The rate of growth in retail volume sales of baked goods in Egypt will decelerate during 2020, as will the growth rate of retail current value sales, largely due to impact of COVID-19 restrictions on consumer confidence and the fact that consumers have been spending more time at home and thus making fewer impulse purchases. There was some panic buying during the early stages of the pandemic, but this was short lived.
Baked goods are the main source of carbohydrates in Egypt, with flat bread widely regarded as the most affordable source of nutrition among consumers of all social classes. As a result, it continues to account for the bulk of retail volume sales of baked goods.
Retail value shares of baked goods are fragmented, with the two leading players – Edita Food Industries SAE and Modern Bakeries 6 Of October SAE – accounting for less than 15% of retail current value sales between them in 2020. Artisanal players continue to account for the bulk of retail current value sales of baked goods, particularly bread.
Growth in retail volume sales of baked goods is forecast to accelerate during 2021 as life begins to return to normal in the wake of COVID-19. During the forecast period as a whole, growth in retail volume sales of baked goods will slow modestly but remain vigorous, due in large part to the country’s rapidly expanding population.
The prices of baked goods are fixed by the government in Egypt. These price controls are unlikely to lifted in the near future, as they are an important part of the government’s economic policy.
The pandemic has provided a significant boost to e-commerce as a distribution channel for baked goods in Egypt. While its retail value share remains very low, retail current value sales will increase significantly during 2020.
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This report originates from Passport, our Baked Goods research and analysis database.
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