Market Definition
Nutraceutical is a combination of nutrition and pharmaceuticals. It is basically any food or its components that provide medicinal or health benefits, alongside facilitating prevention from chronic disease, offering delayed aging process, and sometimes treating the disease. A nutraceutical comprises nutrient-rich or medicinally active food, such as garlic or soybean. It may also be a specific food component, such as the omega-3 fish oil derived from salmon and other cold-water fish.
Market Insights
The Egypt Nutraceuticals Market is projected to grow at a CAGR of around 11.11% during the forecast period, i.e., 2023-28. The market is predominantly propelled by the increasing awareness of consumers toward the health benefits of nutraceuticals as well as the food & beverages sector, including the nutraceuticals in edible products. Other prominent factors stimulating the demand for nutraceutical products in the country are the strengthening pharmacy and retail sectors, which have led to advancements in product offerings.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| CAGR (2023-2026) | 11.11% |
| Key Companies Profiled | Bayer Middle East FZE, Vitabiotics Ltd, Nestlé Egypt S.A.E, Danone Egypt, BASF FZE, Torrent Pharma, Juhayna Food Industries, NPMT, PepsiCo Inc, Nerhadou International |
| Unit Denominations | USD Million/Billion |
Further, with the high intake of sugary & oily food products, along with comfortable lifestyle adoption, lifestyle-based diseases in the country have become widespread. These diseases include diabetes, blood pressure, cholesterol, cardiovascular diseases, etc., which have been some of the leading causes of death in the country. The rising prevalence of these diseases has called for more dietary supplement needs across Egypt, thereby bolstering the Nutraceuticals Market growth in the coming years.
Moreover, being one of the largest producers of grapes and berries across Africa and the Middle East, Egypt's market has gained traction in the past few years. It is primarily because of the large-scale incorporation of these grapes seeds & leaves and mulberry leaves as plant by-products in the production of nutrient and bioactive compounds. These compounds can be used in innovative and value-added products related to food and pharmaceutical applications. The biological functions of these plants' by-products are responsible for numerous benefits achieved through their integration into functional foods, nutraceuticals, and nutritional therapy.
