Despite the widespread economic hardship seen in Egypt during 2019, processed meat and seafood continued to register positive volume growth. Among the main reasons for this is the essential status of processed meat and seafood, with many people regarding these products as an indispensable source of protein and nutrition.
Towards the end of the review period, a substantial shift was seen away from processed meat and seafood and towards fresh seafood and, in particular, fresh meat. The main reason for this is that many consumers are becoming increasingly concerned about the negative health implications of processed red meat.
Processed meat is expected to continue recording positive growth throughout the forecast period as the category represents high levels of convenience for many consumers. With the lifestyles of Egypt’s urban-dwellers becoming increasingly hectic, many households have less time than ever before to prepare meals from scratch using fresh ingredients.
2019 saw Atyab Co maintain its leading position in frozen processed poultry, registering a strong increase in its value share and significantly expanding the gap between it and second-placed Cairo Poultry Processing Co. This has enabled Atyab Co to remain the leading player overall in processed meat and seafood.
Halwani Bros Co Ltd maintained its second-leading position overall in processed meat and seafood and 2019 and this can be attributed to the company’s very strong leading position in chilled processed meat and its significant presence in frozen processed meat. The company continues to benefit from the strong popularity of its wide variety of products and its constant promotion of its product range.
Towards the end of the review period, consumers remained reluctant to purchase processed seafood in large volumes. The main reason is the high unit prices that are charged for seafood, which have become a major liability since the deregulation of the Egyptian pound against major global currencies towards the end of 2017.
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Discover the latest market trends and uncover sources of future market growth for the Processed Meat and Seafood industry in Egypt with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport.