Posted On: 2021-11-25
Aluminium cookware acquired the largest revenue share in the Egypt cookware market – 6Wresearch.
The Egypt cookware market witnessed a decline in 2020 as a result of the Covid-19 pandemic. Egypt cookware market is highly dependent on manufacturing and import which got disrupted due to the movement restrictions imposed during the pandemic period. However, recovery is expected by 2022, on account of the Egypt’s government stimulus policies of $6.13 billion package (EGP 100 billion) to mitigate the economic impact of COVID-19.
According to 6Wresearch, Egypt Cookware Market is projected to grow at a CAGR of 6.0% during 2021-2027F. The primary reason for growth in the Egypt cookware industry can be attributed to the rapid urbanization and rising population. Moreover, the initiatives and projects under Egypt Vision 2030 aim to develop several sectors across the country that includes hospitality and residential sectors in the country, thereby boosting urbanization in the country and hence propelling the demand for cookware over the coming years.
In Egypt cookware market, on the basis of product types, pots acquired majority of the revenue share. This is on the account of their multipurpose utility, as variety of dishes can be cooked in pots. On the basis of applications, the residential sector garnered the majority of the market revenue share during the year 2020 and is expected to dominate the market over the coming years as well on account of the rapid expansion of population in the country.
Rising internet penetration in the country would boost the revenues of cookware from online distribution channels in the coming years. In addition, as a part of Egypt Vision 2030 Sustainable Development Strategy (SDS), the Ministry of Communication and Information Technology launched an ICT strategy to support the development of the sector and its contribution to economic growth through initiatives that encourage e-commerce.
According to Anmol Dhanju, Research Analyst, 6Wresearch, “Rising urbanization and population of the country, has fostered the growth of cookware in Egypt during the period 2017-2019.
Further, rising disposable income with rising countries economy, would be the key factors driving the demand for cookware products in the coming future. People moving out of their hometowns in search of jobs would also foster the demand for cookware in the country.”, Anmol further added.
“Egypt Cookware (2021-2027F)” report provides an in-depth analysis with 20 figures and 5 tables, covered in 80 pages. The report estimates and forecast the Egypt Cookware Market by material types, product types, applications, distribution channels and regions. The report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.