatives by Category: Value 2018-
2023 ............................................................................................................. 7
Table 2 Sales of Dairy Products and Alternatives by Category: % Value
Growth 2018-2023 ....................................................................................... 7
Table 3 NBO Company Shares of Dairy Products and Alternatives: % Value
2019-2023 .................................................................................................... 7
Table 4 LBN Brand Shares of Dairy Products and Alternatives: % Value 2020-
2023 ............................................................................................................. 8
Table 5 Distribution of Dairy Products and Alternatives by Format: % Value
2018-2023 .................................................................................................... 8
Table 6 Forecast Sales of Dairy Products and Alternatives by Category: Value
2023-2028 .................................................................................................... 9
Table 7 Forecast Sales of Dairy Products and Alternatives by Category: %
Value Growth 2023-2028 ............................................................................. 9
DISCLAIMER ............................................................................................................................. 10
BABY FOOD .............................................................................................................................. 10
2023 Developments ................................................................................................................ 10
Prospects And Opportunities .................................................................................................. 11
Category Data ........................................................................................................................ 12
Table 8 Sales of Baby Food by Category: Volume 2018-2023................................ 12
Table 9 Sales of Baby Food by Category: Value 2018-2023 .................................. 13
Table 10 Sales of Baby Food by Category: % Volume Growth 2018-2023 ............... 13
Table 11 Sales of Baby Food by Category: % Value Growth 2018-2023 .................. 14
Table 12 NBO Company Shares of Baby Food: % Value 2019-2023 ....................... 14
Table 13 LBN Brand Shares of Baby Food: % Value 2020-2023 .............................. 15
Table 14 Forecast Sales of Baby Food by Category: Volume 2023-2028................. 15
Table 15 Forecast Sales of Baby Food by Category: Value 2023-2028.................... 16
Table 16 Forecast Sales of Baby Food by Category: % Volume Growth 2023-
2028 ........................................................................................................... 16
Table 17 Forecast Sales of Baby Food by Category: % Value Growth 2023-
2028 ........................................................................................................... 17
DAIRY ........................................................................................................................................ 17
2023 Developments ................................................................................................................ 18
Category Data ........................................................................................................................ 19
Table 18 Sales of Dairy by Category: Volume 2018-2023 ........................................ 19
Table 19 Sales of Dairy by Category: Value 2018-2023 ........................................... 21
Table 20 Sales of Dairy by Category: % Volume Growth 2018-2023 ........................ 22
Table 21 Sales of Dairy by Category: % Value Growth 2018-2023 ........................... 23
© Euromonitor International
DAIRY PRODUCTS AND ALTERNATIVES IN GHANA Passport ii
Table 22 NBO Company Shares of Dairy: % Value 2019-2023 ................................ 24

Table 23 LBN Brand Shares of Dairy: % Value 2020-2023 ....................................... 24
Table 24 Forecast Sales of Dairy by Category: Volume 2023-2028.......................... 24
Table 25 Forecast Sales of Dairy by Category: Value 2023-2028............................. 26
Table 26 Forecast Sales of Dairy by Category: % Volume Growth 2023-2028 ......... 27
Table 27 Forecast Sales of Dairy by Category: % Value Growth 2023-2028 ............ 28
PLANT-BASED DAIRY............................................................................................................... 29
2023 Developments ................................................................................................................ 29
Category Data ........................................................................................................................ 29
Table 28 Sales of Plant-Based Dairy by Category: Value 2018-2023 ....................... 29
Table 29 Sales of Plant-Based Dairy by Category: % Value Growth 2018-2023 ...... 30
Table 30 Forecast Sales of Plant-Based Dairy by Category: Value 2023-2028 ........ 30
Table 31 Forecast Sales of Plant-Based Dairy by Category: % Value Growth
2023-2028 .................................................................................................. 30
DAIRY PRODUCTS AND ALTERNATIVES IN GHANA Passport 1
DAIRY PRODUCTS AND

ALTERNATIVES IN GHANA
EXECUTIVE SUMMARY
Demand for dairy is growing among low socioeconomic groups thanks to its healthy image,
despite the rising cost of living. Independent small grocers continue to characterise the
distribution of dairy as modern retailing remains in its infancy, especially in urban areas, though
sales are growing. Despite high inflation levels and the cost of living crisis, demand for dairy
products and alternatives has remained fairly stable throughout 2023 so far.
Dairy Products And Alternatives In 2023: The Big Picture

