Key regions: United States, Russia, Canada, China, United Kingdom
The Other Oils & Fats Market in Egypt is experiencing minimal growth, influenced by factors such as fluctuating consumer preferences, increasing competition from imported products, and economic challenges affecting purchasing power among consumers.
Customer preferences: Consumers in Egypt are gradually prioritizing healthier and more sustainable oils and fats, reflecting a growing awareness of nutritional benefits and environmental impact. This shift is particularly notable among younger demographics who are increasingly influenced by global health trends and social media. Additionally, traditional cooking oils are being re-evaluated as households seek alternatives that align with modern lifestyle choices, such as plant-based and organic options, driven by both health consciousness and cultural shifts towards more diverse culinary practices.
Trends in the market: In Egypt, the Other Oils & Fats market is experiencing a notable shift towards healthier and more sustainable options, driven by a growing consumer awareness of nutritional benefits and environmental impacts. Younger demographics are particularly influential, embracing global health trends and social media advocacy for plant-based and organic products. This trend is prompting households to reassess traditional cooking oils, leading to increased demand for alternatives that cater to modern culinary practices. Industry stakeholders must adapt to these evolving preferences, focusing on innovation and marketing strategies that highlight health-conscious and sustainable offerings.
Local special circumstances: In Egypt, the Other Oils & Fats market is shaped by a rich culinary heritage that emphasizes traditional cooking methods, yet there's a rising acceptance of healthier alternatives among consumers. The country’s diverse agricultural landscape enables the local production of various oils, while cultural preferences often dictate the types used in everyday cooking. Additionally, regulatory initiatives aimed at promoting food safety and nutrition are encouraging the adoption of healthier oils. This interplay of tradition, innovation, and regulation is driving a dynamic shift towards more sustainable and health-focused oil options.
Underlying macroeconomic factors: The Other Oils & Fats market in Egypt is influenced by macroeconomic factors including agricultural productivity, consumer spending patterns, and government policies. The nation’s economic health, characterized by steady GDP growth and a burgeoning middle class, facilitates increased demand for diverse cooking oils. Additionally, global trends towards health and sustainability are prompting shifts in consumer preferences, with a growing inclination towards healthier oil options. Fiscal policies that promote agricultural innovation and food safety regulations further support the market's evolution. These dynamics create a robust environment for the development of oils that align with both traditional practices and modern health-conscious trends.
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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