Egypt Nutraceuticals Market is Expected to Dominate by Functional Foods Through 2028
Increasing instances of lifestyle-related disorders are
expected to drive the growth of the market in the forecast period 2024-2028.
According to TechSci
Research report, “Egypt Nutraceuticals - By Region, Forecast and Opportunities, 2018-2028F”, the Egypt Nutraceuticals Market is
anticipated to expand at a remarkable rate during the projected period 2024 -
2028. The main causes are increasing health
awareness, rising disposable income, government support, a growing middle
class, increasing urbanization, and ageing population.
The
Egypt Nutraceuticals market is experiencing significant growth, invested by
several key factors. One of the main factors is the increasing prevalence of
lifestyle-related disorders such as obesity, diabetes, and cardiovascular
disease. This has led to a growing demand for products that can help prevent
and manage these conditions, such as functional foods, dietary supplements, and
herbal and traditional medicines. Additionally, the increasing awareness
regarding their health among population in Egypt is driving demand for products
that promote health and wellness, and there is a growing interest in natural
and organic products. Technological advancements are creating new opportunities
for product innovation and development, which is attracting investment and
driving growth in the market.
The
COVID-19 pandemic has had a significant impact on the Egypt nutraceuticals
market. While the market was growing steadily before the pandemic, the outbreak
has accelerated demand for products that support immune health and overall
wellness. This has led to a surge in sales of vitamins, minerals, and other
dietary supplements that are believed to help support immune function. The
pandemic has also led to a shift in consumer behavior, with more people turning
to online shopping to avoid crowded stores and limit their exposure to the
virus. This has led to a boom in e-commerce for nutraceutical products in
Egypt. However, the pandemic has also created challenges for manufacturers and
distributors, as disruptions in supply chains and transportation have made it
difficult to get products to market. Additionally, the economic impact of the
pandemic has led to some consumers cutting back on discretionary spending,
which could have a negative impact on sales in the short term.
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The Egypt
Nutraceuticals Market can be segmented by product type, form, source,
distribution channel and region.
Based on product
type, the market can be segmented into Dietary Supplements, Functional Foods,
and Functional Beverages. Functional Foods will dominate the Egypt
Nutraceuticals market in forecast period, owing to the increasing prevalence of
chronic diseases, such as diabetes and heart disease. These diseases require consumers
to seek out foods that offer health benefits beyond basic nutrition. Additionally, consumers are becoming more
health-conscious and interested in natural and organic products, which are
often found in the functional foods category. Companies in the functional food
segment are also investing heavily in research and development to create new
and innovative products that address specific health concerns. Furthermore, the
convenience of functional foods is a major factor, as they are often designed
to be easy to consume and are an attractive option for busy consumers.
In terms of distribution
channel, the market can be divided into Specialty Stores, Online, Pharmacies,
and Hypermarkets/Supermarkets. The online segment of the Egypt nutraceuticals
market is expected to dominate in the coming years due to the increasing
popularity of e-commerce and the convenience it offers consumers. With the
widespread availability of smartphones and internet access, online shopping has
become an increasingly popular option for consumers in Egypt. The COVID-19
pandemic has also accelerated the shift to online shopping as more consumers
have become accustomed to shopping from the comfort and safety of their homes.
In addition, the online channel allows for greater access to a wider range of
products, including niche or hard-to-find items, which can be a major drawing
factor for consumers. Online retailers are also investing heavily in marketing
and promotions to attract and retain customers. Moreover, the online segment
has a lower overhead cost compared to physical stores, making it an attractive
option for both established brands and new entrants. With these advantages, the
online segment is well-positioned to dominate the Egypt nutraceuticals market
in the coming years.
Based on the region,
the market can be classified into following categories, Cairo, Qalyubia, Alexandria,
Port Said, Giza, and Suez. Cairo, being the capital city of Egypt, is expected
to dominate the nutraceuticals market in the country in the coming years, due
to its large population, high concentration of health-conscious consumers, and
a favorable business environment. Additionally, Cairo is home to many leading
research institutions, universities, and hospitals, which provide a strong
foundation for research and development in the nutraceutical sector. The city's
location at the heart of Egypt also makes it a natural hub for logistics and
distribution, enabling easy access to other parts of the country. All these
factors make Cairo a dominant player in the Egypt nutraceuticals market in the
coming years.
Major companies operating
in Egypt Nutraceuticals Market include:
- Pharco Pharmaceuticals
- AmCham Egypt
- Amoun Pharmaceutical Company
- Marcyrl Pharmaceutical Industries
- Acdima International Trading
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“The Egypt Nutraceuticals market
is expected to witness robust growth in the coming years, driven by various
factors such as the increasing prevalence of lifestyle-related disorders,
growing health awareness, and the rising demand for functional foods. The
market also faces some challenges, including the lack of regulatory clarity and
low consumer awareness. However, the development of innovative and affordable
products that cater to the unique needs of the local population is expected to
overcome these challenges. Technological advancements such as e-commerce
platforms, mobile applications, and social media marketing are expected to
boost market growth by increasing product visibility and accessibility.
Additionally, increasing investments in research and development, and
collaborations between local and international players, are expected to drive
the market further.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Egypt
Nutraceuticals Market, By Product Type (Dietary Supplements, Functional Foods,
Functional Beverages), By Form (Tablets, Capsules, Powder, Liquid, Others), By
Source (Animal, Plant, Microbial), By Distribution Channel (Specialty Stores,
Online, Pharmacies, Hypermarkets/Supermarkets), By Region, Competition Forecast
& Opportunities, 2028F”, has evaluated the future growth potential of Egypt
Nutraceuticals Market and provides statistics & information on market size,
structure, and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Egypt Nutraceuticals Market.
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