▪ In 2023, the prices of dairy products continue to rise, albeit at a slightly lower rate compared
to 2022. As a result, consumers have become more conservative in their spending and are
economising where possible.
▪ The competitive landscape is expanding, and price, quantity, and quality maintain their status
as pivotal factors for consumers, particularly during 2023, due to the surge in food prices.
Meanwhile, dairy industry leaders such as Nestlé Ghana, Friesland Campina, and Promasidor
maintain their dominance in categories across the industry.
▪ The industry continues to witness the introduction of new brands, both imported and
domestically manufactured. Such developments offer consumers an ever-expanding array of
choices and product diversity, which encourages consumption in both urban and rural
settings.
▪ The health and wellness trend continues to gather pace in 2023, which means consumers are
prioritising healthier options within dairy products. Nevertheless, due to the added cost of
such products, many consumers are alternating between healthier and less healthier
products, in a bid to balance their diet and stay within their budgets.
▪ Despite being ranked as one of the fastest-growing economies in Africa by the IMF, this has
yet to translate into improving living standards for Ghanaians. While many government
policies are currently being implemented to reform the economy, it will take time for living
standards to improve with almost a third of the population still living below the international
poverty line (USD3.10 a day) as of 2023.
▪ People living in rural areas tend to eat two main meals per day and these tend to be very
heavy meals, especially among manual workers such as farmers. Many people in rural areas
have direct access to locally cultivated fresh food and so they eat relatively low amounts of
packaged food. Most eat their first meal of the day at around 10.00hrs or 11.00hrs and the
second meal at around 17.00hrs or 18.00hrs. Snacking is common between these meals,
including roasted plantain with groundnut or soakings with milk. Urban dwellers are more
likely to eat three full meals (breakfast, lunch and dinner) and much less likely to snack
between meals.
▪ Dairy products have over the years become a staple food in Ghana establishing themselves
as a key component of standard meals. Dairy in Ghana is dominated by condensed milk and
powder milk, with these products being used for breakfast meals such as porridge, tea,
cereals, and other beverages. There has also been an increase in street food vendors selling
local porridge, such as ‘’Koko’’, as well as tea, oats, and other beverages, with these using
milk in larger quantities. Dairy products such as drinking yoghurt, flavoured milk drinks, and
shelf stable milk have also become popular, with sales being driven by consumers who are
looking to make healthier choices, as well as looking to aid their children’s growth and
development. Previously, most people in Ghana only saw dairy products as a complement to
meals, with these products being a way to add flavour and richness. However, knowledge
about the nutritional value of dairy – mainly milk and yoghurt – is growing and hence demand
continues to increase. Butter, on the other hand, has struggled to gain a stronger foothold in
Ghana, which is largely because the local cuisine is not compatible with the use of butter.
Nevertheless, the growing number of expats in the country is helping to raise demand for
butter although its availability is still largely restricted to urban modern grocery retailers.
▪ Most people do not know how to prepare foreign food. Although quite a diverse range of
dishes is enjoyed in restaurants, including Chinese food and Italian food such as pizzas and
pasta, few people actually prepare these dishes at home. It is mainly the Middle-Eastern
community, expatriates and Ghanaians who have lived abroad for some time who prepare
foreign dishes.
▪ Obesity is not a major health issue in Ghana, with only 21% of the adult population
overweight, while 11% are classified as obese. However, the rate of obesity is considerably
higher in urban areas, with those living in the Greater Accra region having a much higher
number of adults classified as obese. There are cultural reasons for the tendency for affluent
urban dwellers to be overweight and obese, specifically when being overweight has
traditionally been seen as an indicator of prosperity and wealth, especially among those from
the Volta, Ashanti and Greater Accra regions. Furthermore, rising purchasing power and
increasingly hectic and complex lifestyles have led to higher consumption of Western-style
convenience food, confectionery and fast food in Accra and other major cities, which is also
contributing to the increasing prevalence of obesity. In addition, traditional female beauty
ideals have centred on women who are quite plump, rather than the slim figures
representative of the Western beauty ideal. This has led many to regard being slightly
overweight as desirable, contributing to the types of behaviours that contribute to obesity.
▪ Despite major progress in recent years, malnutrition remains a major issue in Ghana. A study
conducted during the review period by the United Nations’ World Food Programme (UNWFP)
found that child malnutrition costs the country’s economy 6% of its annual GDP, some
USD2.6 billion every year, and that it had reduced the country’s active workforce by 7.3%.
This study also revealed that 37% of Ghana’s adult population suffered from stunting as a
child, while 24% of all child mortality in the country was associated with malnutrition, resulting
in some 10,000 extra child deaths per year.
▪ The government promotes healthy eating through the broadcasting of various television
programmes explaining the dangers of various illnesses and health conditions that derive
from poor diets and unhealthy living. In addition, many people are starting to realise the
importance of healthy eating which is boosting demand for smaller portions and less oily and
less sugary food and eschewing dishes that are perceived as inherently unhealthy. However,
packaged food companies have not yet responded to this by offering healthier products.
▪ Nevertheless, healthy eating trends are becoming more evident in the country and it is
becoming common for Ghanaians to control their portion sizes, while many are ensuring they
eat more greens. Some are starting to demand less oil in their soups, while certain dishes are
gaining a reputation for being less healthy. These include palm nut soup, which is notoriously
rich and heavy. This is also leading to a move away from unbranded to branded products,
especially in palm oil, a reflection of growing health consciousness. However, these healthy
eating habits are generally confined to more enlightened people among high-income groups,
while the low-income majority are more concerned with obtaining adequate nutrition rather
than the healthfulness of the food they manage to eat.
▪ Industry players are also developing smaller packaging sizes in a variety of packaged food
categories, which enable the lower socioeconomic groups to afford to buy them. While many
single-portion sizes are only available via the informal sector, such sales nevertheless also
help to boost brand awareness.
▪ Population growth and consistent improvements in the economy as well as the development
of modern retailing are all expected to have a positive influence on sales of dairy products and
alternatives over the forecast period. Nevertheless, it is unlikely that the growth rates
registered over the review period will be matched. This is mainly because many middle-class
households are now feeling a lot of pressure from the rising cost of living and stagnant growth
in incomes. This means that demand for higher-priced, value-added products is likely to come
under pressure, especially in Accra, where the cost of living is considerably higher than in
other parts of the country. At the same time, more essential products are likely to be
prioritised as spending comes under pressure. However, as increasing numbers of
households rise out of poverty, demand for more basic products is likely to support growth
including dairy products and alternatives.
Country Background
▪ Despite being ranked as one of the fastest-growing economies in Africa by the IMF, this has
yet to translate into improving living standards for Ghanaians. While many government
policies are currently being implemented to reform the economy, it will take time for living
standards to improve with almost a third of the population still living below the international
poverty line (USD3.10 a day) as of 2023.
▪ People living in rural areas tend to eat two main meals per day and these tend to be very
heavy meals, especially among manual workers such as farmers. Many people in rural areas
have direct access to locally cultivated fresh food and so they eat relatively low amounts of
packaged food. Most eat their first meal of the day at around 10.00hrs or 11.00hrs and the
second meal at around 17.00hrs or 18.00hrs. Snacking is common between these meals,
including roasted plantain with groundnut or soakings with milk. Urban dwellers are more
likely to eat three full meals (breakfast, lunch and dinner) and much less likely to snack
between meals.
▪ Dairy products have over the years become a staple food in Ghana establishing themselves
as a key component of standard meals. Dairy in Ghana is dominated by condensed milk and
powder milk, with these products being used for breakfast meals such as porridge, tea,
cereals, and other beverages. There has also been an increase in street food vendors selling
local porridge, such as ‘’Koko’’, as well as tea, oats, and other beverages, with these using
milk in larger quantities. Dairy products such as drinking yoghurt, flavoured milk drinks, and
shelf stable milk have also become popular, with sales being driven by consumers who are
looking to make healthier choices, as well as looking to aid their children’s growth and
development. Previously, most people in Ghana only saw dairy products as a complement to
meals, with these products being a way to add flavour and richness. However, knowledge
about the nutritional value of dairy – mainly milk and yoghurt – is growing and hence demand
continues to increase. Butter, on the other hand, has struggled to gain a stronger foothold in
Ghana, which is largely because the local cuisine is not compatible with the use of butter.
Nevertheless, the growing number of expats in the country is helping to raise demand for
butter although its availability is still largely restricted to urban modern grocery retailers.
▪ Most people do not know how to prepare foreign food. Although quite a diverse range of
dishes is enjoyed in restaurants, including Chinese food and Italian food such as pizzas and
pasta, few people actually prepare these dishes at home. It is mainly the Middle-Eastern
community, expatriates and Ghanaians who have lived abroad for some time who prepare
foreign dishes.
▪ Obesity is not a major health issue in Ghana, with only 21% of the adult population
overweight, while 11% are classified as obese. However, the rate of obesity is considerably
higher in urban areas, with those living in the Greater Accra region having a much higher
number of adults classified as obese. There are cultural reasons for the tendency for affluent
urban dwellers to be overweight and obese, specifically when being overweight has
traditionally been seen as an indicator of prosperity and wealth, especially among those from
the Volta, Ashanti and Greater Accra regions. Furthermore, rising purchasing power and
increasingly hectic and complex lifestyles have led to higher consumption of Western-style
convenience food, confectionery and fast food in Accra and other major cities, which is also
contributing to the increasing prevalence of obesity. In addition, traditional female beauty
ideals have centred on women who are quite plump, rather than the slim figures
representative of the Western beauty ideal. This has led many to regard being slightly
overweight as desirable, contributing to the types of behaviours that contribute to obesity.
▪ Despite major progress in recent years, malnutrition remains a major issue in Ghana. A study
conducted during the review period by the United Nations’ World Food Programme (UNWFP)
found that child malnutrition costs the country’s economy 6% of its annual GDP, some
USD2.6 billion every year, and that it had reduced the country’s active workforce by 7.3%.
This study also revealed that 37% of Ghana’s adult population suffered from stunting as a
child, while 24% of all child mortality in the country was associated with malnutrition, resulting
in some 10,000 extra child deaths per year.
▪ The government promotes healthy eating through the broadcasting of various television
programmes explaining the dangers of various illnesses and health conditions that derive
from poor diets and unhealthy living. In addition, many people are starting to realise the
importance of healthy eating which is boosting demand for smaller portions and less oily and
less sugary food and eschewing dishes that are perceived as inherently unhealthy. However,
packaged food companies have not yet responded to this by offering healthier products.
▪ Nevertheless, healthy eating trends are becoming more evident in the country and it is
becoming common for Ghanaians to control their portion sizes, while many are ensuring they
eat more greens. Some are starting to demand less oil in their soups, while certain dishes are
gaining a reputation for being less healthy. These include palm nut soup, which is notoriously
rich and heavy. This is also leading to a move away from unbranded to branded products,
especially in palm oil, a reflection of growing health consciousness. However, these healthy
eating habits are generally confined to more enlightened people among high-income groups,
while the low-income majority are more concerned with obtaining adequate nutrition rather
than the healthfulness of the food they manage to eat.
▪ Industry players are also developing smaller packaging sizes in a variety of packaged food
categories, which enable the lower socioeconomic groups to afford to buy them. While many
single-portion sizes are only available via the informal sector, such sales nevertheless also
help to boost brand awareness.
▪ Population growth and consistent improvements in the economy as well as the development
of modern retailing are all expected to have a positive influence on sales of dairy products and
alternatives over the forecast period. Nevertheless, it is unlikely that the growth rates
registered over the review period will be matched. This is mainly because many middle-class
households are now feeling a lot of pressure from the rising cost of living and stagnant growth
in incomes. This means that demand for higher-priced, value-added products is likely to come
under pressure, especially in Accra, where the cost of living is considerably higher than in
other parts of the country. At the same time, more essential products are likely to be
prioritised as spending comes under pressure. However, as increasing numbers of

households rise out of poverty, demand for more basic products is likely to support growth
including dairy products and alternatives.
Socioeconomic Trends
▪ In 2023, the government's consistent tax and levy hikes continue to drive prices upwards. For
example, VAT has surged from 13% to 15%, further inflating the cost of everyday products.
Despite a slight decline, inflation persists at alarming levels, continuing to push consumer
goods prices up. Concurrently, the nation grapples with significant macroeconomic hurdles,
leading to increased fuel costs and overall higher production expenses.
▪ Ghanaian cuisine is notoriously labour-intensive and most dishes take several hours to
prepare. As the lifestyles of the urban middle class become busier and more hectic, mid- and
high-income consumers are increasingly resorting to more basic dishes such as fried rice
which are far quicker to prepare, reserving their consumption of elaborate, time-consuming
dishes for when they are dining out and preparing them only for special occasions.
▪ Ghana is a country with a young population with a median age of just 22 years. Ghana’s birth
rate stands at 28.2 live births/1,000 population, although this has fallen from 30.3 live
births/1,000 population in 2016. Although increasing numbers of expatriates are coming to live
in Ghana, high rates of emigration among young men, mainly to Western Europe and North
America, ensure that the net migration rate remains negative.
▪ The high proportion of the country’s population accounted for by babies and children
continues to support strong growth in sales of baby food. Traditionally packaged baby food
(milk formula and dried baby food) was not a big part of baby nutrition with mothers instead
relying on breastmilk and locally-made unpackaged baby food produced from cereals and
legumes to feed their babies. This situation has now changed, however, with packaged baby
food from brands such as Cerelac and Nan (both from Nestlé) now being a major part of a
baby’s nutrition, even among lower-income earners. Packaged baby food is viewed as more
hygienic, nutritious, convenient, and modern, especially among the increasing numbers of
working mothers who have limited time to breastfeed their babies or prepare home-made
baby food for them.
▪ While low-income people rely on informal channels for the vast majority of their food
purchases, many middle-class people also buy a lot of their food through informal channels.
The most common places where food is purchased are open markets located in residential
neighbourhoods in large cities. These are also the major source of many packaged food
products, especially low-priced staples. Most middle-class people purchase more expensive
value-added products from supermarkets, although financial pressure means that almost all
middle-income consumers are also quite price-conscious. The wealthy elite comprises some
5% of Ghana’s society, and this includes the expatriate population. Money is generally not a
concern for these people and they can usually spend freely, purchasing all of their food from
supermarkets.
▪ Fridges are quite common in retail outlets, including independent small grocers in urban
areas, although freezers are less common and are generally seen only in all modern grocery
retailing channels currently available (ie supermarkets, hypermarkets and convenience
stores). Among consumers, it is only more affluent mid- and high-income households that
have fridges, let alone freezers. Low-income and less affluent mid-income households rarely
have fridges, which limits demand for some dairy products to these consumers.
Logistics/infrastructure
▪ The distribution of packaged food between the country’s major urban areas is efficient and
well organised. Indeed, the transportation of goods between Greater Accra, Takoradi, Kumasi
and to a lesser extent Tamale and other major towns and cities is generally quick and trouble-
free. Outside of the main urban areas, however, unreliable and underdeveloped infrastructure
and often dangerous roads present challenges to the distribution of both fresh food and
packaged food. In particular, access to remote rural areas can be problematic and, for this
reason, dairy products such as tinned condensed milk, among many others, have only been
available in these remote areas for around 10-15 years. However, improvements are
constantly being made to the country’s food distribution infrastructure and it can be expected
that disparities in the supply of packaged dairy in urban and rural areas will diminish over the
forecast period.
▪ Nevertheless, the limited purchasing power of rural consumers is set to continue making it
difficult for packaged food and retailing companies to justify investing significantly in
expanding the distribution of their products into less developed parts of the country. For this
reason, it is likely that the range of packaged dairy products and alternatives available outside
of the main urban areas will remain considerably more limited than in town and cities for the
foreseeable future.
▪ Open markets are the most important sources of staple foodstuffs for most people. Other
grocery items are usually purchased from independent small grocers located in their
neighbourhoods, although it is common for people to purchase some items in bulk from the
wholesalers which are a feature of most open markets. However, demand for packaged food
is slowly shifting towards supermarkets and forecourt retailers due to urbanisation and rising
affluence among the middle class. These modern retail channels are regarded as quite
prestigious and are becoming more popular as they are cleaner and more hygienic than open
markets, offer wider ranges of products than independent small grocers and have more
transparency in pricing.
▪ In particular, modern retailing is popular among affluent urban dwellers and the expatriate
population, most of whom do not make use of traditional grocery retailing channels. However,
it should be noted that most packaged dairy products are still distributed through traditional
channels and this is because it is invariably cheaper and more convenient to buy products
through traditional grocery retailers. It should also be noted that affluent people often send a
domestic servant to go shopping in traditional grocery retailers to buy their essentials rather
than visit these outlets themselves.
▪ More consumers are shifting away from modern grocery retailers and to the open markets to
shop for dairy products and baby foods. Even though many middle and upper-class
consumers find shopping in modern grocery retailers more convenient, open markets are now
more affordable. Prices in the modern channel have increased astronomically because
modern trade is more regulated with taxes, levies, and VAT requirements.
What Next For Dairy Products And Alternatives?

