Egypt herbs and spices market Overview:
As per the research, it is expected that the global ancient Egypt herbs and spices market is growing. It reached a valuation of USD 94.8 Mn in 2017, and it is projected to exhibit a compound annual growth rate of 3.27% between 2018 and 2023.
The import of herbs and spices is rising continuously in Egypt due to the high consumption rate. You must know that the herbs and spices are used in various Egyptian items to add more flavors. The herbs and spices used in ancient Egypt for multiple purposes like food flavoring and garnishing are also used to prepare traditional medicines.
The Egypt herbs and spices market research report for the Egypt Herbs and Spices covers historical market trends, forecast, market dynamics, key players market share analysis, market value by region, segmentation, market factor analysis, and country-level analysis for each market segment. This report is mainly provided for the international market as well as for development trends, key regions development status, and competitive landscape analysis.
As per the report, it is estimated that the market to retain its dominance throughout the forecast period of 2023. And the estimation is among the Egypt country to reach USD 10089 million with registering CAGR of 30.19.
Egypt herbs and spices market COVID-19 Analysis:
According to the Egypt market research, the herbs and spices market is growing at a high CACG during the forecast period of 2018-2023. And the main reason for the expansion of this market is the increasing interest of the individuals in this industry. As per the current trends, it is expected that the herbs and spices market to influence the future prospect. The business trends provide key statistics on the state of the industry and are a valuable source of guidance and direction for companies and individuals interested in the market.
The impact of the COVID-19 outbreak on the industry was fully assessed, and full risk assessment and industry recommendations were made for herbs and spices in a special period. There were a number of steps taken by the Government/Companies to overcome this impact of COVID-19. As a result of the government and companies' initiatives, the company's and consumers' sales and opportunities in the herbs and spices international market are stabilizing.
Major market Drivers
In the current market, the herbs and spices play an important role in consumer food habits as it is used to enhance the taste and flavor. The herbs and spices are popular because of their effective benefits like good for the human body. By the end of the forecast, as mentioned above, the US herbs and spices market is slated to be valued at US$ 2.4 Mn by the end.
You must know that the global market is anticipated to expand quickly and as per the forecast decade of 2018-2023, registering a CAGR of ~4%.
It is expected that the herbs and spices international Market is projected to grow at a CAGR of 7.1% during the forecast period. This industry is continuing to grow in the future period. You must know that spices are being dominantly used in the cosmetics industry for their organic properties.
There are multiple herbs and spices available in the market that you could purchase for your effective benefits. And the Egyptian herbs manufacturer are manufacturing the best quality at effective prices. So it is expected the demand for herbs and spices would increase in the future.
In the current period, the main market restraints that were faced by the herbs and spices market is the COVID-19 situation. It has impacted the sales and the demand for herbs and spices to a great extent. And a number of measures were taken that resulted in increasing the demand for herbs and spices.
In order to overcome the impact of the covid-19 situation in the market, ideal measures were taken by the key players. And the demand for Egyptian herbs and spices is continuously increasing.
There are multiple changeless that the herbal products the Egyptian market might face. But as per the forecast, the herbal product may enhance its growth in recent years. The best thing about herbal plants is that they could be used as a source of remedies since ancient times in Egypt.
Still, in the current market, many herbal products are used for remedial measures and are also expected to be used in the future.
The herbs and spices are used for food flavoring and garnishing and for remedial purposes. Due to the health benefits, it is expected to have a healthy value growth though a degree of stockpiling drives sales. The herbal products are accountable for a sizeable value of consumer health in Egypt.
Now the market players have understood the importance of herbs and spices and their demand in the current market. There has been a small boost in demand for Egypt's herbs and spices from the Covid-19 situation.
Value Chain Analysis
The Egyptian Herbs and Spices' value chain analysis report includes production, consumption, and processing phases. The production phase mainly deals with the problems related to quality in the cultivation and harvest process. Then the process phases are mainly for the size, location, types of the products. And the consumption phase deals with the qualities and market shares.
The herbs and spices market offers quality herbal products. These spices and segments hold the major share in the market. And it also holds the majority share in the current market for effective growth. As per the projection, the market is expected to thieve at a 3.27% CAGR through the forecast period.
As per the research and analysis, the herbs segment is also estimated to register a higher CAGR over the review period.
