Boston, MA -- (SBWIRE) -- 02/12/2014 -- Despite the relative near-term weakness of its food and drink market on account of the wider political and economic situation, Egypt's core demographics continue to offer encouraging prospects for the world's major fast-moving consumer goods companies. Egypt is also arguably the cultural hub of the Arab world and doubles up as an excellent gateway to the wider North African and Sub-Saharan African regions. We believe that no other country in the Arab world can match Egypt's long-term potential, which is why many of the world's largest consumer companies will very likely be increasing, rather than cutting back, their investment in the country.
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Headline Industry Forecasts (local currency)
- 2013 per capita food consumption growth = +10.17% year-on-year (y-o-y); forecast compound annual growth rate (CAGR) to 2017 = +11.42%.
- 2013 alcoholic drinks value sales growth = +18.14% y-o-y; forecast CAGR to 2017 = +17.64%.
- 2013 soft drinks value sales growth = +14.29% y-o-y; forecast CAGR to 2017 = +16.10%.
- 2013 mass grocery retail sales growth = +14.09% y-o-y; forecast CAGR to 2017 =
Key Industry Trends
Nestl? Reaffirms Its Commitment To Egypt Through Investment In Local Production Facilities: In October 2013, Swiss major Nestl? invested US$28.8mn to expand its ice cream factory in Egypt. The company says that the investment, which has increased production capacity through the installation of two new manufacturing lines, among other developments, is designed to help meet increasing demand for Nestl? and Dolce brands and will result in the creation of 200 new jobs. Ice cream produced at the factory is distributed in Egypt, as well as exported to countries including Jordan, Libya, Lebanon and Tunisia.
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