▪ Over the forecast period, bulk buying will increase across all categories, driven by consumers
seeking affordability. Additionally, larger packaging sizes will gain popularity due to their
perceived cost-effectiveness for household use. This trend is expected to extend to categories
such as powdered milk.
▪ The health and wellness trend will continue gathering pace which will lead to increased
product innovations in the next five years. A plethora of low-cholesterol and health-focused
brands are poised to enter various categories, such as alternative dairy products, dairy milk
beverages, and yoghurt The demand for these brands will be mainly among the older
generation, as they tend to be more health-conscious compared to the younger generation.
▪ While Nestlé, Friesland Campina, and Promasidor are poised to maintain their leading
positions, their market shares are expected to decrease as emerging affordable brands
appeal to economising consumers. Notably, certain smaller brands are already witnessing an
expansion in shelf space. Price, size, taste, and packaging will stand as the primary factors
influencing competition in this landscape.
▪ In terms of new product developments within drinking dairy products, there will be a wider
diversity of flavours on offer. These flavours, particularly appealing to the younger generation,
enhance the appeal of food items and lend and will therefore capture new consumers keen to
try exciting new products.
MARKET DATA
Table 1 Sales of Dairy Products and Alternatives by Category: Value 2018-2023
GHS million
2018 2019 2020 2021 2022 2023
Baby Food 187.9 215.9 247.9 298.6 416.4 686.9

Dairy 3,402.5 3,999.9 4,713.9 5,358.1 7,599.3 12,247.9
Plant-based Dairy 99.3 116.3 137.6 160.3 192.2 349.5
Dairy Products and 3,689.7 4,332.2 5,099.4 5,817.0 8,208.0 13,284.4
Alternatives
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Table 2 Sales of Dairy Products and Alternatives by Category: % Value Growth 2018-
2023
% current value growth

2022/23 2018-23 CAGR 2018/23 Total
Baby Food 65.0 29.6 265.6

Dairy 61.2 29.2 260.0
Plant-based Dairy 81.8 28.6 251.9
Dairy Products and Alternatives 61.8 29.2 260.0
Table 3 NBO Company Shares of Dairy Products and Alternatives: % Value 2019-2023
% retail value rsp

Company 2019 2020 2021 2022 2023
Nestlé Ghana Ltd 42.2 43.4 43.1 41.5 40.7

Promasidor Ghana Ltd 13.4 13.5 13.6 14.9 15.7
Royal FrieslandCampina NV 5.0 5.1 5.1 5.4 5.9
Calidad Pascual SAU 2.2 2.1 2.1 2.0 1.8
Gentle Giants Ltd 1.9 1.9 1.9 1.6 1.8
Upfield Foods Ghana Ltd 2.3 2.0 1.9 1.7 1.2
Fan Milk Plc 1.2 1.2 1.1 1.1 1.1
Arla Foods BV 1.2 1.2 1.2 0.9 1.0

Namio Ghana Ltd 0.2 0.3 0.3 0.3 0.3
Atona Foods Co Ltd 0.4 0.4 0.3 0.3 0.3
Lactasoy Co Ltd 0.3 0.3 0.4 0.3 0.3
Tiger Brands Ltd 0.2 0.2 0.2 0.1 0.1
Wyeth Nutritional Inc 0.1 0.1 0.1 0.1 0.1
Nutricia Ltd 0.0 0.0 0.0 0.0 -
Unilever Ghana Ltd - - - - -
Others 29.2 28.4 28.6 29.7 29.6
Total 100.0 100.0 100.0 100.0 100.0
Table 4 LBN Brand Shares of Dairy Products and Alternatives: % Value 2020-2023
% retail value rsp

Brand (GBO) Company (NBO) 2020 2021 2022 2023
Ideal (Nestlé SA) Nestlé Ghana Ltd 20.1 19.9 18.5 17.5
Carnation (Nestlé SA) Nestlé Ghana Ltd 17.8 17.7 17.7 17.5
Cowbell (Promasidor Promasidor Ghana Ltd 12.8 13.0 14.3 15.0
(South Africa) (Pty)
Ltd)
Peak Royal FrieslandCampina NV 5.1 5.1 5.4 5.9
Nido (Nestlé SA) Nestlé Ghana Ltd 2.9 2.9 3.1 3.4
Pascual Calidad Pascual SAU 2.1 2.1 2.0 1.8
Vitamilk (Green Spot Gentle Giants Ltd 1.9 1.9 1.6 1.8
Co Ltd)
Cerelac (Nestlé SA) Nestlé Ghana Ltd 1.6 1.7 1.4 1.5
Blue Band (Upfield Upfield Foods Ghana Ltd 2.0 1.9 1.7 1.2
Holdings BV)
FanMaxx (Danone, Fan Milk Plc 1.2 1.1 1.1 1.1
Groupe)
Dano (Arla Foods Amba) Arla Foods BV 1.2 1.2 0.9 1.0
Briella Yumvita Promasidor Ghana Ltd 0.7 0.7 0.6 0.7
(Promasidor (South
Africa) (Pty) Ltd)
Nan (Nestlé SA) Nestlé Ghana Ltd 0.6 0.6 0.5 0.5
Namio Namio Ghana Ltd 0.3 0.3 0.3 0.3
Atona Atona Foods Co Ltd 0.4 0.3 0.3 0.3
Lactasoy Lactasoy Co Ltd 0.3 0.4 0.3 0.3
Lactogen (Nestlé SA) Nestlé Ghana Ltd 0.3 0.3 0.2 0.2
Purity Tiger Brands Ltd 0.2 0.2 0.1 0.1
SMA (Nestlé SA) Wyeth Nutritional Inc 0.1 0.1 0.1 0.1
Nestum (Nestlé SA) Nestlé Ghana Ltd 0.1 0.1 0.0 0.0
Cow & Gate (Danone, Nutricia Ltd 0.0 0.0 0.0 -
Groupe)
Blue Band (Unilever Unilever Ghana Ltd - - - -
Group)
Others Others 28.4 28.6 29.7 29.6
Total Total 100.0 100.0 100.0 100.0
Table 5 Distribution of Dairy Products and Alternatives by Format: % Value 2018-2023
% retail value rsp
2018 2019 2020 2021 2022 2023
Retail Channels 100.0 100.0 100.0 100.0 100.0 100.0

- Retail Offline 100.0 100.0 100.0 100.0 100.0 100.0
-- Grocery Retailers 89.3 89.5 90.8 91.7 91.8 91.9
--- Convenience Retail 13.5 13.3 11.2 10.3 8.5 7.7
---- Convenience Stores 13.5 13.3 11.2 10.3 8.5 7.7
---- Forecourt Retailers - - - - - -
--- Supermarkets 4.5 4.0 3.0 2.3 2.0 1.7
--- Hypermarkets 7.8 7.7 7.0 6.3 6.5 6.7
--- Discounters - - - - - -
--- Warehouse Clubs - - - - - -
--- Food/drink/tobacco - - - - - -
specialists
--- Small Local Grocers 63.6 64.5 69.6 72.8 74.9 75.8
-- Non-Grocery Retailers 10.7 10.5 9.2 8.3 8.2 8.1
--- General Merchandise 9.3 9.1 8.0 7.2 7.3 7.3
Stores
--- Apparel and - - - - - -
Footwear Specialists
--- Appliances and - - - - - -
Electronics Specialists
--- Home Products - - - - - -
Specialists
--- Health and Beauty 1.4 1.4 1.2 1.1 0.9 0.7
Specialists
--- Leisure and - - - - - -
Personal Goods
Specialists
--- Other Non-Grocery 0.0 0.0 - 0.0 0.0 0.0
Retailers
-- Vending - - - - - -
-- Direct Selling - - - - - -
- Retail E-Commerce - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 6 Forecast Sales of Dairy Products and Alternatives by Category: Value 2023-
2028
GHS million
2023 2024 2025 2026 2027 2028
Baby Food 686.9 659.6 656.8 669.8 691.1 719.0

Dairy 12,247.9 12,254.1 11,788.8 11,811.5 12,344.5 12,940.3
Dairy Products and 13,284.4 13,272.7 12,822.7 12,880.8 13,461.0 14,112.7
Alternatives
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
Table 7 Forecast Sales of Dairy Products and Alternatives by Category: % Value Growth
2023-2028
% constant value growth

