Key regions: Japan, United States, Philippines, Russia, China
The Processed Fish & Seafood Market in Egypt is experiencing slow growth due to factors such as limited consumer awareness, lack of infrastructure, and supply chain challenges. Despite the convenience offered by these products, market growth is being hindered by challenges within the sub-markets of Canned, Dried & Smoked Fish and Fish Fingers & Portions. However, with increasing adoption of digital technologies and rising health consciousness among consumers, the market is expected to witness moderate growth in the coming years.
Customer preferences: Consumers in Egypt are increasingly turning towards healthier and more convenient food options, leading to a rise in demand for processed fish and seafood products. This trend is driven by a growing awareness of the health benefits of seafood, as well as a shift towards more time-efficient and convenient meal solutions. Additionally, the rise in disposable income among younger demographics has also led to an increase in demand for premium seafood products, such as smoked or pre-marinated fish.
Trends in the market: In Egypt, there is a growing trend of processed fish and seafood products being marketed as a healthy and convenient option for consumers. This trend is expected to continue, as there is a high demand for these products due to busy lifestyles and increasing health consciousness. This presents opportunities for industry stakeholders to innovate and introduce new, healthier options to meet consumer preferences. Additionally, the rise of e-commerce in Egypt is also expected to have a significant impact on the processed fish and seafood market, as more consumers are turning to online platforms for their food purchases. This presents an opportunity for industry stakeholders to tap into the digital market and reach a wider customer base.
Local special circumstances: In Egypt, the Processed Fish & Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's long history of fishing and seafood consumption. The Nile River, as well as the Mediterranean and Red Seas, provide a rich source of seafood for both local consumption and export. Additionally, Egypt's cultural and religious practices, such as the predominance of Islam, play a significant role in shaping the market. The country's strict halal certification requirements for seafood products have led to the development of specialized processing facilities, catering to both domestic and international demand. Furthermore, Egypt's strategic location at the crossroads of Africa, Asia, and Europe has made it a key player in the global seafood trade, with strong ties to neighboring markets such as the Middle East and Europe.
Underlying macroeconomic factors: The Processed Fish & Seafood Market of the Fish & Seafood Market within The Food market is greatly impacted by macroeconomic factors in Egypt. The country's economic health, fiscal policies, and global economic trends play a significant role in shaping the market's performance. For instance, a strong economy and favorable fiscal policies can lead to higher consumer spending, thus driving demand for processed fish and seafood products. Additionally, government investments in the food and seafood industry, along with favorable trade policies, can further stimulate market growth. On the other hand, economic downturns and challenges in the regulatory environment can hinder market growth. Furthermore, the increasing population and changing dietary preferences in Egypt also contribute to the demand for processed fish and seafood products.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
