Honey Egypt Market Growth Analysis, Size, Value Share, Global Demand, Leading Players Review and Forecast

Market Analysis: Egypt Honey Market for is foreseen to earn revenues worth USD 26.4 million, while growing at a CAGR of 5.10 percent approximately in the course of the forecast period from 2017 to 2023. High investment in research and development by the manufacturers in the production processes and the discovery of innovative flavors is anticipated to uplift the growth of the honey market in Egypt. Manufacturers are also increasingly focusing on extraction of honey from various flowers to provide uniquely flavored honey to their consumers. Consumer’s inclination towards honey with different flavors is creating product differentiation in the market successfully.
The escalating trend for health conciousness has effectively swayed consumers to substitute artificial sweeteners with natural sweeteners such as honey. Thus, the escalating demand for natural sweeteners from various manufacturing plants is creating a favourable market scenario for the Honey Market in Egypt.
One of the important areas contributing to the expansion of the market is the use of convenient and flexible packaging by manufacturers to draw consumers towards their diverse product offerings. Flexible packaging designs that comprise of pouring spouts, tubes, and microwavable pouches create ease in consuming and disposing of the products with better convenience and portability. Furthermore, improving cost effectiveness of the honey products in Egypt will spur growth of the market considerably in the duration of the forecast period.
Major Key Players Analysis: The well-known companies are following certain strategies to sustain their consumer base and contend with the new players entering in the honey market. The major players in the honey market in Egypt are concentrating on new product launches and on introducing their products in convenient packages to capture a large consumer base. Additionally, they are making efforts to bring in cost-effective products to market. Elnada Bee, Mudga Agriculture & Food Products suppliers, Mahmoud Gomaa Abd El Galil Co, Ahla Honey, Dabur Egypt Ltd., Imtenan, Honey World, and EL Rashidi EL Mizan Confectionery, among others are a few of the noteworthy competitors profiled in the Egypt honey market.
Segmental Analysis: The segmentation of the honey market in Egypt is carried out on the basis of type, packaging and application. On the basis of the type, the market consists of citrus honey, clover honey, wildflower honey, cotton honey, and others. Among the segments, clover honey has the foremost market share with 44.58 percent followed by citrus honey in terms of value. Moreover, in terms of volume, clover honey is foreseen to develop at a CAGR of 4.16 percent due to the incidence of a large clover farms in this region. The application-based segmentation of the market is segmented into personal care products, pharmaceuticals, food & beverages, and others. Among them, the food & beverages segment is anticipated to control the key share of the market of 54.17 percent in terms of volume in the year 2018.
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