Cooking ingredients and meals in Egypt in 2024 is facing significant challenges due to the foreign currency devaluation that occurred in March 2024, where the Egyptian pound lost 60% of its value. Import complications in the first quarter of 2024, caused by the unavailability of foreign currency, combined with geopolitical tensions in the Al-Mandab Strait, have led to increased shipping costs and a rise in cargo insurance premiums.
The economic pressures of 2023 have led to significant changes in consumer behaviour in Egypt, with both low-income and middle-class families adjusting their purchasing patterns in response to rising costs. Low-income consumers have responded by reducing their consumption of meat and chicken, typically able to afford such meals only once a week or every ten days.
The major players in the market continue to lead, although smaller local brands are gaining prominence as high prices for imported goods and established brands push consumers towards locally produced items. There is continuous innovation in packaging, aimed at triggering consumption by offering new formats at more accessible price points.
Consumers are increasingly shifting to discount stores and e-commerce platforms, both of which offer lower prices compared to traditional retailers. These options are gaining popularity as families seek to stretch their budgets further, and e-commerce platforms in particular provide discounts not available elsewhere, which is well-suited to bulk buying.
Cooking ingredients and meals in Egypt is expected to witness modest growth in volume terms, as high prices have limited demand. Essential cooking items like oils remain vital commodities for most Egyptians, and a diverse array of local brands offering various pack sizes and pricing points is available, providing consumers with a range of choices.
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Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals industry in Egypt with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Cooking Ingredients and Meals industry in Egypt, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Cooking Ingredients and Meals
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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