2023/2024 2023-28 CAGR 2023/28 Total
Baby Food -4.0 0.9 4.7

Dairy 0.1 1.1 5.7
Dairy Products and Alternatives -0.1 1.2 6.2
trade sources
DISCLAIMER
Forecast and scenario closing date: 31 July 2023
Report closing date: 9 August 2023
Analysis and data in this report give full consideration to consumer behaviour and market
performance in 2023 and beyond as of the dates above. For the very latest insight on this
industry and consumer behaviour, at both global and national level, readers can access
strategic analysis and updates on www.euromonitor.com and via the Passport system, where
new content is being added on a systematic basis.
Market sizes are researched at category level, lower data levels are modelled.
BABY FOOD
2023 Developments
▪ Demand for dried baby food – mainly Cerelac (Nestlé) and Briella Yumvita (Promasidor)
continues to increase in 2023, after sales suffered due to the impact of COVID-19 in 2020 and
2021. The increased demand is being driven by the reopening of schools along with general
economic activities picking up. Furthermore, dried baby food products such as Cerelac are
not only being consumed by babies or young children anymore but are also being eaten by
older children too, largely those in high school and tertiary schools, as well as some working
adults. Some of these consumers are eating dried baby food as a snack and others as a full
meal and therefore demand increased when schools resumed.
▪ Baby food prices have surged by over 50% in 2023, although the escalation in Cerelac's
prices has been less pronounced than Yumvita. With that being said, there is set to be a
relative moderation in prices, influenced by the strengthening cedi and a marginal reduction in
inflation. Despite price sensitivity, particularly among lower-income consumers, mothers
continue to purchase baby food, prioritising their children's needs over their own. Not
purchasing baby food is simply not an option, and instead, mothers will purchase reduced
quantities or smaller packaging options.
▪ Mothers in Ghana are quite critical about the kind of baby food that they feed their babies.
The market is quite conservative so when people develop trust for a particular brand, brand
loyalty is generally strong. Nonetheless, some mothers, mainly upper and middle class, have
become a bit more receptive to trying new brands, especially premium imported brands like
Aptamil (Danone). Therefore, premium baby food is seen to have bright prospects as the
market expands, with these products often perceived to be safer and healthier. In line with
this, there has been observed on the market a growing range of imported prepared and dried
baby food products, including those from Purity (Tiger Brands), Enfamil, Similac, Kendamil,
and Heinz in modern grocery retailers and specialist baby shops.
▪ Other forms of baby food such as prepared baby food, baby yogurts, and fruit and vegetable
(carrots) purees are gradually becoming more popular. Although a niche market, there is
potential in this area because mothers are now looking for other forms of baby food to
complement their milk formula and dried baby food. In modern grocery retailers and specialist
baby shops, for instance, there is a growing range of prepared baby food and baby yoghurt
from brands such as Purity (Tiger Brands), Heinz (Kraft Heinz Company), Cow & Gates
(Nutricia Ltd).
▪ Baby food continues to face competition from locally-made alternatives. For example, Tom
Brown is a cereal legume mix that remains a popular alternative to dried baby food. Many
mothers either switch from dried baby food to Tom Brown at a certain point or use it alongside
dried baby food.
▪ According to industry players, the prospects for growing-up milk formula look bright as
demand for these products continues to increase, especially growing-up milk formula (1-3
years). This type of milk formula, according to most mothers, serves multiple purposes as it
can sometimes be used to complement breastmilk while at other times it can be added to
other food for their babies such as Tom Brown (locally-made cereal and legume porridge mix)
and rice porridge to provide enriched baby nutrition. For instance, Nido 1+ (Nestlé) has
become very popular among mothers for this purpose, while other brands such as Aptamil
with Pronutra 3 are also seeing a growing presence in the market.
▪ Aside from milk formula, dried baby food has the biggest market size with brands like Cerelac
and Yumvita leading. Their sales performances have remained positive, however, prices have
increased throughout the category. Nonetheless, anticipated growth in the coming years is
underpinned by factors such as bulk purchases becoming more affordable, and the
competitive prices of certain products.
▪ In 2023, NAN (Nestlé) remains the most preferred milk formula in Ghana. It is affordable, has
good quality, and is widely distributed across channels, modern trade, and the open markets.
The shelf space of NAN remains significantly high across all channels ,however the brand is
facing competition from Aptamil, a premium imported brand.
▪ In 2023, a new variant of Cerelac, featuring a blend of fruit and milk, has been introduced.
▪ Since its launch, Nido 1+ milk formula is becoming increasingly popular. The shelf space of
the brand in modern grocery retailers and baby-specific stores continues to grow. The multi-
purpose use of milk as an instant milk formula and as a complement to other baby foods
makes it popular. However, currently, Nido 1+ faces competitors from Peak, an instant milk
formula that is also becoming popular.
▪ Prepared baby food remains a niche in Ghana, however brands like Purity continue to grow
across modern grocery retailers and baby-specific stores. Compared to competitor brands like
Cow and Gates and Heinz, the brand is more affordable.
▪ Baby and mother-specific stores are popping up all over the city. These shops sell mainly
baby food and other baby products. Likewise, more of these stores are now opening in
residential areas as demand for baby food continues to increase.
▪ Baby food is sold mainly in supermarkets, specialist baby shops, and other channels such as
chemists/pharmacies and some neighbourhood-based independent small grocers. When
COVID-19 restrictions were introduced in 2020, some retailers were forced to close; however,
all of the channels that sell baby food, particularly baby specialist shops, were allowed to
operate because they were considered essential services.
Prospects And Opportunities

▪ The length of time for which mothers continue to breastfeed their babies seems to be
declining, which is largely because of the increased number of working mothers who have to
return to work after delivery. Therefore, demand for baby food and especially milk formula is
likely to increase. In addition to that, there is growing knowledge and awareness about baby
health and nutrition so most mothers are now more critical of the baby food brands they feed
their babies, with this being seen even among lower-income mothers. Packaged baby food is
considered more hygienic, convenient, and nutritious and therefore demand is likely to
continue growing.
▪ However, over the forecast period, baby food will remain a stable category in Ghana, with no
drastic changes expected at any point. Dried baby food will continue to drive overall demand,
followed by milk formula. Nonetheless, there is expected to be growth in other baby food
products such as baby yoghurts as the economy improves and mothers therefore have more
money to spend.
▪ The local baby cereal brand Tom Brown is expected to perform well in 2024 and beyond. Tom
Brown offers a mix of cereal and legumes that some mothers consider essential for their
babies’ development.
▪ Prepared baby food will remain niche over the forecast period, and only a marginal expansion
of this category is expected. This is due to the limited trust that mothers have in such
products.
▪ Finally, more pharmacies are set to stock a wider range of baby products in the years to
come. As mothers prefer to seek nutrition advice from professionals such as pharmacists, this
will boost the sales of such products from this channel, despite the usually higher prices.
Category Data
Table 8 Sales of Baby Food by Category: Volume 2018-2023
2018 2019 2020 2021 2022 2023
Baby Food (Not - - - - - -

calculable)
Dried Baby Food ('000 3.8 4.0 4.0 4.2 4.4 4.3
tonnes)
Prepared Baby Food 0.2 0.2 0.2 0.2 0.2 0.2
('000 tonnes)
Other Baby Food ('000 - - - - - -
tonnes)
Milk Formula (Not - - - - - -
calculable)
- Standard Milk Formula - - - - - -
(Not calculable)
-- Liquid Standard Milk - - - - - -
Formula (million litres)
-- Powder Standard Milk 0.3 0.3 0.3 0.3 0.3 0.3
Formula ('000 tonnes)
- Follow-on Milk - - - - - -
Formula (Not calculable)
-- Liquid Follow-on - - - - - -
Milk Formula (million
litres)
-- Powder Follow-on 0.1 0.1 0.1 0.1 0.1 0.1
Milk Formula ('000
tonnes)
- Growing-Up Milk - - - - - -
-- Liquid Growing-Up - - - - - -
litres)
-- Powder Growing-Up 0.1 0.1 0.1 0.1 0.1 0.1
Milk Formula ('000
tonnes)
- Special Baby Milk - - - - - -
-- Liquid Special Baby - - - - - -
litres)
-- Powder Special Baby - - - - - -
Milk Formula ('000
tonnes)
Table 9 Sales of Baby Food by Category: Value 2018-2023
GHS million
2018 2019 2020 2021 2022 2023
Baby Food 187.9 215.9 247.9 298.6 416.4 686.9

Dried Baby Food 114.0 132.2 157.2 199.5 299.9 478.2
Other Baby Food - - - - - -
Milk Formula 64.6 73.0 78.5 84.5 94.7 174.2
- Standard Milk Formula 42.7 48.3 52.0 56.0 61.3 113.5
Formula
Formula
- Follow-on Milk Formula 13.0 14.8 15.9 17.2 20.0 36.5
Milk Formula
-- Powder Follow-on 13.0 14.8 15.9 17.2 20.0 36.5
Milk Formula
- Growing-Up Milk Formula 8.9 9.9 10.5 11.3 13.4 24.3
Milk Formula
Milk Formula
Formula
Milk Formula
Milk Formula
Table 10 Sales of Baby Food by Category: % Volume Growth 2018-2023
2022/23 2018-23 CAGR 2018/23 Total
Baby Food (Not calculable) - - -

Dried Baby Food (% volume growth) -1.1 2.5 12.9
Prepared Baby Food (% volume growth) -2.8 0.7 3.5
Other Baby Food (% volume growth) - - -
Milk Formula (Not calculable) - - -

- Standard Milk Formula (Not calculable) - - -
-- Liquid Standard Milk Formula (% volume - - -
growth)
-- Powder Standard Milk Formula (% volume -1.9 -0.2 -1.0
growth)
- Follow-on Milk Formula (Not calculable) - - -
-- Liquid Follow-on Milk Formula (% volume - - -
growth)
-- Powder Follow-on Milk Formula (% volume -2.8 -0.3 -1.4
growth)
- Growing-Up Milk Formula (Not calculable) - - -
-- Liquid Growing-Up Milk Formula (% volume - - -
growth)
-- Powder Growing-Up Milk Formula (% volume -4.1 -1.5 -7.1
growth)
- Special Baby Milk Formula (Not calculable) - - -
-- Liquid Special Baby Milk Formula (% - - -
volume growth)
-- Powder Special Baby Milk Formula (% - - -
volume growth)
Table 11 Sales of Baby Food by Category: % Value Growth 2018-2023

2022/23 2018-23 CAGR 2018/23 Total
Baby Food 65.0 29.6 265.6

Dried Baby Food 59.4 33.2 319.5
Prepared Baby Food 58.0 30.1 272.8
Other Baby Food - - -
Milk Formula 84.0 21.9 169.5
- Standard Milk Formula 85.0 21.6 165.4
-- Liquid Standard Milk Formula - - -
-- Powder Standard Milk Formula 85.0 21.6 165.4
- Follow-on Milk Formula 82.5 22.9 180.1
-- Liquid Follow-on Milk Formula - - -
-- Powder Follow-on Milk Formula 82.5 22.9 180.1
- Growing-Up Milk Formula 81.8 22.3 173.8
-- Liquid Growing-Up Milk Formula - - -
-- Powder Growing-Up Milk Formula 81.8 22.3 173.8
- Special Baby Milk Formula - - -
-- Liquid Special Baby Milk Formula - - -
-- Powder Special Baby Milk Formula - - -
Table 12 NBO Company Shares of Baby Food: % Value 2019-2023
% retail value rsp

