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 reveals that Ghanaian consumer packaged goods (CPG) volumes surged by 8.9% in the first half of 2026, accompanied by a 15.6% increase in value. This surge highlights the emerging growth potential in West African markets, specifically Ghana and Nigeria. Mavericks Research pointed out that while value growth in emerging markets has often been driven by inflation, Ghanaian consumers are now showing a different behavior – they are not just paying more, they are buying more as well.
The market research firm found that food has become a larger share of CPG volume, rising from 32.2% to 34.2%, with categories like edible oil, tomato paste, milk, noodles, and food seasonings leading the recovery. Factors such as improving purchasing power, reduced inflation, and a stronger cedi have contributed to this growth. However, the recovery is not solely a Ghana story; Côte d'Ivoire and Cameroon also experienced a volume growth of approximately 3% and 2.7% respectively in the first half of 2026.
Maverick Research emphasized that West Africa is not a homogeneous consumer market; rather, different countries, regions, and cities within those countries are progressing at varying speeds and responding to unique economic forces. The report suggests that the opportunity in the region is significant, but successful entry requires a unique approach.
Companies like Nestlé serve as prime examples, having established substantial local capabilities and adapted global brands to cater to the preferences and supply chains of local consumers. Companies can leverage locally sourced ingredients, create market-specific formulations, and build manufacturing facilities across the region.
A key factor in market share, according to Maverick Research, is availability. In Ghana, being available isn't merely an execution metric; it is closely associated with winning. The study identified that 80% of Ghana's top five gainers in the past two years – Viju, Verna, Malta Guinness, Geisha, and Bigoo – expanded their distribution.
While pricing played a role for certain brands, wider availability emerged as the most consistent factor separating the winners. Maverick Research also noted that brands such as Milo, Cerelac, and Lipton showcased sales rates that significantly surpass what distribution alone might indicate, implying that availability should complement genuine consumer pull for optimal success.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
