The economy of Egypt relied heavily on imports earlier until import substitution policies were put in place and was crumbling under the weight of its burgeoning debt. Later it was freed from these shackles when the International Monetary Fund (IMF) released a series of arrangements, after the country participated in the Gulf War coalition that helped it to improve its macroeconomic indicators. Undergoing these changes, the Egyptians saw the vegetarian diet to be cheaper than a non-vegetarian one. Even then seafood ingredients continue to be important components of their daily meals.
The report ‘Consumer and Market Insights report on the Fish & Seafood market in Egypt’ by Canadean analyzes six categories, as the market stays highly disintegrated, out of which Ambient Fish and seafood segment promises fastest growth potential at 4.8% CAGR from 2015 to 2020. The dominant market share, total one fifth of the retail food sales of the country, is captured by Siblou and Samak seafoods. Since the demand continues to soar as shown by high production and imports and almost negligible exports, the sales for packaging seafood or rigid metal will be the fastest growing packaging material in Egypt. In order to tap the market as maximum possible, the private brands are making effort to penetrate the market and trickle down to the last layer of the consumer segment, successfully capturing 37.2% of the market, According to Ken Research.
Fresh Fish and Seafood Industry leads the Fish and Seafood industry of Egypt both in volume and value. Privately marketed products reach to the lowest tranche of the consumer segment and the ‘Ambient’ segment is expected to grow at about 4.8% per year (Compounded Annual Growth rate or CAGR).
Key Topics Covered in the Report:
- Value and Volume analysis of the Egyptian Fish and Seafood Market
- Detailed Retail Scenario and Major Distribution Channels
- Packaging Trend Framework
- Segment definitions and analysis
- Average category wise pricing
- Key Players of the Egyptian Food Market