Company 2019 2020 2021 2022 2023
Nestlé Ghana Ltd 63.0 60.8 56.1 46.1 48.0

Tiger Brands Ltd 4.6 4.0 3.7 2.9 2.2
Wyeth Nutritional Inc 2.4 2.2 2.0 1.6 1.5

Nutricia Ltd 1.0 1.0 0.7 0.2 -
Others 16.9 18.6 24.4 36.8 35.4
Total 100.0 100.0 100.0 100.0 100.0
Table 13 LBN Brand Shares of Baby Food: % Value 2020-2023
% retail value rsp

Cerelac (Nestlé SA) Nestlé Ghana Ltd 33.7 32.5 28.0 29.0
Briella Yumvita Promasidor Ghana Ltd 13.4 13.1 12.5 13.0
(Promasidor (South
Africa) (Pty) Ltd)
Nan (Nestlé SA) Nestlé Ghana Ltd 12.7 11.3 9.1 10.0
Nido 1+ (Nestlé SA) Nestlé Ghana Ltd 5.7 5.1 4.1 4.5
Lactogen (Nestlé SA) Nestlé Ghana Ltd 6.3 5.7 4.5 4.0
Purity Tiger Brands Ltd 4.0 3.7 2.9 2.2
SMA (Nestlé SA) Wyeth Nutritional Inc 2.2 2.0 1.6 1.5
Nestum (Nestlé SA) Nestlé Ghana Ltd 2.4 1.5 0.4 0.5
Cow & Gate (Danone, Nutricia Ltd 1.0 0.7 0.2 -
Groupe)
Others Others 18.6 24.4 36.8 35.4
Total Total 100.0 100.0 100.0 100.0
Table 14 Forecast Sales of Baby Food by Category: Volume 2023-2028
2023 2024 2025 2026 2027 2028
Baby Food (Not - - - - - -

calculable)
Dried Baby Food ('000 4.3 4.4 4.6 4.8 5.0 5.2
tonnes)
('000 tonnes)
Other Baby Food ('000 - - - - - -
tonnes)
Milk Formula (Not - - - - - -
calculable)
- Standard Milk Formula - - - - - -
(Not calculable)
Formula (million litres)
Formula ('000 tonnes)
- Follow-on Milk - - - - - -
litres)
-- Powder Follow-on 0.1 0.1 0.1 0.1 0.1 0.1
Milk Formula ('000
tonnes)
- Growing-Up Milk - - - - - -
litres)
Milk Formula ('000
tonnes)
litres)
Milk Formula ('000
tonnes)
trade sources
Table 15 Forecast Sales of Baby Food by Category: Value 2023-2028
GHS million
2023 2024 2025 2026 2027 2028
Baby Food 686.9 659.6 656.8 669.8 691.1 719.0

Dried Baby Food 478.2 451.8 444.5 449.4 460.3 477.1
Other Baby Food - - - - - -
Milk Formula 174.2 176.8 182.5 190.5 199.5 208.6
- Standard Milk Formula 113.5 115.7 120.2 126.1 132.6 138.9
Formula
Formula
- Follow-on Milk Formula 36.5 37.1 38.5 40.4 42.5 44.8
Milk Formula
-- Powder Follow-on 36.5 37.1 38.5 40.4 42.5 44.8
Milk Formula
- Growing-Up Milk Formula 24.3 23.9 23.9 24.1 24.4 24.9
Milk Formula
Milk Formula
Formula
Milk Formula
Milk Formula
trade sources
Table 16 Forecast Sales of Baby Food by Category: % Volume Growth 2023-2028
2023/24 2023-28 CAGR 2023/28 Total
Baby Food (Not calculable) - - -

Dried Baby Food (% volume growth) 1.6 3.7 20.0
Prepared Baby Food (% volume growth) 1.1 5.6 31.2
Other Baby Food (% volume growth) - - -
Milk Formula (Not calculable) - - -
- Standard Milk Formula (Not calculable) - - -
-- Liquid Standard Milk Formula (% volume - - -
growth)
-- Powder Standard Milk Formula (% volume 0.0 2.6 13.7
growth)
- Follow-on Milk Formula (Not calculable) - - -
-- Liquid Follow-on Milk Formula (% volume - - -
growth)
-- Powder Follow-on Milk Formula (% volume -0.2 2.8 14.8
growth)
- Growing-Up Milk Formula (Not calculable) - - -
-- Liquid Growing-Up Milk Formula (% volume - - -
growth)
-- Powder Growing-Up Milk Formula (% volume -3.7 -1.3 -6.4
growth)
- Special Baby Milk Formula (Not calculable) - - -
-- Liquid Special Baby Milk Formula (% - - -
volume growth)
-- Powder Special Baby Milk Formula (% - - -
volume growth)
trade sources
Table 17 Forecast Sales of Baby Food by Category: % Value Growth 2023-2028

2023/2024 2023-28 CAGR 2023/28 Total
Baby Food -4.0 0.9 4.7

Dried Baby Food -5.5 0.0 -0.2
Prepared Baby Food -10.0 -0.7 -3.5
Other Baby Food - - -
Milk Formula 1.5 3.7 19.7
- Standard Milk Formula 2.0 4.1 22.4
-- Liquid Standard Milk Formula - - -
-- Powder Standard Milk Formula 2.0 4.1 22.4
- Follow-on Milk Formula 1.6 4.2 22.7
-- Liquid Follow-on Milk Formula - - -
-- Powder Follow-on Milk Formula 1.6 4.2 22.7
- Growing-Up Milk Formula -1.4 0.5 2.6
-- Liquid Growing-Up Milk Formula - - -
-- Powder Growing-Up Milk Formula -1.4 0.5 2.6
- Special Baby Milk Formula - - -
-- Liquid Special Baby Milk Formula - - -
-- Powder Special Baby Milk Formula - - -
trade sources
DAIRY
2023 Developments
▪ Ghana’s dairy market is mainly accounted for by condensed milk and powder milk. The main
drivers of demand are school children, street food vendors (tea and porridge sellers), and
those consumers who use it for breakfast either at home or on the move.
▪ Powder milk sales are influenced by school children, and In 2023, sales are strong as more
consumers are opting for powder milk over evaporated milk. This was particularly noticeable
among lower- and middle-income consumers due to the lower cost of powdered milk. This
trend is set to continue in the coming years, fuelled by affordability and the consumption
habits of school children.
▪ Shelf stable milk is highly reliant on imports. In 2023, sales have not reached the expected
levels due to higher unit prices. Additionally, many Ghanaians do not prefer shelf stable milk
as it is not very convenient. Looking ahead, if prices become more reasonable, the market
could expand, especially among the middle-and upper-classes who can afford it.
▪ Sales of evaporated milk continue to soar, with numerous new players entering the
competitive landscape and existing brands expanding their presence. This landscape is
primarily led by local brands, with Nestlé holding a significant position. Despite price
increases, the competition within this sector remains robust, which sustains its
competitiveness. The forecast period holds growth potential, although it will largely hinge on
pricing dynamics.
▪ Demand for dairy drinkables, especially drinking yoghurt is on the rise. Previously when it
came to dairy in Ghana it has been largely limited to condensed milk and powder milk, but
there are now a growing number of ready-to-drink dairy products on the market, especially
drinking yoghurt and flavoured milk drinks. As people have become more health-conscious
and aware of the health benefits of yoghurt, consumption has increased significantly. Many
people have replaced fizzy drinks, which are perceived as unhealthy, with flavoured yoghurt
and flavoured milk drinks. Local production of yoghurt is on the increase, including probiotic,
plain, and skimmed yoghurt, while production of flavoured milk drinks has also increased. For
example, Fan Milk Ghana recently introduced Fan Maxx Apple and Watermelon Flavour
Skimmed Yoghurt Drinks. The company also offers two other skimmed yoghurt brands
through modern grocery retailers: Yaourt Nature Plain Skimmed Yoghurt and Yaourt Vanilla
Yoghurt. Brands are also introducing a growing range of flavours within flavoured milk drinks
through modern grocery retailers, such as Joy Dairy (strawberry, chocolate, banana, vanilla)
and Mulik Full Cream Milk (vanilla, chocolate, banana).
▪ In 2023, new launches include plain condensed milk by Pura Vida, Dano Evaporated Milk,
Momo Evaporated Milk, and Unity Plus Evaporated Milk, catering to diverse preferences.
▪ In general, plant-based milk alternatives are becoming increasingly popular, especially in
modern grocery retailers. Demand for soy drinks has seen particularly strong growth
according to industry players. Vitamilk Soy remains the most popular brand of milk
alternatives in Ghana, but other plant-based milk such as coconut and almond are also
becoming more popular. Equally, other milk alternatives such as non-dairy creamers have
also seen growing demand. These products are in demand because consumers are
becoming increasingly health conscious, while others have become aware of allergies such
as lactose intolerance. Store checks reveal some new brands such as Good Hope Soy Milk
(Chocolate & Strawberry) from Clover and Koko Dairy Free Coconut Milk (KokoDairyfree).
Vita Milk also launched its Vita Milk Strawberry flavour in March 2020.
▪ Condensed milk remains popular in Ghana, despite some concerns about it being an
unhealthy product. With demand remaining largely stable new brands of condensed milk
continue to be seen on the market.
▪ For example, a range of new brands appeared in modern grocery retailers such the Melcom
and Spar chains at the end of the review period, including Festival Evaporated Milk (Product
of Malaysia), Pura Vida (Gloria SA), and Nutridor Abevia (Nutridor). There was also a growing
presence of Cindy Evaporated Milk in some modern grocery retailers.

