Key regions: Russia, China, Spain, Canada, United Kingdom
The Meat Market in Egypt has witnessed modest growth due to factors such as changing consumer preferences, increasing health consciousness, and the convenience of online meat shopping. While the sub-markets of Fresh Meat, Processed Meat, and Meat Substitutes contribute to the overall market, their minimal growth rates are impacted by fluctuating prices and limited availability of high-quality products.
Customer preferences: The rise of health consciousness and the growing awareness of the environmental impact of food choices have led to a shift towards plant-based diets in Egypt. With a large Muslim population, the demand for halal options in the meat market has also increased. Additionally, there is a growing interest in sustainably sourced and ethically raised meat products. This trend is also reflected in the rise of specialty meat shops and online delivery services for high-quality, organic meat products. As consumers become more mindful of their food choices, these trends are expected to continue driving the growth of the meat market in Egypt.
Trends in the market: In Egypt, the Meat Market within The Food market is experiencing a shift towards healthier and more sustainable options. There is a growing trend of plant-based meat alternatives, driven by consumer concerns over health and environmental impact. Additionally, there is an increase in demand for locally-sourced and ethically-raised meat products. These trends are significant as they reflect a changing consumer mindset and have the potential to disrupt traditional meat production and distribution methods. Industry stakeholders must adapt to these trends by diversifying their product offerings and implementing sustainable practices to remain competitive in the market.
Local special circumstances: In Egypt, the Meat Market within The Food market is heavily influenced by the country's geographical location, as it is situated in the heart of the Middle East. This has resulted in a diverse range of meat products, with a strong emphasis on traditional methods of preparation and cooking. Additionally, cultural norms and Islamic dietary laws play a significant role in shaping the demand for specific types of meat, such as halal options. Furthermore, government regulations on imports and exports of livestock also impact the market dynamics, creating opportunities and challenges for local meat producers and sellers.
Underlying macroeconomic factors: The Meat Market within The Food market in Egypt is heavily influenced by macroeconomic factors such as the country's economic stability, government policies, and investment in the agriculture sector. With the growing demand for meat products from the increasing population and changing dietary preferences, Egypt's meat market is expected to experience growth. However, challenges such as inflation, currency devaluation, and political instability can negatively impact market performance. Furthermore, the global trend towards sustainable and ethical meat production is also influencing consumer demand and market dynamics. As a result, companies in the meat market are investing in technology and innovation to meet these evolving consumer preferences and stay competitive in the global market.
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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