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Agriculture In Ghana Market Size (2024 - 2029)

The agriculture sector in Ghana is experiencing growth, with its market size reflecting the country's economic expansion and strategic initiatives aimed at enhancing productivity and self-sufficiency. Agriculture plays a vital role in Ghana's economy, contributing significantly to foreign exchange revenues and employment. The government is focusing on import substitution strategies for key staples like rice and chicken, while also promoting the production of cash crops such as cocoa and oil. Supportive policies and programs are fostering agricultural development, with an emphasis on increasing access to finance and improving nutrition. Collaborations with commercial enterprises are further driving the sector towards meeting national and global standards.

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Market Size of Agriculture In Ghana

Agriculture In Ghana Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 3.40 Billion
Market Size (2029) USD 3.87 Billion
CAGR (2024 - 2029) 2.65 %

Agriculture In Ghana Market Analysis

The Agriculture In Ghana Market size is estimated at USD 3.40 billion in 2024, and is expected to reach USD 3.87 billion by 2029, at a CAGR of 2.65% during the forecast period (2024-2029).

Ghana's agricultural market, which includes crop production, livestock farming, fisheries, and agro-processing, plays a crucial role in the nation's economy. Agriculture not only ensures food security and provides employment but also significantly impacts trade and exports. It's a key driver of Ghana's foreign exchange revenues and overall economic vitality. The sector's increasing contribution to GDP highlights its rising significance. World Bank data underscores this trend showcasing that the agricultural sector's share of Ghana's GDP increased from 19.5% in 2021 to 21.1% in 2022. Modern innovations, such as digital technologies, precision farming, and smart irrigation, promise to enhance productivity and broaden market access. In 2023, Complete Farmer, a digital platform connecting African farmers, including those in Ghana, to global markets, secured a USD 10 million funding boost for its expansion.

Ghana is striving for self-sufficiency, focusing on enhancing agricultural productivity, ensuring better financial access, and promoting improved nutrition. The country is committed to producing a diverse range of nutrient-rich foods and collaborates with commercial agricultural enterprises to elevate operations to meet both national and international standards. Special emphasis is placed on northern districts, where poverty is prevalent and food security remains a challenge. To underscore these initiatives, the United States Agency for International Development (USAID) and the UN World Food Programme (WFP) launched a USD 7 million initiative called 'Farmer Support Activity' in 2023. This program supported 17,000 vulnerable smallholder farmers in the Upper East, Upper West, Northeast, and Northern Regions during the lean season. The initiative, in collaboration with the Ministry of Food and Agriculture and other partners, provides cash transfers and agricultural training. The primary objectives are to enhance food security, improve livelihoods, and foster sustainable agricultural development in Ghana.

Agriculture In Ghana Industry Segmentation

Agriculture is the practice of farming, including the cultivation of the soil for the growing of crops and the rearing of animals to provide food, wool, and other products. Agriculture in Ghana includes the production of various crops, such as yams, grains, cocoa, oil palms, kola nuts, and timber, which form the agricultural base of Ghana's economy. The report defines agricultural products in terms of the end-users. The Ghana agriculture market is segmented by crop type into Cereals, Oilseeds and Pulses, Fruits, and Vegetables. The report provides production analysis (volume), consumption analysis (value and volume), import analysis (value and volume), export analysis (value and volume), and price trend analysis. The report offers market size in value (USD) and volume (Metric Tons) for all the above segments.

Crop Type (Production Analysis by Volume, Consumption Analysis by Volume and Value, Import Market Analysis by Volume and Value, Export Market Analysis by Volume and Value and Price Trend Analysis)
Food Crops / Cereals
Oilseeds and Pulses
Fruits
Vegetables
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Agriculture In Ghana Size Summary

The agriculture sector in Ghana plays a pivotal role in the country's economy, contributing significantly to foreign exchange revenues and providing income for a large portion of the population. The government is actively working towards achieving self-sufficiency by enhancing agricultural productivity and profitability, improving access to finance, and promoting economic inclusion. This is being supported by evidence-based interventions aimed at improving food security, nutrition, and resilience, particularly in regions with high poverty and low nutrition statistics. The sector is also seeing increased collaboration with commercial enterprises to meet both national and global standards. Key crops include rice, cocoa, oil, pineapple, tomatoes, and fresh vegetables, with rice being a major staple despite high levels of imports due to domestic consumption exceeding production. The government has implemented import substitution strategies and subsidies to boost local production of rice, corn, sorghum, soybeans, and broilers.

The demand for high-quality fruits and vegetables is on the rise, driven by the growth of middle-class families in Ghana. The domestic vegetable market is expanding rapidly, with tomatoes, onions, and peppers being significant contributors. The GhanaVeg program aims to establish a sustainable and competitive vegetable sector, targeting high-end domestic and international markets. This initiative is expected to enhance vegetable production, making the fruit and vegetable segment the fastest-growing in the sector. Maize is a crucial crop, providing a major source of calories and accounting for a significant portion of cereal production. The government and private sector initiatives, including the use of hybrid seeds and increased fertilizer usage, are expected to support steady growth in maize production. Recent investments in processing facilities, such as Nestle Ghana's expansion and the inauguration of a maize processing factory, highlight the sector's potential for growth and development.

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Agriculture In Ghana Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Food Demand to Cater to the Population

      2. 1.2.2 Government Supportive Initiatives

      3. 1.2.3 Technological Advancements and Innovation

    3. 1.3 Market Restraints

      1. 1.3.1 Limited Access to Finance and Credit

      2. 1.3.2 Unfavorable Weather Patterns

  2. 2. MARKET SEGMENTATION

    1. 2.1 Crop Type (Production Analysis by Volume, Consumption Analysis by Volume and Value, Import Market Analysis by Volume and Value, Export Market Analysis by Volume and Value and Price Trend Analysis)

      1. 2.1.1 Food Crops / Cereals

      2. 2.1.2 Oilseeds and Pulses

      3. 2.1.3 Fruits

      4. 2.1.4 Vegetables

Agriculture In Ghana Market Size FAQs

The Agriculture In Ghana Market size is expected to reach USD 3.40 billion in 2024 and grow at a CAGR of 2.65% to reach USD 3.87 billion by 2029.

In 2024, the Agriculture In Ghana Market size is expected to reach USD 3.40 billion.

Agriculture In Ghana Report Snapshots

Agriculture In Ghana Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)