Sunaina Rana / Emirates Business
As the region gears up for the 21st edition of Gulfood, Egyptâ€™s food and beverage industry is all set to showcase and promote its halal products. Around 167 Egyptian companies are expected to participatein the event, which is scheduled from February 21-25, at Dubai World Trade Centre.
â€œWith more than 85,000 food and beverage, wholesale, retail, distribution and hospitality professionals from five continents participating at this yearâ€™s show, Gulfood represents an unrivalled opportunity for Egyptian food producers to meet, network and trade with potential partners that can place leading Egyptian products in supermarket shelves and restaurant tables across the middle east, GCCand beyond,â€ said Trixie LohMirmand, Senior Vice President, Exhibitions & Events Management, DWTC, while talking to Emirates Business.
Egyptâ€™s food industry contributes around 14 percent of GDP and is ranked the third among the most important sectors. Between 2010 and 2014, it was recorded that Egyptâ€™s vegetables export reached US $1.2 billion and accounted for 4.6 percent of all exports while those of fruits and nuts jumped to US $1.1 billion and represented 3.9 percent of export totals. In the year 2014, Egypt shipped US $26.8 billion worth goods worldwide with vegetables, fruits and nuts and earning a place among the countryâ€™s top five exports.
Meat and seafood preparations are one of Egyptâ€™s rapidly growing export categories soaring 805 percent between 2010 and 2014 to reach US $8.8 million. Other than that cocoa export is also catching up pace with rising up to 238 percent over the same period to US $148.5 million.
According to LohMirmand, â€œEgypt being a Muslim country, well trusted internationally and well versed in Halal preparation, the country stands to gain significantly from the global upsurge in halal food product demand which is expected to grow to a US $2,537 billion market by 2019 and account for 21.2 percent of global food expenditure.â€
However the most of the exhibitors from the Egypt region would be primarily emphasising on establishing new associations and making connections for their future export potential, also they would aim to make relations with the international equipment suppliers.
BMI Research has declared a strong forecast for Egyptâ€™s food and beverage industry even after considering the high inflation charges. â€˜Continued investment by multinational corporations into Egypt’s food and drinks industry bolsters our view that the country presents robust growth opportunities,â€™ it reveals.
According to BMI forecast the total food consumption will account for a compound annual growth of 11 percent until 2019 with per capital food consumption growing just over 9 percent over the same period.