Lebanon’s ongoing economic and financial meltdown continued in 2022 as consumer spending power deteriorated further. Nonetheless, cooking ingredients and meals has adjusted to the new reality, with some stability seen as a result.
Static retail volume growth was registered across cooking ingredients and meals in 2022 as demand was negatively affected by the ongoing socioeconomic crisis. Among the key factors that have put pressure on demand are sky-high inflation, supply chain disruptions and almost constant interruption to the power supply, and many other factors.
Cooking ingredients and meals is a consumer goods industry that has been more heavily impacted by the economic crisis than many others due to the fact that edible oils is the only category in which products are widely regarded as daily essentials. Indeed, the categories of cooking ingredients and meals that have faced the greatest difficulties in the face of the ongoing economic crisis are those which are not seen as essential, including sweet spreads and meals and soups, for instance.
Lebanon’s economic collapse continued during 2022, with the deteriorating situation leading to shortages of essential products, including essential medications, and widespread civil unrest, among many other major structural issues.
Lebanon’s deeply rooted infrastructure issues have been severely exacerbated since the onset of the ongoing economic crisis. Power cuts were already a common occurrence in the country.
While the uncertainty that flows from the current adverse economic situation in Lebanon makes it difficult to make accurate predictions about the immediate future for cooking ingredients and meals, it is likely that different categories will react differently to the situation. One certainty is that the current crisis will inevitably last for several years, with a minimum of 5-7 years of extreme hardship likely to lie had for the country’s population.
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Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals industry in Lebanon with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
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Cooking Ingredients and Meals
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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