Ready meals experienced a sharp decline in demand in 2019 as consumers abandoned these products due to the widespread financial hardship caused by the rising cost of living. With household finances under extreme pressure, most people have curbed their spending on non-essential products to the absolute minimum.
During 2019, frozen ready meals and frozen pizza were the only categories present in ready meals in Egypt. These categories have emerged strongly due to the superior convenience they offer, particular for busy professional women.
At the end of the review period, ready meals in Egypt remained a category at an incipient stage of development. Demand remains immature and the range of products on offer remains very limited.
Sunbulah Group remained the leading player in ready meals in 2019 due to its dominant position in frozen pizza. The second -ranked player in ready meals, King M For Food Products, is also in second position in frozen pizza.
The high prices charged for frozen pizza mean that both Sunbulah Group and King M For Food Products focus their distribution, promotion and marketing on capturing demand among a relatively narrow consumer base. This consumer base comprises affluent urban-dwellers, predominately busy professionals who lack the time to prepare their own home cooked meals and scratch.
The leading players of frozen ready meals are likely to continue struggling during the forecast period, not least due to the consistent increases being seen in the operating costs at a time of very high inflation Egypt. Ongoing aggressive economic reform has resulted in sharp increases in the cost of manufacturing and distribution of these products.
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This industry report originates from Passport, our Packaged Food market research database.