Key regions: Philippines, United States, Canada, India, China
The Bread & Cereal Products market in Egypt has witnessed steady growth due to factors such as increasing consumer preference for convenient and healthy food options, rising health consciousness, and the availability of online purchasing options. However, the market's growth rate remains subdued, likely influenced by challenges such as fluctuating prices of ingredients and intense competition among sub-markets.
Customer preferences: In Egypt, there has been a noticeable increase in demand for healthier and more nutritious bread and cereal products. This can be attributed to a growing awareness about the importance of a balanced diet and the impact of food on overall health. As a result, there has been a rise in the consumption of whole grain and gluten-free options, as well as an increase in the use of local and traditional ingredients. Additionally, there has been a shift towards more convenient and on-the-go breakfast options, such as cereal bars and oatmeal cups, catering to busy and time-conscious consumers. This trend is further fueled by the rising urbanization and hectic lifestyle of the population.
Trends in the market: In Egypt, the bread and cereal products market is experiencing a surge in demand for healthier options, as consumers become more health-conscious. This trend is driven by the rising awareness of the importance of a balanced diet and the increasing prevalence of lifestyle diseases. As a result, there has been an increase in the production and availability of whole grain and fiber-rich products, as well as gluten-free options. This trajectory is significant for industry stakeholders as it presents opportunities for product diversification and innovation to cater to the changing consumer preferences. Additionally, it has implications for the overall health and wellness industry, as well as the agriculture sector.
Local special circumstances: In Egypt, the Bread & Cereal Products Market within The Food market is heavily influenced by the country's cultural and religious practices. As a predominantly Muslim country, the demand for halal certified products is high. Additionally, Egypt's strong agricultural sector and fertile land contribute to the production of locally-sourced and affordable grains, such as wheat and corn, which are used in the production of bread and cereal products. The government's subsidies on basic food items also play a significant role in shaping the market dynamics, making bread and cereal products accessible to a large portion of the population.
Underlying macroeconomic factors: The Bread & Cereal Products Market within The Food market in Egypt is impacted by various macroeconomic factors. These include the country's economic health, global economic trends, fiscal policies, and relevant financial indicators. Egypt's strong agricultural sector and favorable regulatory environment have contributed to the growth of the Bread & Cereal Products Market. Additionally, the increasing demand for healthier food options, coupled with a growing population and rising disposable income, has also driven the growth of this market. Furthermore, the government's initiatives to promote food security and reduce food waste are also supporting the growth of this market in Egypt.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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