Ghanaian consumer packaged goods increased by 8.9% in half-year 2026 – Maverick Research
According to the market research firm, the composition of that growth is equally revealing. Food increased its share of CPG volume from 32.2% to 34.2%, with edible oil, tomato paste, milk, noodles and food seasonings among the categories driving the recovery.
Recent data from Maverick Research indicates that Ghanaian consumer packaged goods (CPG) volumes surged by 8.9% during the first half of 2026, accompanied by a 15.6% increase in value. This growth marks an emerging opportunity in West Africa, particularly in Ghana and Nigeria. Previously, value growth in many emerging markets was often driven by inflation, but according to Maverick Research, Ghanaian consumers are now buying more rather than merely paying more.
The composition of this growth is diverse, with food claiming a larger share of CPG volume, rising from 32.2% to 34.2%. Categories such as edible oil, tomato paste, milk, noodles, and food seasonings have contributed to this recovery. Factors such as improving purchasing power, reduced inflation, and a stronger cedi have enabled consumers to replenish their baskets.
However, the recovery extends beyond Ghana, with Côte d'Ivoire experiencing about a 3% volume growth and Cameroon recording 2.7% growth in the first half of 2026. Maverick Research emphasizes that West Africa is not a singular consumer market but rather a region where different countries and even regions within those countries are progressing at varying speeds and responding to unique economic forces.
The potential for growth in this region is significant, but success demands a distinct strategy. Companies that have thrived in the region, like Nestlé, have established robust local capabilities and tailored global brands to the preferences of local consumers. Nestlé, for instance, has deeply integrated its MAGGI brand into West African cuisine and adapted its MILO brand to suit local tastes and supply chains.
Nestlé's strategy highlights the importance of local production and distribution; availability is closely tied to market share. In Ghana, being available is not merely an execution measure but a strong indicator of success. The performance of individual brands supports this notion, with 80% of the top five gainers in Ghana over the past two years, including Viju, Verna, Malta Guinness, Geisha, and Bigoo, expanding their distribution.
While pricing played a role for some brands, wider availability consistently distinguished the winners, emphasizing the necessity of combining availability with genuine consumer demand.
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