▪ Over the forecast period, dairy products will continue to perform well, as they are a popular
product in Ghana, used by many across all socioeconomic groups. The health and wellness
increase following the COVID-19 pandemic will continue to positively impact the category, as
more consumers switch from carbonated drinks to yoghurt drinks and other dairy drinks,
which will encourage producers to focus on innovations. Meanwhile, innovations are also set
to focus on plant-based dairy products.
▪ Yoghurt is seen to have the potential to be one of the fastest-growing dairy categories in
Ghana over the forecast period. This is based on the growing number of brands appearing in
modern grocery retailers and in open markets. Most of these brands are locally produced and
are packaged in plastic bottles and jars. The increased demand is being driven by growing
health consciousness and increased knowledge about the health benefits of yoghurt. Local
yoghurt companies are also innovating with different flavours and some have now added
cereals such as wheat and oats to their drinking yoghurt products to make them into more of a
meal. There are more than eight local brands of yoghurt available through modern grocery
retailers in Ghana, with popular brands including Zenos, Dolait, One YoGo, Nanee, Yomi, and
Zee yoghurt. Fan Milk Ghana also offers a line of drinking yoghurt under its Fan Maxx brand
which comes in four flavours: Apple, Watermelon, Strawberry, and Vanilla.
▪ There is also growth potential within flavoured milk, driven by new product introductions, as
an increasing number of consumers develop a liking for flavoured milk. Nonetheless, the
primary constraint remains the price factor, given that brands like Country Milk and Incolac
have experienced substantial price hikes.
▪ There is seen to be more opportunity to expand the market for health-based dairy products
over the forecast period, such as affordable low-cholesterol condensed milk and powder milk.
Nevertheless, there is opportunity for companies with existing high cholesterol milk to
preserve their market share by either reducing their prices, breaking bulk packs into smaller
pack sizes, or launching low cholesterol milk brands to meet with the shifting consumer
preferences.
▪ UHT milk is gaining favour with consumers, with this providing an opportunity for companies
who have seen demand for their traditional dairy products slowly evaporate. Based on insight
from trade interviews, UHT milk is cheaper compared to condensed milk by volume and it also
allows consumers to select from a wider range of options, such as skimmed, semi-skimmed,
whole milk, and full cream. Also, the quality of UHT milk has improved with it now having a
longer shelf life. Modern grocery retailers have also been stocking more imported UHT milk
brands to cater to demand, with semi-skimmed and skimmed UHT milk proving particularly
popular due to its lower fat content.
Category Data
Table 18 Sales of Dairy by Category: Volume 2018-2023
2018 2019 2020 2021 2022 2023
Dairy (Not calculable) - - - - - -
Butter and Spreads 32.5 34.1 33.7 34.1 34.8 34.4

('000 tonnes)
- Butter ('000 tonnes) 0.2 0.2 0.2 0.2 0.2 0.2
- Cooking Fats ('000 - - - - - -
tonnes)
- Margarine and Spreads 32.2 33.9 33.5 33.8 34.6 34.2
('000 tonnes)
Cheese ('000 tonnes) 0.0 0.0 0.0 0.0 0.0 0.0
- Spreadable Cheese 0.0 0.0 0.0 0.0 0.0 0.0
('000 tonnes)
- Processed Cheese excl 0.0 0.0 0.0 0.0 0.0 0.0
Spreadable ('000 tonnes)
- Hard Cheese ('000 - - - - - -
tonnes)
-- Packaged Hard Cheese - - - - - -
('000 tonnes)
-- Unpackaged Hard - - - - - -
Cheese ('000 tonnes)
- Soft Cheese ('000 - - - - - -
tonnes)
Drinking Milk Products - - - - - -
(Not calculable)
- Flavoured Milk Drinks 19.0 20.4 20.2 21.4 20.7 19.1
(million litres)
-- Dairy Only Flavoured 19.0 20.4 20.2 21.4 20.7 19.1
Milk Drinks (million
litres)
-- Flavoured Milk - - - - - -
Drinks with Fruit Juice
(million litres)
- Milk (million litres) 14.7 14.9 15.7 16.3 16.6 16.8
-- Cow's Milk (million 14.7 14.9 15.7 16.3 16.6 16.8
litres)
-- Goat Milk (million - - - - - -
litres)
- Powder Milk ('000 14.8 15.2 16.0 16.5 17.3 16.9
tonnes)
Yoghurt and Sour Milk - - - - - -
Products (Not calculable)
- Sour Milk Products - - - - - -
(million litres)
- Yoghurt (Not - - - - - -
calculable)
-- Drinking Yoghurt 5.3 5.5 5.4 5.5 5.4 5.5
(million litres)
-- Flavoured Yoghurt 4.2 4.4 4.4 4.5 4.7 4.9
('000 tonnes)
-- Plain Yoghurt ('000 0.3 0.3 0.3 0.3 0.3 0.3
tonnes)
Other Dairy (Not - - - - - -
calculable)
- Chilled and Shelf - - - - - -
Stable Desserts ('000
tonnes)
-- Chilled Dairy - - - - - -
Desserts ('000 tonnes)
-- Shelf Stable Dairy - - - - - -
- Chilled Snacks ('000 - - - - - -
tonnes)
- Coffee Whiteners - - - - - -
('000 tonnes)
- Condensed and 101.1 108.2 107.6 113.9 111.0 103.0
Evaporated Milk
(million litres)
-- Condensed Milk 8.4 8.6 9.1 9.5 9.9 9.7
(million litres)
-- Evaporated Milk 92.8 99.5 98.5 104.4 101.1 93.3
(million litres)
- Cream ('000 tonnes) - - - - - -
- Fromage Frais and - - - - - -
Quark ('000 tonnes)
-- Flavoured Fromage - - - - - -
Frais and Quark ('000
tonnes)
-- Plain Fromage Frais - - - - - -
and Quark ('000 tonnes)
-- Savoury Fromage - - - - - -
tonnes)
Table 19 Sales of Dairy by Category: Value 2018-2023
GHS million
2018 2019 2020 2021 2022 2023
Dairy 3,402.5 3,999.9 4,713.9 5,358.1 7,599.3 12,247.9

Butter and Spreads 502.5 594.4 635.5 703.2 866.0 1,354.3
- Butter 18.0 21.7 24.9 26.2 31.4 46.5
- Cooking Fats - - - - - -
- Margarine and Spreads 484.5 572.6 610.7 677.0 834.7 1,307.8
Cheese 6.8 7.9 8.9 10.5 14.9 24.9
Spreadable
- Hard Cheese - - - - - -
-- Unpackaged Hard Cheese - - - - - -
- Soft Cheese - - - - - -
Drinking Milk Products 1,103.3 1,298.4 1,533.6 1,769.1 2,666.4 4,554.3
Milk Drinks
- Milk 199.9 229.4 274.9 319.3 419.2 743.0
-- Cow's Milk 199.9 229.4 274.9 319.3 419.2 743.0
-- Goat Milk - - - - - -
- Powder Milk 631.9 739.9 886.7 1,011.9 1,604.7 2,822.0
Yoghurt and Sour Milk 207.5 238.0 263.2 298.4 410.6 613.3
Products
- Yoghurt 207.5 238.0 263.2 298.4 410.6 613.3
-- Plain Yoghurt 5.1 6.0 6.4 7.3 10.2 15.2
Other Dairy 1,582.3 1,861.2 2,272.6 2,576.8 3,641.4 5,701.0
Stable Desserts
-- Chilled Dairy Desserts - - - - - -
Desserts
- Chilled Snacks - - - - - -
- Condensed and 1,582.3 1,861.2 2,272.6 2,576.8 3,641.4 5,701.0
Evaporated Milk
-- Condensed Milk 174.9 195.9 229.6 267.0 381.8 571.0
-- Evaporated Milk 1,407.4 1,665.4 2,043.0 2,309.8 3,259.7 5,130.0
- Cream - - - - - -
- Fromage Frais and Quark - - - - - -
Frais and Quark
and Quark
Frais and Quark
Table 20 Sales of Dairy by Category: % Volume Growth 2018-2023
2022/23 2018-23 CAGR 2018/23 Total
Dairy (Not calculable) - - -

Butter and Spreads (% volume growth) -1.1 1.2 5.9
- Butter (% volume growth) -9.6 -2.6 -12.2
- Cooking Fats (% volume growth) - - -
- Margarine and Spreads (% volume growth) -1.1 1.2 6.1
Cheese (% volume growth) 1.8 1.6 8.0
- Spreadable Cheese (% volume growth) 2.6 2.3 11.8
- Processed Cheese excl Spreadable (% volume -2.3 -2.0 -9.7
growth)
- Hard Cheese (% volume growth) - - -
-- Packaged Hard Cheese (% volume growth) - - -
-- Unpackaged Hard Cheese (% volume growth) - - -
- Soft Cheese (% volume growth) - - -
Drinking Milk Products (Not calculable) - - -
- Flavoured Milk Drinks (% volume growth) -7.7 0.1 0.6
-- Dairy Only Flavoured Milk Drinks (% -7.7 0.1 0.6
volume growth)
-- Flavoured Milk Drinks with Fruit Juice (% - - -
volume growth)
- Milk (% volume growth) 1.0 2.6 13.7
-- Cow's Milk (% volume growth) 1.0 2.6 13.7
-- Goat Milk (% volume growth) - - -
- Powder Milk (% volume growth) -2.1 2.7 14.2
Yoghurt and Sour Milk Products (Not - - -
calculable)
- Sour Milk Products (% volume growth) - - -
- Yoghurt (Not calculable) - - -
-- Drinking Yoghurt (% volume growth) 1.8 0.8 4.1
-- Flavoured Yoghurt (% volume growth) 3.0 2.9 15.2
-- Plain Yoghurt (% volume growth) 0.6 1.4 7.3
Other Dairy (Not calculable) - - -
- Chilled and Shelf Stable Desserts (% - - -
volume growth)
-- Chilled Dairy Desserts (% volume growth) - - -
-- Shelf Stable Dairy Desserts (% volume - - -

growth)
- Chilled Snacks (% volume growth) - - -
- Coffee Whiteners (% volume growth) - - -
- Condensed and Evaporated Milk (% volume -7.2 0.4 1.8
growth)
-- Condensed Milk (% volume growth) -2.1 2.9 15.3
-- Evaporated Milk (% volume growth) -7.7 0.1 0.6
- Cream (% volume growth) - - -
- Fromage Frais and Quark (% volume growth) - - -
-- Flavoured Fromage Frais and Quark (% - - -
volume growth)
-- Plain Fromage Frais and Quark (% volume - - -
growth)
-- Savoury Fromage Frais and Quark (% volume - - -
growth)
Table 21 Sales of Dairy by Category: % Value Growth 2018-2023

2022/23 2018-23 CAGR 2018/23 Total
Dairy 61.2 29.2 260.0

Butter and Spreads 56.4 21.9 169.5
- Butter 48.3 20.9 158.0
- Cooking Fats - - -
- Margarine and Spreads 56.7 22.0 169.9
Cheese 67.3 29.6 265.2
- Spreadable Cheese 68.2 31.0 285.5
- Processed Cheese excl Spreadable 59.3 19.3 141.7
- Hard Cheese - - -
-- Packaged Hard Cheese - - -
-- Unpackaged Hard Cheese - - -
- Soft Cheese - - -
Drinking Milk Products 70.8 32.8 312.8
- Flavoured Milk Drinks 54.0 29.5 264.5
-- Dairy Only Flavoured Milk Drinks 54.0 29.5 264.5
-- Flavoured Milk Drinks with Fruit Juice - - -
- Milk 77.3 30.0 271.7
-- Cow's Milk 77.3 30.0 271.7
-- Goat Milk - - -
- Powder Milk 75.9 34.9 346.6
Yoghurt and Sour Milk Products 49.4 24.2 195.5
- Sour Milk Products - - -
- Yoghurt 49.4 24.2 195.5
-- Drinking Yoghurt 48.2 22.5 175.8
-- Flavoured Yoghurt 50.8 26.4 222.4
-- Plain Yoghurt 49.3 24.5 199.7
Other Dairy 56.6 29.2 260.3
- Chilled and Shelf Stable Desserts - - -
-- Chilled Dairy Desserts - - -
-- Shelf Stable Dairy Desserts - - -
- Chilled Snacks - - -
- Coffee Whiteners - - -
- Condensed and Evaporated Milk 56.6 29.2 260.3
-- Condensed Milk 49.6 26.7 226.5
-- Evaporated Milk 57.4 29.5 264.5
- Cream - - -
- Fromage Frais and Quark - - -
-- Flavoured Fromage Frais and Quark - - -
-- Plain Fromage Frais and Quark - - -
-- Savoury Fromage Frais and Quark - - -
Table 22 NBO Company Shares of Dairy: % Value 2019-2023
% retail value rsp

Company 2019 2020 2021 2022 2023
Nestlé Ghana Ltd 42.3 43.8 43.7 42.3 41.5

Royal FrieslandCampina NV 5.4 5.5 5.6 5.9 6.4
Calidad Pascual SAU 2.4 2.2 2.2 2.2 2.0
Upfield Foods Ghana Ltd 2.4 2.1 2.0 1.8 1.3
Fan Milk Plc 1.3 1.2 1.2 1.1 1.2
Arla Foods BV 1.3 1.3 1.3 1.0 1.0
Atona Foods Co Ltd 0.4 0.4 0.4 0.3 0.3
Unilever Ghana Ltd - - - - -
Others 30.4 29.5 29.5 29.9 29.9
Total 100.0 100.0 100.0 100.0 100.0
Table 23 LBN Brand Shares of Dairy: % Value 2020-2023
% retail value rsp

Ideal (Nestlé SA) Nestlé Ghana Ltd 21.7 21.6 20.0 19.0
Carnation (Nestlé SA) Nestlé Ghana Ltd 19.3 19.2 19.2 19.0
Cowbell (Promasidor Promasidor Ghana Ltd 13.9 14.1 15.4 16.3
(South Africa) (Pty)
Ltd)
Peak Royal FrieslandCampina NV 5.5 5.6 5.9 6.4
Nido (Nestlé SA) Nestlé Ghana Ltd 2.8 2.8 3.2 3.5
Pascual Calidad Pascual SAU 2.2 2.2 2.2 2.0
Blue Band (Upfield Upfield Foods Ghana Ltd 2.1 2.0 1.8 1.3
Holdings BV)
FanMaxx (Danone, Fan Milk Plc 1.2 1.2 1.1 1.2
Groupe)
Dano (Arla Foods Amba) Arla Foods BV 1.3 1.3 1.0 1.0
Atona Atona Foods Co Ltd 0.4 0.4 0.3 0.3
Blue Band (Unilever Unilever Ghana Ltd - - - -
Group)
Others Others 29.5 29.5 29.9 29.9
Total Total 100.0 100.0 100.0 100.0
Table 24 Forecast Sales of Dairy by Category: Volume 2023-2028
2023 2024 2025 2026 2027 2028
Dairy (Not calculable) - - - - - -

Butter and Spreads 34.4 33.5 32.9 32.7 32.5 32.7
('000 tonnes)
- Butter ('000 tonnes) 0.2 0.2 0.2 0.2 0.1 0.1
- Cooking Fats ('000 - - - - - -
tonnes)
- Margarine and Spreads 34.2 33.3 32.7 32.5 32.4 32.5
('000 tonnes)
Cheese ('000 tonnes) 0.0 0.0 0.0 0.0 0.0 0.1
('000 tonnes)
Spreadable ('000 tonnes)
- Hard Cheese ('000 - - - - - -
tonnes)
('000 tonnes)
-- Unpackaged Hard - - - - - -
Cheese ('000 tonnes)
- Soft Cheese ('000 - - - - - -
tonnes)
Drinking Milk Products - - - - - -
(Not calculable)
(million litres)
Milk Drinks (million
litres)
(million litres)
- Milk (million litres) 16.8 16.9 17.0 17.0 17.0 17.0
-- Cow's Milk (million 16.8 16.9 17.0 17.0 17.0 17.0
litres)
-- Goat Milk (million - - - - - -
litres)
- Powder Milk ('000 16.9 16.2 15.5 14.9 14.5 14.2
tonnes)
Yoghurt and Sour Milk - - - - - -
Products (Not calculable)
(million litres)
- Yoghurt (Not - - - - - -
calculable)
(million litres)
('000 tonnes)
-- Plain Yoghurt ('000 0.3 0.3 0.3 0.3 0.3 0.3
tonnes)
Other Dairy (Not - - - - - -
calculable)
Stable Desserts ('000
tonnes)
-- Chilled Dairy - - - - - -
- Chilled Snacks ('000 - - - - - -

tonnes)
('000 tonnes)
- Condensed and 103.0 103.9 107.8 113.6 121.0 129.2
Evaporated Milk
(million litres)
-- Condensed Milk 9.7 9.8 10.2 10.6 10.9 11.2
(million litres)
-- Evaporated Milk 93.3 94.1 97.6 103.0 110.0 118.0
(million litres)
- Cream ('000 tonnes) - - - - - -
- Fromage Frais and - - - - - -
Quark ('000 tonnes)
tonnes)
and Quark ('000 tonnes)
tonnes)
trade sources
Table 25 Forecast Sales of Dairy by Category: Value 2023-2028
GHS million
2023 2024 2025 2026 2027 2028
Dairy 12,247.9 12,254.1 11,788.8 11,811.5 12,344.5 12,940.3

Butter and Spreads 1,354.3 1,434.2 1,552.3 1,555.5 1,557.5 1,565.0
- Butter 46.5 39.3 34.8 32.3 29.7 28.2
- Cooking Fats - - - - - -
- Margarine and Spreads 1,307.8 1,394.9 1,517.5 1,523.2 1,527.8 1,536.8
Cheese 24.9 24.0 23.5 23.5 24.1 25.4
Spreadable
- Hard Cheese - - - - - -
-- Unpackaged Hard Cheese - - - - - -
- Soft Cheese - - - - - -
Drinking Milk Products 4,554.3 3,975.1 3,908.4 3,940.5 3,987.3 4,046.0
- Flavoured Milk Drinks 989.3 888.2 875.4 951.6 1,036.8 1,128.7
-- Dairy Only Flavoured 989.3 888.2 875.4 951.6 1,036.8 1,128.7
Milk Drinks
- Milk 743.0 772.2 787.1 799.0 807.0 812.2
-- Cow's Milk 743.0 772.2 787.1 799.0 807.0 812.2
-- Goat Milk - - - - - -
- Powder Milk 2,822.0 2,314.8 2,245.9 2,189.9 2,143.5 2,105.0
Yoghurt and Sour Milk 613.3 635.1 664.7 706.9 747.1 783.5
Products
- Yoghurt 613.3 635.1 664.7 706.9 747.1 783.5
-- Plain Yoghurt 15.2 15.9 16.6 17.1 17.6 17.9

Other Dairy 5,701.0 6,185.6 5,639.9 5,585.0 6,028.6 6,520.3
Stable Desserts
-- Chilled Dairy Desserts - - - - - -
Desserts
- Chilled Snacks - - - - - -
- Condensed and 5,701.0 6,185.6 5,639.9 5,585.0 6,028.6 6,520.3
Evaporated Milk
-- Condensed Milk 571.0 599.6 624.7 641.6 655.1 665.9
-- Evaporated Milk 5,130.0 5,586.1 5,015.2 4,943.4 5,373.5 5,854.5
- Cream - - - - - -
- Fromage Frais and Quark - - - - - -
Frais and Quark
and Quark
Frais and Quark
trade sources
Table 26 Forecast Sales of Dairy by Category: % Volume Growth 2023-2028
2023/24 2023-28 CAGR 2023/28 Total
Dairy (Not calculable) - - -

