The Egypt plant protein market is projected to witness a compound annual growth rate of 10.15% to grow to US$87.638 million by 2026, from US$44.546 million in 2019. Egypt has been witnessing a rising trend in the consumption of plant-based diets as the awareness regarding the health benefits of a plant-based diet has been increasing in the country. This growing trend is anticipated to boost the demand for plant-based protein as well in the country and propel market growth in the coming years. Furthermore, Egypt is one of the leading producers of green pea in the world. As per the report titled "Plant-Based Proteins" by the Asian Development Bank, Egypt ranks fifth globally in the production of green pea and produced 190 thousand metric tonnes of green pea in 2018. The rising inclusion of green pea in food and the rising consumption is expected to propel the growth of the plant protein market in Egypt during the forecast period. Moreover, the rising prevalence of various chronic diseases in Egypt such as diabetes, high blood pressure, cardiovascular diseases, among others is prompting consumers to pay more heed to their diets and eat healthier. This is further expected to boost the demand for plant protein in Egypt during the assessment period.
Raising Awareness Of Health Benefits Of Plant-Based Diet
The Egypt plant protein market is expected to surge in the coming years due to the growing popularity of a plant-based diet in the country as more and more people are now getting aware of its health benefits. The urban population has been increasing in the country over the years. The urban population in the country has increased from 35.503 million in 2010 to 43.782 million in 2020. This is supplementing the growing awareness among the Egyptians regards the nutritional advantages of various foods. Furthermore, the trend of veganism has been on the rise among the elite class in the county, especially in Cairo, the capital and the largest city of Egypt. With the rising penetration of the internet and increased use of smartphones, tablets, and laptops, more and more people, especially the young population, are getting influenced by the global trends which are anticipated to have a positive impact on the plant protein market in Egypt. Moreover, an increasing number of restaurants in Egypt are now are catering towards the plant-based diet. El Torr Restaurants is one such chain of restaurants providing vegan-friendly food in the county. The growing number of such restaurants is also anticipated to boost the growth of the Egypt plant protein market in the coming years.
The outbreak of the SARS-COVID-19 virus had a positive impact on the market. There had been a significant rise in the demand for alternative or plant-based proteins in the country in 2020. The disruption of the country’s food supply chain had been projected as one of the major factors in the surge in the demand for alternative proteins. There has been a significant trend in the number of people opting for healthy and nutritious food and thereby moving towards plant-based proteins. Despite the meat-dominated nation, there has been a rise in the number of novel players adopting a hybrid approach to novel plant-based protein products. Moreover, with the news of the SARS COVID-19 virus having zoonotic origins, there has been an acceleration in the demand for plant-based solutions in the country. With the adoption of increasing social preferences, growth in the online sector, and the rising power of social media promoting the use of plant-based and meat alternative solutions, the market has accelerated at a significant rate. With these developments, the market is expected to maintain a significant surge in growth, during the forecast period.
|Market size value in 2019||US$44.546 million|
|Market size value in 2026||US$87.638 million|
|Growth Rate||CAGR of 10.15% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Source, Form, Application, And Distribution Channel|
|Companies covered||ADM, Cargill, DuPont de Nemours, Inc., Ingredion Incorporated, NOW Foods, Wilmar International Ltd|
|Customization scope||Free report customization with purchase|
Key Market Segments
DuPont de Nemours, Inc.
Wilmar International Ltd
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