Egypt Soy Protein Market- Size, Trends, Competitive Analysis and Forecasts (2022-2027)

Egypt Soy Protein Market to be worth $153 million by 2027

Egypt is among the fastest-growing nations in Africa in terms of economic development. The GDP of Egypt has recorded a considerable rise in the last decades, and many experts believe that it is emerging as one of the most attractive markets in the region. The protein industry in Egypt is in an initial phase of development. The awareness about the health advantages of protein is very low among the population. Egypt's market share of soy protein accounts for 21% of the African soy protein industry. Growing income level of population, a rapid rise in infrastructure development, and industrialization are some factors that will aid the soy protein market to develop rapidly in coming years. The soy protein market revenue in the country is estimated at $109.8 million in 2021. Considering the economic forecast of the country, the soy protein market is estimated to attain the value of $153.1 million by 2027, growing at a CAGR of 5.7% from 2022 to 2027.

Major demand driving factor of the soy protein market is rising awareness about the advantages of protein-based products among the high-income population. The population falling in the high-income class is increasingly aware of the health issues caused by high fat-containing meat products. Hence, such a population is giving up meat and adopting vegetarian and vegan products in their daily diets. Another driver is the growing demand for supplement products among well-off youngsters. Since protein plays a major role in muscles growth and bodybuilding, the demand for soy protein powders, protein bars, and other products is rising steadily. The beverage industry has recorded a considerable rise in the last decade due to growing awareness about various drinks such as flavored water, carbonated water, protein drinks, juices etc. An increase in consumption of beverage products in the country has resulted in the growing application of soy protein in various beverage products.

Even though the soy protein market is highly attractive in the country, some constraints would restrict the soy protein market. The infrastructure development of Egypt in the country is less appealing for foreign soy protein manufacturers to enter the market. Moreover, the substitute protein market, such as whey protein and wheat protein, are highly used in the dietary supplement and food industry. However, the supplement industry is one of Egypt's most attractive industry segments, which will provide a high opportunity for the local soy protein manufacturers to capture most of the initial market share.

Key Deliverables

• Market trends since 2018 and five year forecasts of market growth
• Detailed analysis of the micro and macro elements influencing demand trends
• Identifying opportunity spaces across segments
• Supply & demand side trend and analysis
• Price trend analysis, investment prospects, and competition pattern
• Insights on the growth potential of the market
• Detailed analysis of major producers covering financial investments & strategies adopted
• Competitive landscape of the industry