Market Forecast By Product (Biscuits, Crackers), By Applications (Online, Supermarket, Food Store) And Competitive Landscape
Product Code: ETC023476 | Publication Date: Jun 2023 | Updated Date: Jan 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Report Name | Ghana Biscuits and Crackers Market |
Forecast period | 2025-2031 |
CAGR | 7% |
Growing Sector | Health & Wellness |
Ghana Biscuits and Crackers Market report thoroughly covers the market By Product, By Applications. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Ghana Biscuits and Crackers Market is expected to witness significant growth in the coming years, owing to the increasing demand for convenient and affordable snacks, as well as the growing popularity of western-style foods in the country. Biscuits and crackers are widely consumed by Ghanaians of all ages, making it a lucrative market for both local and international players. The sweet biscuits segment holds the largest share in the market, followed by salty biscuits. However, the demand for flavoured and cream-filled biscuits is also on the rise, driven by consumer preference for indulgent snacks.
According to 6Wresearch, the Ghana Biscuits and Crackers Market Size is projected to grow at a CAGR of 7 % during the forecast period 2025-2031. One of the major drivers of this market is the rising health consciousness among consumers. The availability of healthier options such as whole wheat or multigrain biscuits and crackers has significantly boosted the demand for these products. Additionally, the growing middle-class population in Ghana with higher purchasing power has also contributed to the growth of this market.
Despite this positive growth trajectory, there are some challenges faced by the Ghana biscuits and crackers market. One of the major challenges is the competition from other snack options such as chips and chocolates. Moreover, fluctuations in raw material prices can also affect the profitability of manufacturers in this market. Additionally, the growing trend of online shopping has made these products more accessible to consumers across all regions in Ghana. This has led to price sensitivity among consumers, making it difficult for international brands to establish a strong foothold in the market. Moreover, the lack of awareness about the health benefits of biscuits and crackers among some segments of the population also poses a challenge for market growth.
One of the major Trend is driving the Ghana Biscuits and Crackers Market Growth is the convenience and availability of packaged snacks. With busy lifestyles and hectic work schedules, consumers are increasingly opting for convenient snack options that require little or no preparation time. Biscuits and crackers provide a quick and easy snacking solution, making them a popular choice among consumers.
Another key trend in the Ghana biscuits and crackers market is the introduction of healthier options. In response to growing concerns about health issues related to high sugar and fat intake, manufacturers are introducing products with healthier ingredients such as whole grains, natural sweeteners, and reduced-fat options. This trend is particularly appealing to health-conscious consumers looking for guilt-free snacking options.
Ghana Biscuits and Crackers Market Industry presents promising investment opportunities due to its robust growth trajectory fueled by urbanization and changing consumer habits. Investors can capitalize on the increasing demand for innovative products by supporting companies that focus on novel flavor development and attractive packaging solutions. Moreover, the rising health consciousness among consumers opens avenues for investments in healthier snack options that cater to this trend, such as biscuits with natural ingredients or fortified with vitamins and minerals.
With a competitive landscape featuring both local and international brands, strategic alliances or collaborations can offer a distinct advantage and pave the way for new entries into the market. Additionally, investments in expanding distribution networks can enhance market reach, particularly in underserved rural areas, aligning with the broader infrastructural improvements in Ghana.
Several leading players dominate the Ghana Biscuits and Crackers Market share, including both international and local manufacturers. include Nestle Ghana Limited, Mondelez International Inc., AVI Limited, and SANO Natural Foods Ltd. These companies have been implementing various strategies such as product innovation, partnerships, and expansions to increase their market share in Ghana.
The Ghana Food and Drugs Authority (FDA) regulates and monitors all food products in the country, including biscuits and crackers. The authority ensures that these products comply with safety and quality standards set by national and international organizations. This includes proper labelling, ingredient information, and adherence to hygiene practices during production.
These regulations provide consumers with the assurance that the products they consume are safe and of high quality. One of the key initiatives is the establishment of the National Food Buffer Stock Company (NAFCO) by the Government of Ghana. This organization was created to ensure food security in the country by purchasing, storing, and distributing various food products, including biscuits and crackers. By providing a reliable market for manufacturers, NAFCO has played an essential role in stimulating production and encouraging investment in the industry.
The future of the Ghana biscuits and crackers market looks promising with the growing demand for convenience food products and changing consumer preferences. Manufacturers who are able to offer healthier options and leverage digital platforms for marketing and sales are likely to see success in this market. Furthermore, as Ghana's economy continues to grow, there will be a rise in disposable income, leading to an increased purchasing power of consumers. This is expected to drive the demand for premium biscuit and cracker products in the country.
The report offers a comprehensive study of the subsequent market segments and their leading categories.
According to Nitesh Kumar, Research Manager, 6Wresearch, the online segment has shown a significant growth in demand for biscuits and crackers in Ghana. This can be attributed to the increasing popularity of e-commerce platforms and the convenience they offer to consumers in purchasing food products.
The market report has been segmented and sub segmented into the following categories:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Ghana Biscuits and Crackers Market Overview |
3.1 Ghana Country Macro Economic Indicators |
3.2 Ghana Biscuits and Crackers Market Revenues & Volume, 2021 & 2031F |
3.3 Ghana Biscuits and Crackers Market - Industry Life Cycle |
3.4 Ghana Biscuits and Crackers Market - Porter's Five Forces |
3.5 Ghana Biscuits and Crackers Market Revenues & Volume Share, By Product, 2021 & 2031F |
3.6 Ghana Biscuits and Crackers Market Revenues & Volume Share, By Applications, 2021 & 2031F |
4 Ghana Biscuits and Crackers Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Ghana Biscuits and Crackers Market Trends |
6 Ghana Biscuits and Crackers Market, By Types |
6.1 Ghana Biscuits and Crackers Market, By Product |
6.1.1 Overview and Analysis |
6.1.2 Ghana Biscuits and Crackers Market Revenues & Volume, By Product, 2021 - 2031F |
6.1.3 Ghana Biscuits and Crackers Market Revenues & Volume, By Biscuits, 2021 - 2031F |
6.1.4 Ghana Biscuits and Crackers Market Revenues & Volume, By Crackers, 2021 - 2031F |
6.2 Ghana Biscuits and Crackers Market, By Applications |
6.2.1 Overview and Analysis |
6.2.2 Ghana Biscuits and Crackers Market Revenues & Volume, By Online, 2021 - 2031F |
6.2.3 Ghana Biscuits and Crackers Market Revenues & Volume, By Supermarket, 2021 - 2031F |
6.2.4 Ghana Biscuits and Crackers Market Revenues & Volume, By Food Store, 2021 - 2031F |
7 Ghana Biscuits and Crackers Market Import-Export Trade Statistics |
7.1 Ghana Biscuits and Crackers Market Export to Major Countries |
7.2 Ghana Biscuits and Crackers Market Imports from Major Countries |
8 Ghana Biscuits and Crackers Market Key Performance Indicators |
9 Ghana Biscuits and Crackers Market - Opportunity Assessment |
9.1 Ghana Biscuits and Crackers Market Opportunity Assessment, By Product, 2021 & 2031F |
9.2 Ghana Biscuits and Crackers Market Opportunity Assessment, By Applications, 2021 & 2031F |
10 Ghana Biscuits and Crackers Market - Competitive Landscape |
10.1 Ghana Biscuits and Crackers Market Revenue Share, By Companies, 2024 |
10.2 Ghana Biscuits and Crackers Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |