New York,US, March 08, 2023 (GLOBE NEWSWIRE) -- Egypt Herbs & Spices Market overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), Egypt Herbs & Spices Market research report — by type, Packaging materials, Distribution Channel - Forecast till 2030, the market size is expected to grow at a 3.27% CAGR and reach USD 94.8 million by 2030.
Egypt's high rate of consumption is driving an increase in the importation of herbs and spices. Several Egyptian foods employ the herbs and spices to boost their flavour. Traditional remedies are prepared using the same herbs and spices that were utilized in ancient Egypt for a variety of purposes, including food seasoning and garnishing. Along with this growing focus on health and wellbeing, makers of retail food goods have also increased the use of spices and seasonings to better suit the tastes and preferences of the many different ethnic groups of consumers worldwide. The market has the biggest potential for growth for items like ginger, dried capsicum/pimento, uncrushed pepper, curcuma, cinnamon, and cloves. The market has expanded thanks to the numerous spices' nutritional advantages.
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|Market Size in 2030||USD 94.8 million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by type, Packaging materials, Distribution Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||Growing Popularity of Ethnic and Exotic Foods|
|Increasing Demand for Ready-to-use Spice/Herb Blends|
Businesses work hard to keep their supply chains as efficient as possible, which could lead to effective product circulation in the market. With a focus on raising customer knowledge of the flavor profiles and quality of their products, prominent producers in the market consistently exert effort and invest money in marketing and advertising. The businesses are boosting their distribution networks, forming partnerships, making acquisitions, entering new territories, diversifying their product lines, etc. to become more competitive. The major players of the market are:
- Organic Spices Inc. (US)
- AL Sharq spices (Elfayoum)
- International Aromatics S.A.E (Alexandria)
- Green Valley Herbs (Fayoum)
- Aljawhara Herbs and Spices (Fayoum)
- United for Herbs and Spices (Fayoum),
- Berlik Spices (Fayoum)
- Frontier Natural Products Co-op (Norway)
- Rapid Organic Pvt Ltd (India)
- Earthen Delight (India)
- Yogi Botanical Pvt Ltd (India)
- The Spice Hunter Inc. (U.S.)
- Starwest Botanicals Inc. (U.S.)
Browse In-depth Market Research Report (116 Pages) on Egypt Herbs & Spices:
The importation of herbs and spices is rising as a result of Egypt's high consumption rate. You should be aware that many Egyptian cuisine are spiced and flavored with herbs and other natural ingredients. The same herbs and spices that were used in ancient Egypt for food seasoning and garnishing are now used to produce traditional treatments. The primary driver fueling the expansion of this market has been identified as the increased awareness of the therapeutic properties of spices and herbs, together with the increasing number of individuals who cook at home. Also, the market has been stimulated by consumers' rising willingness to pay a premium for novel and ethnic flavors. Due to the distinctive characteristics of local cuisines, which are also fueling the expansion, local cuisines have been receiving prominence on a global scale.
As consumers choose to eat out more frequently, food processors, QSRs, cafés, motels, and restaurants are the main foodservice venues offering a variety of seasonings and spices in their dishes. Many foodservice establishments draw ideas from the cuisines that customers appreciate the most, which aids in the blending of their products. Because of the pandemic, foodservice businesses were forced to close for fear of spreading the disease, which had a significant impact on this market.
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The COVID-19 outbreak's effects on the industry were comprehensively evaluated, and recommendations for herbs and spices within a certain time period were issued based on a thorough risk assessment. The government and businesses took a number of measures to mitigate the effects of COVID-19. The government and business measures are stabilizing the firm and consumer sales and potential in the global market for herbs and spices.
The market's largest share is held by the segments and spices. Also, it controls the majority of the market for sustainable growth at the moment. According to the prediction, the market is anticipated to grow at a CAGR of 3.27% over the forecast period. Herbs are predicted to have a greater CAGR throughout the study period, based on research and analysis.
In 2021, the plastic sector will hold the largest market share. The better temperature resistance and durability of plastics are what are driving the plastics market's expansion. The demand for paper is rising because it is also the most cost-effective segment. It is anticipated to increase more rapidly than average during the predicted period.
By distribution channel
The estimate predicts that the store-based segment, with a CARG of 3.16%, will maintain its lead until the conclusion of the forecast period. Many significant spice processing and marketing firms dominate the global industry. These firms grind imported or domestically produced spices and seasonings, pack them in a variety of containers, and sell them at retail establishments under their own brands or private label names. Also, after COVID-19, sales through retail channels are anticipated to stay strong due to trends that boost demand.
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North Africa and Southwest Asia are separate markets for herbs and spices in Egypt. Over the projected period, the North Africa region of Egypt's demand for herbs and spices is likely to be driven by the existence of major metropolitan centers. Urban hubs like Cairo and Alexandria are located in Egypt's North Africa region, where there is a rising demand for both food and drink as well as cosmetics. During the course of the forecast period, the growing demand for herbs and spices from the cosmetics industry is anticipated to play a significant role in driving the Egypt herbs and spices market. The region's cosmetics business is probably being significantly influenced by the rising demand for personal care items in Egypt's urban centers. Since many herbs and some spices are utilized in cosmetic goods, demand for them is expected to rise during the forecast period. Over the projection period, the Egyptian cosmetics industry is projected to be driven by rising awareness of personal hygiene and appearance, which will fuel a rise in demand from the nation's herbs and spice market. Over the course of the forecast period, the market for Egyptian herbs and spices is likely to be significantly influenced by rising consumer awareness of American cosmetic products and rising efforts from multinational players in the cosmetics industry to incorporate local flavors and products into the cosmetic products sold in Egypt.
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