According to the report analysis, ‘Egypt Herbs & Spices Market Research Report – Forecast To 2023’ states that some of the major companies which are currently functioning in this sector more actively for defeating the demand of potential purchaser and for acquiring the highest share in the market which includes AL Sharq Spices (Elfayoum, Egypt), Valley Herbs (Al Fayoum, Egypt), International Aromatics S.A.E (Alexandria, Egypt), Herbs Egypt (St. Giza), Green Valley Herbs (Fayoum, Egypt), Aljawhara Herbs & Spices (Fayoum city, Egypt), United for Herbs and Spices (Fayoum city, Egypt), Berlik Spices (Fayoum, Egypt), Calendula Herbs (Fayoum city, Egypt), and Al Ajmi Group for Import & Export (Fayoum city, Egypt). Whereas, the Egyptian Exporters Co., Elmotmiz for herbs, EgyTrade, Farm Herbs and Egy Herbs for Import & export are the major distributors and wholesalers in the Egypt herbs and species market. Moreover, as people have become more health conscious in the recent trend, their awareness of the benefits of dietary supplements is increasing more significantly. The Dietary supplements enable numerous vitamin, fatty acids, mineral and several others. Meanwhile, the dietary supplements compromise various health advantages by strengthening the immune system and also enable anticipation from migraine headaches, arthritis, cold & flu and cholesterol. Moreover, many convenience food producing companies have begun using spices in their food to serve value addition and to result product differentiation from their competitors.
The industry of food, beverages and tobacco is growing more significantly with the growing concern of population related to health. Whereas, in the coming trend the Egypt Herbs and Species market will develop at an incremental pace of development and with the increasing applications of herbs and spices in cosmetics and medicine will lead to the growth of herbs and species market in the reviewed period. Moreover, the key players are doing innovations in processing techniques to develop and improve the production of herbs and species product will boom its rising need across numerous industries. Growing popularity of ethnic and exotic foods, increasing demand for ready-to-use spice/herb blends, and growing demand for dietary supplement products are the major key drivers of this market whereas, the changing climate condition is the major restraint of the growth to this market. Not only has this, fair trade organization, increasing demand from ready-to-eat food manufactures, increasing demand for organic herbs and spices are the healthy opportunities for leading the market growth more actively. Hence in the recent years the market has grown more significantly in Egypt.
On the basis of regional analysis, the Egypt herbs and species market is split into North Africa and South West Asia. Meanwhile, the North America is anticipated to retain its governance throughout the near future. The region is expected to reach USD 100.9 million with recording a CAGR of 3.2%. Among the region of Egypt, the North Africa is expecting the efficient market growth with the proportion of 88.2% in the year of 2018, and the development is expected to pursue during the near future. Whereas, the South West Asia region is anticipated to observe the highest growth rate in the Egypt herbs and species market during the reviewed period. Therefore, in the coming years it is expected that the Egypt herbs and spices market will grow more significantly over the decades.
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Ankur Gupta, Head Marketing & Communications