Key regions: South Korea, Russia, Canada, Philippines, China
The Fresh Meat market in Egypt is experiencing subdued growth, influenced by factors such as changing dietary habits and rising health concerns. The market's growth is further impacted by increasing competition from alternative protein sources and fluctuating prices of raw materials. However, the convenience of online purchasing and growing consumer awareness about the benefits of fresh, high-quality meat are expected to drive market growth in the coming years.
Customer preferences: Consumers in Egypt are increasingly prioritizing convenience and efficiency in their food purchases, leading to a rise in demand for pre-packaged and ready-to-eat fresh meat products. This trend is driven by the busy lifestyles of urban dwellers, who value quick and easy meal options. Furthermore, with the growing health consciousness in the country, there is a growing demand for organic and grass-fed meat options, as well as a shift towards plant-based alternatives. This is influenced by the cultural preference for fresh and locally-sourced food, as well as a desire for healthier and more sustainable food choices.
Trends in the market: In Egypt, the Fresh Meat Market within the Meat Market is experiencing a shift towards more sustainable and ethical practices. Consumers are increasingly seeking out locally sourced and organic meats, driving the growth of small-scale, family-owned farms. In addition, there is a growing trend of online ordering and home delivery, allowing for easier access to quality meats. These trends are significant as they align with global concerns for animal welfare and environmental sustainability. Industry stakeholders need to adapt to these changes in order to stay competitive and meet consumer demands.
Local special circumstances: In Egypt, the Fresh Meat Market is heavily influenced by the country's traditional cuisine and religious beliefs. Pork is not commonly consumed due to the large Muslim population, leading to a high demand for halal meat. The market is also affected by the country's geography, with the Nile Delta region being a major hub for the production and distribution of meat products. Additionally, government regulations on food safety and import/export policies play a significant role in shaping the dynamics of the market.
Underlying macroeconomic factors: The Fresh Meat Market of the Meat Market within The Food market in Egypt is greatly impacted by macroeconomic factors. The national economic health, fiscal policies, and global economic trends play a crucial role in the performance of this market. Egypt's growing population and rising disposable income have led to an increase in demand for fresh meat products. Additionally, government initiatives to modernize the agriculture and food processing sectors, coupled with investments in infrastructure, have provided a conducive business environment for the market. However, challenges such as inflation, currency devaluation, and political instability have hindered market growth. Overall, the market is expected to continue growing due to the favorable economic environment and increasing consumer demand for high-quality fresh meat 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.
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