Egypt Herbs and Spices Market: A Comprehensive Overview of the Current Trends, Drivers, and Challenges
The Egypt herbs and spices market is expected to exhibit a steady CAGR of 3.27% with USD 0.200382067 billion by 2032 over the forecast period from 2023 to 2032
Market Dynamic:
The Egypt herbs and spices market is nearing maturity, yet is far from stagnating, as new demand is coming in from the country’s increasing urban population. The food and beverage industry is a major sector in Egypt, with the country’s population of more than 90 million estimated to spend more than 40% of their monthly salary on food. The strategic location of Egypt as a key trade hub between Europe and the Middle East/Asia Pacific is also likely to remain a key driver for the Egypt herbs and spices market over the forecast period.
The increasing availability of ready to use herbs and spices is likely to be a key factor for the Egypt herbs and spices market over the forecast period. Egyptian consumers are increasing their demand for convenience foods that can be prepared and consumed in a matter of minutes. Ready to use herbs and spices are crucial in achieving a pleasurable taste in such preparations. Increasing popularity of ethnic dishes in Egypt is likely to lead to a strong growth in demand for herbs and spices, as Egyptian cuisine employs spices and herbs liberally. The growing demand for fast foods and health foods is also likely to drive the Egypt herbs and spices market over the forecast period. Herbs and spices are used on a large scale in medicinal preparations in Egypt, which could be a major driver for Egypt herbs and spices market over the forecast period.
On the other hand, the uncertainty in the cultivation of herbs and spices in Egypt due to natural fluctuations in rainfall and other factors is likely to drag back the Egypt herbs and spices market in the coming years.
Competitive Analysis:
The Egypt herbs and spices key market players include Organic Spices Inc. (U.S.), L. Sharq spices (Elfayoum), International Aromatics S.A.E. (Alexandria), Green Valley Herbs (Fayoum), Aljawhara Herbs and Spices (Fayoum), United for Herbs and Spices (Fayoum), Berlik Spices (Fayoum), Frontier Natural Products Co-op (Norway), Rapid Organic Pvt Ltd (India), Earthen Delight (India).
Segmentation:
The Egypt herbs and spices market report is segmented on the basis of type, packaging material, distribution channel, and region.
By type, the Egypt herbs and spices market is segmented into herbs and spices. The spices segment holds a larger share and is expected to exhibit a steady 3.27% CAGR over the forecast period. The spices segment is majorly driven by the growing demand from the food and beverage industry in Egypt, which has led to a growing demand for spices of various kinds. On the other hand, the herbs segment is expected to exhibit a higher CAGR over the forecast period and grow steadily due to the growing inclusion of herbs in cosmetic products in Egypt. The increasing demand for Mediterranean food, which uses herbs in large volumes, in Egypt is also likely to be a major driver for the herbs and spices market in Egypt over the forecast period.
By packaging material, the Egypt herbs and spices market is segmented into paper, plastic, and others. Plastics held the dominant share in the Egypt market in 2017, accounting for 58.35% of the overall market. The paper segment is also expected to exhibit steady growth in the coming years, as, apart from moisture resistance, paper presents many of the key attributes required to store and transport spices and herbs.
By distribution channel, the Egypt herbs and spices market is segmented into store-based and non-store-based. Store-based distribution is likely to dominate the Egypt herbs and spices market over the forecast period.
Regional Analysis:
The Egypt herbs and spices market is segmented into North Africa and Southwest Asia. The presence of strong urban centers in the North Africa region is likely to drive the demand for herbs and spices in the North Africa region of Egypt over the forecast period. The North Africa region of Egypt holds urban centers such as Cairo and Alexandria, leading to a growing demand for cosmetics as well as food and beverages in this region. The increasing demand for herbs and spices from the cosmetics industry is likely to be a major driver for the Egypt herbs and spices market over the forecast period. the growing demand for personal care products in urban centers in Egypt is likely to be a major driver for the cosmetics industry in the region. Herbs as well as certain spices are widely used in cosmetic products and are thus likely to exhibit an increase in demand over the forecast period. The increasing awareness regarding personal appearance and cleanliness is likely to drive the cosmetics sector in Egypt over the forecast period, leading to a growing demand from the herbs and spices market in the country. Increasing awareness about American cosmetic products and the increasing efforts from multinational cosmetics industry players to incorporate local flavors and products into the cosmetic products sold in Egypt are also likely to be a major driver for the Egypt herbs and spices market over the forecast period.
The growing food and beverage industry in Egypt is also likely to remain a major driver for the Egypt herbs and spices market over the forecast period. The food and beverage industry makes use of herbs and spices liberally and in a wide range of products. This is likely to drive the Egypt herbs and spices market over the forecast period. The increasing demand for ethnically Egyptian food in Egypt is likely to drive the Egypt herbs and spices market over the forecast period, as local herbs and spices are likely to be consumed in increasing volumes for the production of the same. The growing popularity of traditional food in Egypt with a twist of taste with Western ingredients or herbs and spices is likely to be a major driver for the Egypt herbs and spices market over the forecast period.
The Southwest Asia region is expected to exhibit a higher CAGR over the forecast period, exhibiting a robust 3.87% over the forecast period. The growing demand for food and beverages in the Southwest Asia sector of Egypt is likely to remain a major driver for the Egypt herbs and spices market over the forecast period.
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