Egypt Honey Market Outlook
The global Egypt honey market reached a valuation of USD 19 million in 2017 and is anticipated to reach a total valuation of USD 26 million during the forecast period.
The role of innovative packaging iS in improving the market's revenue-generating capacity is clearly noticeable. Great growth opportunities for honey have been found in the pharmaceutical and personal care sector, which increases honey consumption in this region. The growing trend toward health has led consumers to replace artificial sweeteners with natural sweeteners such as honey. Thus, the growing demand for natural sweeteners from different factories creates a favorable scenario for the Egyptian honey market.
Honey consumption in Egypt has increased due to the growing awareness of the health benefits of the product. In addition, honey has a long origin in the country and is traditionally used in various home remedies and wellness products. The country's demand for dried honey is partly due to its intensive use in the manufacture of other end products such as desserts, cosmetics, and toiletries. Honey is a natural product with no side effects, making it a highly marketable product in both raw and processed form.
The driver of the market is the use of convenient and flexible packaging by manufacturers to attract consumers to their diverse product range. Flexible packaging, including microwave nozzles, tubes, and bags, makes it easier and easier to use and dispose of products. In addition, improving the profitability of honey-based products in Egypt will significantly stimulate market growth over the forecast period.
Market Segmentation
The Egyptian honey market is segmented by type, application, and packaging.
On the basis of type, the market is classified into clover honey, citrus honey, cotton honey, wildflower honey, and so on. Of these, the clover segment has a 44.58% market share in value and is expected to achieve significant growth in the compound annual growth rate over the forecast period due to the strong presence of farms clover in the area.
The market is segmented by application in the food and beverage, personal care, pharmaceutical, and other industries. The food and beverage sector is a leading segment, with over 50% of the total market share. At the same time, the personal care product segment is expected to experience exceptional growth (CAGR) due to the demand for personal care products containing honey as an active ingredient due to the widespread use of honey in home remedies in the region.
By packaging, the market is bifurcated into the bottle, tubes, jars, barrels, and others. The cylinder segment is considered to be the most important segment and is expected to have a CAGR of 5.38% over the forecast period.
Major Players
The honey market in Egypt is driven by various leading players with their diverse product offerings. Some of these players include Imtenan, EL Rashidi El Mizan Confectionery, Honey World, Ahla Honey, Mudga Agriculture Food Products suppliers, Dabur Egypt Ltd, Mahmoud Gomaa Abd El Galil Co, Ahla Honey, and Elnada Bee.
Recent Updates
At the 46th World Beekeeping Awards (WBA) held in Canada, Cypriot honey Tziverti was honored with the first prize. The thyme honey Tziverti represented Cyprus and was awarded a gold medal this year’s Palais des Congrès in Montreal.
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