Egypt Herbs and Spices Market Revenue, Share, Growth Rate, Trends, Analysis, Future Scope, Forecast To 2027
The
Egypt Herbs and Spices Market Revenue has entered a maturity phase, but,
the demand from food manufacturers and changing market trends are likely to
retain the growth of the market. Customer readiness to experiment with new
flavors coupled with the demand for exotic and ethnic flavors are anticipated
to catapult the market on an upward trajectory. Additionally, the market
players are organizing vigorous promotional campaigns for creating product
awareness and retaining the customers. The key players strive to stay ahead of
the curve and are seen to collaborate with food manufacturers for expanding
consumer base. An all-round development of the Egypt
Herbs and Spices Market Revenue
at a moderate pace is expected over the next couple of years.
Key
Players
Some of
the key players profiled by MRFR in the report are Aljawhara Herbs & Spices
(Fayoum), AL Sharq Spices (Elfayoum), International Aromatics S.A.E
(Alexandria), Herbs Egypt (St. Giza), Valley Herbs (Al Fayoum), Green Valley
Herbs (Fayoum), United for Herbs and Spices (Fayoum), and Berlik Spices
(Fayoum).
Market Segmentation:
MRFR’s report
offers a detailed segmental analysis of the market based on type, packaging
material, and distribution channel. By type, the Egypt Herbs and Spices Market Revenue has been segmented into herbs and spices. Among
these, the spices segment currently commands the maximum share of the market
and is projected to thrive at 3.27% CAGR through the assessment period.
Meanwhile, the herbs segment is estimated to register a relatively higher CAGR
over the review period.
By packaging
material, the market has been segmented into paper, plastic, and others. The
plastic segment held the most significant market share in 2017 which accounted
for 58.35% share. The growth is attributable to the temperature resistance,
durability, etc. of the material. However, the paper segment, which offers
cost-efficiency, versatility, etc., is poised to thrive at a comparatively
higher growth rate.
By
distribution channel, the Egypt Herbs and Spices Market Revenue is segmented into store-based and non-store based.
The store-based segment has further been sub-segmented into
supermarket/hypermarket, convenience stores, and others. The store-based
segment is estimated to retain its pole position towards the end of the
forecast period and strike a CAGR of 3.16%.
Access
Report @ https://www.marketresearchfuture.com/reports/egypt-herbs-spices-market-6327
Regional Analysis
By region, the Egypt Herbs and Spices Market
Revenue has been segmented into North Africa and South West Asia. North Africa
is poised to lead the sale of herbs and spices in Egypt and is estimated to
reach a valuation of USD 100.89 Mn by the end of 2023. The food manufacturers
have fueled demand for herbs and spices in the region for strengthening their
footholds in the market by facilitating product differentiation. Additionally,
the medicinal benefits of herbs and spices such as strengthening the immune
system, preventing cold & flu, curing migraine headaches, controlling
cholesterol, etc. have increased its application in dietary supplements and
healthcare sector. The boost in the sales of herbs and spices in the region is
also attributable to the increasing per capita income. Meanwhile, South West
Asia is projected to exhibit a higher CAGR of 3.87%. The increasing demand for
natural herbs and spices coupled with a widening range of applications across
various industry verticals such as cosmetics & personal care are expected
to steer the growth of the market in the region. Furthermore, the growing demand
for ethnic flavors in the region is likely to have a positive influence on the Egypt
Herbs and Spices Market Revenue.
NOTE: Our Team of Researchers
are Studying Covid19 and its Impact on Various Industry Verticals and wherever
required we will be considering Covid19 Footprints for Better Analysis of
Market and Industries. Cordially get in Touch for More Details.
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