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.
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.
|Study Period||Historical Data: 2018-21|
|Base Year: 2022|
|Forecast Period: 2023-28|
|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.
Key Trends in the Egypt Nutraceuticals Market
With growing consciousness relating to the exceptional perks of nutraceuticals on health, people have shown more inclination towards dietary supplements and functional food products. On top of it, the easy customization of these elements has led to more adoption of nutraceuticals across Egypt. In fact, many consumers are also showing interest in customized offerings, including supplements, diet, & exercise. Moreover, as nutritional supplements are emerging as a crucial intervention in prognostic & proactive health, their demand & acceptance across the nation shall support a steady growth of the nutraceuticals market in the coming years.
Based on Product Type:
Here, Functional Food acquired the largest share of the Egypt Nutraceuticals Market in recent years & is anticipated to prevail in its dominance in the coming years. Of them all, Probiotics Fortified Food is likely to grow at the fastest rate during the forecast period. This growth owes to the rising consumer consciousness pertaining to the availability & perks of consuming functional foods like probiotics to balance health & have better digestion & absorption of nutrients. This behavioral shift, stemming as an after-effect of the Covid-19 pandemic, has positively influenced the sales of such products, thereby driving the Egyptian market through 2027.
Contrary to this, Functional Beverages are expected to contribute substantially to the market expansion with the mounting requirement for Sports Drinks. It owes principally to the growing health consciousness among people, encouraging them to involve in sports activities. This factor, in turn, bolsters the demand for sports drinks, particularly among athletes & fitness enthusiasts.
As such, the demand for nutraceuticals in such functional drinks is escalating and positively influencing the overall market growth. Besides, the millennial generation is among the prominent consumers of sports drinks and is demonstrating high buying capacity with their willingness to pay for health products, alongside their developing interest in sports & fitness activities, thereby augmenting the overall market growth through 2028.
Based on Sales Channel
Here, Online Sales Channel is likely to gain swift momentum, projecting the fastest growth pace in the Egypt Nutraceuticals Market during the forecast period. This expansion owes principally to the active participation of the government in promoting digitalization across the country. As such, prominent companies are willing to make a notable paradigm shift to online sales channels in order to widen their reachability & consumer base for nutraceuticals across Egypt.
Another factor fostering the market growth for nutraceuticals is the increasing internet penetration that has led to the emergence of more online platforms as a prominent source for shopping among people in Egypt. It is why companies are stressing more about the acquisition and mergers regarding these platforms. Moreover, as online channels offer an extensive range of products, different varieties, brands, and budgets, alongside facilities like door-step delivery, easy finances, and exciting deals, among others, the sales of nutraceuticals are set to ramp up and propel the market during the forecast period.
Recent Developments in the Egypt Nutraceuticals Market
Possible Restraint: Notable Side Effects and Associated Higher Cost
Although nutraceuticals offer a range of health benefits, it also has proven instance of side effects. According to the U.S. Food and Drug Administration (FDA), rashes, shortness of breath, diarrhea, severe joint or muscle pain, slurred speech, and blood in the urine are the possible side effects that can result from supplement use. Likewise, the National Institutes of Health’s (NIH) Office of Dietary Supplements observed, the supplements, which do not comply with the same federal approval standards as over-the-counter and prescription drugs, despite their widespread use, contain active ingredients that can have notable effects on the body. The considerable side effects, coupled with the higher cost associated with the product, are likely to pose a threat to the nutraceuticals market and may hinder market growth in the coming years.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Egypt Nutraceuticals Market is projected to grow at a CAGR of around 11.11% during 2023-28.
A. The leading players in the Egypt Nutraceuticals Market are 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, others.
A. ‘Functional Foods’ segment is anticipated to emerge as an area of remunerative opportunities for the leading players in the Egypt Nutraceuticals Market during the forecast period.
A. Intensifying customization of nutraceuticals is the latest trend shaping the growth of the Egypt Nutraceuticals Market during 2023-28.
A. Associated Side effects along with the higher cost of the nutraceutical products are possible restraints affecting the growth of the Egypt Nutraceuticals Market during 2023-28.