Butter and Spreads (% volume growth) -2.5 -1.0 -5.0
- Butter (% volume growth) -11.0 -8.5 -36.0
- Cooking Fats (% volume growth) - - -
- Margarine and Spreads (% volume growth) -2.5 -1.0 -4.8
Cheese (% volume growth) 1.6 2.6 13.7
- Spreadable Cheese (% volume growth) 2.1 2.8 15.0
- Processed Cheese excl Spreadable (% volume -0.9 1.2 6.1
growth)
- Hard Cheese (% volume growth) - - -
-- Packaged Hard Cheese (% volume growth) - - -
-- Unpackaged Hard Cheese (% volume growth) - - -
- Soft Cheese (% volume growth) - - -
Drinking Milk Products (Not calculable) - - -
- Flavoured Milk Drinks (% volume growth) 0.9 4.8 26.5
-- Dairy Only Flavoured Milk Drinks (% 0.9 4.8 26.5
volume growth)
-- Flavoured Milk Drinks with Fruit Juice (% - - -
volume growth)
- Milk (% volume growth) 0.8 0.3 1.5
-- Cow's Milk (% volume growth) 0.8 0.3 1.5
-- Goat Milk (% volume growth) - - -
- Powder Milk (% volume growth) -4.3 -3.4 -16.0
Yoghurt and Sour Milk Products (Not - - -
calculable)
- Sour Milk Products (% volume growth) - - -
- Yoghurt (Not calculable) - - -
-- Drinking Yoghurt (% volume growth) 3.5 4.2 22.6
-- Flavoured Yoghurt (% volume growth) 2.9 4.1 22.0
-- Plain Yoghurt (% volume growth) 1.4 2.9 15.3
Other Dairy (Not calculable) - - -
- Chilled and Shelf Stable Desserts (% - - -

volume growth)
-- Chilled Dairy Desserts (% volume growth) - - -
-- Shelf Stable Dairy Desserts (% volume - - -
growth)
- Chilled Snacks (% volume growth) - - -
- Coffee Whiteners (% volume growth) - - -
- Condensed and Evaporated Milk (% volume 0.9 4.6 25.5
growth)
-- Condensed Milk (% volume growth) 1.7 3.0 16.1
-- Evaporated Milk (% volume growth) 0.9 4.8 26.5
- Cream (% volume growth) - - -
- Fromage Frais and Quark (% volume growth) - - -
-- Flavoured Fromage Frais and Quark (% - - -
volume growth)
-- Plain Fromage Frais and Quark (% volume - - -
growth)
-- Savoury Fromage Frais and Quark (% volume - - -
growth)
trade sources
Table 27 Forecast Sales of Dairy by Category: % Value Growth 2023-2028

2023/2024 2023-28 CAGR 2023/28 Total
Dairy 0.1 1.1 5.7

Butter and Spreads 5.9 2.9 15.6
- Butter -15.5 -9.5 -39.4
- Cooking Fats - - -
- Margarine and Spreads 6.7 3.3 17.5
Cheese -3.7 0.4 1.8
- Spreadable Cheese -5.1 0.2 1.1
- Processed Cheese excl Spreadable 10.0 1.6 8.2
- Hard Cheese - - -
-- Packaged Hard Cheese - - -
-- Unpackaged Hard Cheese - - -
- Soft Cheese - - -
Drinking Milk Products -12.7 -2.3 -11.2
- Flavoured Milk Drinks -10.2 2.7 14.1
-- Dairy Only Flavoured Milk Drinks -10.2 2.7 14.1
-- Flavoured Milk Drinks with Fruit Juice - - -
- Milk 3.9 1.8 9.3
-- Cow's Milk 3.9 1.8 9.3
-- Goat Milk - - -
- Powder Milk -18.0 -5.7 -25.4
Yoghurt and Sour Milk Products 3.6 5.0 27.8
- Sour Milk Products - - -
- Yoghurt 3.6 5.0 27.8
-- Drinking Yoghurt 5.8 5.7 31.7
-- Flavoured Yoghurt 0.9 4.3 23.6
-- Plain Yoghurt 4.6 3.3 17.7
Other Dairy 8.5 2.7 14.4
- Chilled and Shelf Stable Desserts - - -
-- Chilled Dairy Desserts - - -
-- Shelf Stable Dairy Desserts - - -
- Chilled Snacks - - -
- Coffee Whiteners - - -
- Condensed and Evaporated Milk 8.5 2.7 14.4

-- Condensed Milk 5.0 3.1 16.6
-- Evaporated Milk 8.9 2.7 14.1
- Cream - - -
- Fromage Frais and Quark - - -
-- Flavoured Fromage Frais and Quark - - -
-- Plain Fromage Frais and Quark - - -
-- Savoury Fromage Frais and Quark - - -
trade sources
PLANT-BASED DAIRY
2023 Developments
▪ There is no significant presence for plant-based dairy, with these products lacking a
significant distribution presence, even in major cities. There are no clear leaders in terms of
brands or players, while consumer awareness of plant-based dairy remains low.
▪ Vitamilk Ghana is a soy drink brand that is imported from Thailand. It has an active Facebook
page that includes the promotion of different flavours, some small competitions, and
information about the product and company. It is largely sold through informal channels and
foodservice outlets such as restaurants, bars, and street vendors.
▪ In April 2023, the Council for Scientific and Industrial Research – Food Research Institute
(CSIR) introduced a fresh millet-based variant of the pasteurised milk drink, called Burkina.
This new variation, named Agbenu, blends millet and soy milk, rich in nutrients, and purports
to enhance gut health. In Ghana, the cost of producing soy milk is lower than that of cow's
milk, positioning this product as a competitive contender against both soy drinks and cow's
milk due to its affordability.

▪ It is unlikely that plant-based dairy will gain a significant presence in the forecast period.
These products would require heavy marketing investment and accessible prices to
encourage trial purchases. However, with consumer awareness and interest remaining
negligible, it is unlikely that players or retailers would be willing to invest in building consumer
interest in plant-based dairy.
Category Data
Table 28 Sales of Plant-Based Dairy by Category: Value 2018-2023
GHS million
2018 2019 2020 2021 2022 2023

Plant-based Milk 99.3 116.3 137.6 160.3 192.2 349.5
- Soy Drinks 99.3 116.3 137.6 160.3 192.2 349.5
- Other Plant-based Milk - - - - - -
Plant-based Yoghurt - - - - - -
Plant-based Cheese - - - - - -
Table 29 Sales of Plant-Based Dairy by Category: % Value Growth 2018-2023

2022/23 2018-23 CAGR 2018/23 Total

Plant-based Milk 81.8 28.6 251.9
- Soy Drinks 81.8 28.6 251.9
- Other Plant-based Milk - - -
Plant-based Yoghurt - - -
Plant-based Cheese - - -
Table 30 Forecast Sales of Plant-Based Dairy by Category: Value 2023-2028
GHS million
2023 2024 2025 2026 2027 2028

Plant-based Milk 349.5 359.0 377.1 399.5 425.4 453.5
- Soy Drinks 349.5 359.0 377.1 399.5 425.4 453.5
- Other Plant-based Milk - - - - - -
Plant-based Yoghurt - - - - - -
Plant-based Cheese - - - - - -
trade sources
Table 31 Forecast Sales of Plant-Based Dairy by Category: % Value Growth 2023-2028

2023/2024 2023-28 CAGR 2023/28 Total

Plant-based Milk 2.7 5.3 29.7
- Soy Drinks 2.7 5.3 29.7
- Other Plant-based Milk - - -
Plant-based Yoghurt - - -
Plant-based Cheese - - -
trade sources

Dairy Products and Alternatives in Ghana

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Dairy Products and Alternatives in Ghana

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Dairy Products and Alternatives

LIST OF CONTENTS AND TABLES

Table 22 NBO Company Shares of Dairy: % Value 2019-2023 ................................ 24

DAIRY PRODUCTS AND

Dairy Products And Alternatives In 2023: The Big Picture

prioritised as spending comes under pressure. However, as increasing numbers of

What Next For Dairy Products And Alternatives?

Baby Food 187.9 215.9 247.9 298.6 416.4 686.9

% current value growth

Baby Food 65.0 29.6 265.6

% retail value rsp

Nestlé Ghana Ltd 42.2 43.4 43.1 41.5 40.7

Arla Foods BV 1.2 1.2 1.2 0.9 1.0

% retail value rsp

Table 5 Distribution of Dairy Products and Alternatives by Format: % Value 2018-2023

% retail value rsp

2018 2019 2020 2021 2022 2023

Retail Channels 100.0 100.0 100.0 100.0 100.0 100.0

Baby Food 686.9 659.6 656.8 669.8 691.1 719.0

% constant value growth

Baby Food -4.0 0.9 4.7

Prospects And Opportunities

Table 8 Sales of Baby Food by Category: Volume 2018-2023

2018 2019 2020 2021 2022 2023

Baby Food (Not - - - - - -

Table 9 Sales of Baby Food by Category: Value 2018-2023

Baby Food 187.9 215.9 247.9 298.6 416.4 686.9

Table 10 Sales of Baby Food by Category: % Volume Growth 2018-2023

2022/23 2018-23 CAGR 2018/23 Total

Baby Food (Not calculable) - - -

Milk Formula (Not calculable) - - -

Table 11 Sales of Baby Food by Category: % Value Growth 2018-2023

% current value growth

Baby Food 65.0 29.6 265.6

Table 12 NBO Company Shares of Baby Food: % Value 2019-2023

% retail value rsp

Nestlé Ghana Ltd 63.0 60.8 56.1 46.1 48.0

Wyeth Nutritional Inc 2.4 2.2 2.0 1.6 1.5

Table 13 LBN Brand Shares of Baby Food: % Value 2020-2023

% retail value rsp

Table 14 Forecast Sales of Baby Food by Category: Volume 2023-2028

2023 2024 2025 2026 2027 2028

Baby Food (Not - - - - - -

Table 15 Forecast Sales of Baby Food by Category: Value 2023-2028

Baby Food 686.9 659.6 656.8 669.8 691.1 719.0

Table 16 Forecast Sales of Baby Food by Category: % Volume Growth 2023-2028

2023/24 2023-28 CAGR 2023/28 Total

Baby Food (Not calculable) - - -

Table 17 Forecast Sales of Baby Food by Category: % Value Growth 2023-2028

% constant value growth

Baby Food -4.0 0.9 4.7

Prospects And Opportunities

Table 18 Sales of Dairy by Category: Volume 2018-2023

2018 2019 2020 2021 2022 2023

Dairy (Not calculable) - - - - - -

Butter and Spreads 32.5 34.1 33.7 34.1 34.8 34.4

Table 19 Sales of Dairy by Category: Value 2018-2023

Dairy 3,402.5 3,999.9 4,713.9 5,358.1 7,599.3 12,247.9

Table 20 Sales of Dairy by Category: % Volume Growth 2018-2023

2022/23 2018-23 CAGR 2018/23 Total

Dairy (Not calculable) - - -

-- Shelf Stable Dairy Desserts (% volume - - -

Table 21 Sales of Dairy by Category: % Value Growth 2018-2023

% current value growth