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The Food Market in Egypt: A Consumer Market of Significant Importance in the Region
- As Egyptians continue to show rising demand for Food & Beverages, the country’s retail food sector records USD 15 billion. Sources expect growth of 15-20 % over the next five years with an increase in both modern retail outlets and online retail platforms.
- The Egyptian retail food sector is classified and controlled by traditional grocery retailers whose 115,000 outlets represent 98% of the nearly 119,000 stores in the country and 80 % of sales. According to the Egyptian Chamber of Food Industries, there are over 7,000 food manufacturing companies operating in the country.
- Driving the Egyptian growing food and beverage sector is its burgeoning population, growing at around 2.3 – 2.5 % per year who spend over 30% of their income on food. (Current population is over 105 million).
Serving the Needs of one of the largest Food Markets in the World
Africa’s food market is expected to grow more than triple to $1 trillion by 2030, which would support trade contingencies for farmers, food processors, and agribusinesses, with Egypt being one of the world’s fastest growing markets for food and agricultural products. It also has one of the largest manufacturing bases in Africa, offering huge business potential.
- Egypt’s exports to the Common Market Summit for Eastern and Southern African Countries, hiked 32.4 % during the first nine months of 2021, to reach $2.3 billion
- Egypt’s imports from the COMESA countries amounted to $901 million during the first 9 months of 2021
- Egypt’s intra- Africa recorded $3.1 billion during the first 9 months of 2021
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