Recently published research from Business Monitor International, "Egypt Food & Drink Report Q3 2013", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 08/28/2013 -- Despite a short-term weakness, we continue to view Egypt as one of our favourite Middle East and Africa (MEA) markets from the point of view of longer-term opportunities in the food and drink industries,¬ as well as with regard to mass grocery retail. Its large and expanding population will provide a suitable aspirational consumer base for both volume increases and value-based premiumisation. However, we do reiterate that the gloomy shorter-term economic outlook poses downside risks to our forecasts.
Headline Industry Forecasts (local currency)
- 2013 per capita food consumption growth = +10.43% year-on-year (y-o-y); forecast compound annual growth rate (CAGR) to 2017 = +11.52%.
- 2013 alcoholic drinks value sales growth = +18.12% y-o-y; forecast CAGR to 2017 = +17.22%.
- 2013 soft drinks value sales growth = +15.11% y-o-y; forecast CAGR to 2017 = +15.20%.
- 2013 mass grocery retail sales growth = +14.53% y-o-y; forecast CAGR to 2017 = +15.15%.
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Key Industry Trends
Kraft Foods Looking to Expand in Egypt Through Acquisition: In June 2013, Al Mal newspaper, citing unnamed sources, reported that US food company Kraft Foods had submitted a non-binding tender offer to buy Egypt's Bisco Misr, making it the third company to bid for the Cairo-based food manufacturer. Kraft's move is in line with our with that multinationals will continue to expand in emerging markets, targeting their longer-term demographic and economic potential.
Egypt's Metro Attracts Take-Over Bid: In May 2013, Dubai (UAE)-based retail firm Majid Al Futtaim (MAF) reportedly moved closer to buying the Egyptian Metro supermarket chain from family-owned Mansour Group, which owns and operates Metro supermarkets and discount stores under the trade name Kheir Zaman. In the same month, in a move that came as a bit of a surprise, Carrefour sold its 25% stake in its Middle East and North Africa (MENA) joint venture to MAF - its joint venture (JV).
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