Egypt Canned Food Market Forecasts from 2023 to 2028

The Egypt canned food market is expected to grow at a compound annual growth rate of 7.13% during the forecast period to reach a market size of US$1,409.101 million in 2028, from US$869.919 million in 2021.

Canned food is preserved in an airtight container to extend the shelf life. They are preferred by consumers due to their convenience, shelf life, nutritional value, and easy-to-cook benefits.

Growth Drivers of the Egypt canned food market

Changing lifestyles, consumer preferences, rapid urbanization, and rising disposable income are further driving the country's market growth. The hectic lifestyle of the people has left them with less time in food preparation, thus working population is shifting towards canned food, especially meat, and seafood products. The rising tourism in Egypt is another major factor for the growing canned food market as tourists prefer convenient and hygienic food. For instance, the number of tourists increased from 8 million in 2021 to 11.7 million in 2022 which is a 46.2% increase from last year according to the Ministry of Tourism and Antiquities, Egypt. Further, government investments to attract more international tourists are also driving the demand for the canned food market in Egypt. For instance, the Ministry of Tourism and Antiquities estimates tourism investments of around EGP 7.4 billion in 2022-23 as compared to EGP 6.2 billion in 2021-22.

Rising Urbanization and Investments

The rising urbanization in Egypt is pushing the demand for canned foods indicating the shifting preference and rise in disposable income. For instance, the urbanization growth rate in Egypt is 42.2% with 42.71% of the population living in urban areas as per the UN-Habitat reports. Urbanization contributes to food demand transformation with people having access to more information, finance, and inputs. The rising investment to increase urbanization in Egypt is further shifting the population's preference for canned food as people get easy access to online and offline stores.

The UN-Habitat invested US$40 billion in Egypt for construction and urbanization between 2014 and 2019. The government of Egypt started the project Egypt 2030 Vision in 2016 which majorly focuses to improve infrastructure and urban areas in the nation. The Egypt government targets to increase the GDP of the urban development sector in 2023 by 16.3% as per the Ministry of Planning and Economic Development. With the rising urban population, the canned food market is anticipated to grow during the forecast period.

Egypt's canned fish/seafood products market

The canned fish/seafood are stored via hermetically sealing which does not allow the air to enter or escape thereby keeping the food thermally processed so that all the spoilage microorganisms can be killed. The seafood processed in this manner is rich in protein, the quality of the meat is intact, and the fish or seafood remains stable at room temperature as well. The increasing urbanization and busy lifestyle of people is giving an edge to canned fish and seafood to grow in the market. As per the World Bank data 31 million people in Egypt are engaged in the workforce.

With the increase in the working-class population, the demand for rich in protein, high quality, and clean fish and seafood is increasing in the Egyptian market. The country is a major consumer and producer of seafood globally; the government of Egypt has set a target of producing three million metric tons of fish by the year 2025.

According to the World Bank, the GDP per capita is increasing in Egypt year on year, the GDP per capita in Egypt was 3,698.8 in the year 2021. The rise in GDP per capita and the increase in urbanization are fueling the canned seafood and fish market in the country. Canned seafood is also gaining importance among the people in Egypt because it is affordable compared to red meat. The longer shelf life of canned seafood is also attributed to be one of the important factors aiding the market growth.

Segmentation:

By Type

• Canned Food/Sea Food
• Canned Meat Products
• Canned Vegetables
• Canned Fruits
• Other Canned Food

By Distribution Channel

• Online
• Offline
• Supermarket/Hypermarket
• Convenience Stores
• Others

By Governorate

• Cairo
• Alexandria
• Suez
• Others