The market segment is done as per the packaging materials like as per plastic, papers, and much more. And among the others, the plastic segment holds the most significant market share in the year 2017. The growth of the plastic segment is due to the higher temperature resistance and durability.
The paper segment is also considered as the cost-effective segment, which is increasing its demand. It is expected to thrive at a comparatively higher growth rate for the forecast period.
Distribution channels do the market segment for Egyptian herbs and spices. It is done based on the store and non-stored distribution. The best part of the store-based distribution is that it is convenient.
As per the estimate, the store-based segment is expected to retain its pole until the end of the forecast period, exhibiting a CARG of 3.16 %.
The analysis of the Egyptian herbs and spices market is segmented by geographical manner. The segmentation is done into North Africa and Southwest Asia. And the North American segment is expected to retain the dominant share over the forecast period in the Egyptian market.
Moreover, the Southwest Asia segment's forecast period is expected to exhibit a higher CAGR of 3.87 %.
Competitive Landscape of Egypt herbs and spices
The research report on the Egypt herbs and spices may include the five forces analysis and the SWOT analysis to understand better the factors impacting consumer and supplier behavior.
The competitive landscape report contains the key information on the key players, market price, market overview, and market trends. It mainly consists of valuable information and in-depth analysis for the forecast period.
List of Key Companies Covered in this Report:
The industry's market key players are giving out immense contributions to the market for its effective growth. And the best part is that these players hold the responsibility to meet the global market's significant needs that too with considerable production ability.
The feasibility of new investment projects is assessed, and overall research conclusions are offered as the current development in the Egypt trend.
This report's main purpose is to highlight the global growth of the Egyptian herbs and spices market that too in terms of revenue hike by the end of 2023.
Scope of the Report & Segmentation Table:
By distribution channel
Frequently Asked Questions (FAQ) :
The market overview report studies the global and regional market that too with in-depth analysis of the overall growth prospects in the global market.
There are multiple segments like by product type, by application, by technology, and by region.
It provides a detailed evaluation of the market and highlights the information on different aspects that may include the drivers, opportunities, restraints, and threats.
Tremendous growth in the consumption of Herbs and Spices in the developing countries is encouraging the key players of Cosmetics and medicine industries to expand their business portfolio in the global market
Major key players listed in the Herbs and Spices market include AL Sharq Spices (Elfayoum) Valley Herbs (Al Fayoum), International Aromatics S.A.E (Alexandria), Herbs Egypt (St. Giza), Green Valley Herbs (Fayoum), Aljawhara Herbs & Spices (Fayoum), United for Herbs and Spices (Fayoum), Berlik Spices (Fayoum) among many others. Herbs and Spices has an established market throughout Egypt owing to Increase in dietary supplements by consumers, and its medicinal properties drive this market. These listed players account for the major share in the Egypt Herbs and Spices market. To compete with the new players entering in the Herbs and Spices market, the established players follow certain strategies to sustain their consumer base.
International Aromatics S.A.E accounted for the highest market share and is projected to constitute approximately 15.1% share in Egypt Herbs & Spices market. The company has been around for 40 years and is well established having a diversified product portfolio. Furthermore, the company has a strong presence in the international market.
Green Valley Herbs also accounted for a prominent share of approximately 12.9% in Egypt Herbs & Spices market. The company offers a wide and diverse range of products and has a presence in almost 40 countries across the globe. Berlik Spices is accounting for 11.9% market share in Egypt Herbs & Spices market. Al Sharq Spices is accounting for approximately 11% of the overall market.
Calendula Herbs exports products in Europe and American Market and manufactures a broad range of products including, Lemon Grass, hibiscus, sage, calendula, spearmint, basil, peppermint, chamomile, thyme, rosemary, parsley, Coriander, saffron, cloves, ginger, among others. The company accounts for approximately 10.2% of the total market share in Egypt Herbs & Spices market. Major manufacturers also are found to have a high focus on strategic business expansion to strengthen their business presence. Furthermore, they have ventured into the organic herbs and spices market to capitalize on the growing demand. Manufacturers such as Berlik Herbs and Spices and United Herbs and Spices offers both conventional organically certified products.
The other prominent players in the market include Aljawhara Herbs & Spices (Fayoum), United for Herbs and Spices (Fayoum), Berlik Spices (Fayoum) and other players. Companies are majorly focusing on acquisitions followed by expansions and joint ventures. Additionally, the companies are inclined towards new product launches and their product promotions to strengthen their marketing base.