Agriculture in Egypt market is projected to grow at a CAGR of 3.2% during the forecast period (2020-2025).
- Egypt is dependent on its wheat supply to run the bread subsidy program, which is estimated to benefit almost 70 million citizens of Egypt’s 90 million population. Increasing number of projects to ensure food security, government initiatives to boost domestic production, and focus on sustainable and green farming are the factors driving the market. However, lack of efficient irrigation facilities, small land farm holdings, heavy dependency on imports, and poor infrastructure are some restraining factors for the market growth.
Key Market Trends
Favorable Government Initiatives to Boost Domestic Production
Agriculture is a vital component of the Egyptian economy. It provides livelihood to about 55% of the population, which is rural to a large extent. The agricultural sector also accounts for about 11% of the country’s gross domestic product (GDP). The government has increased its support toward the development of the agricultural sector by launching a number of campaigns. For instance, the government launched a campaign to boost wheat production in 2017 with the main objective of increasing grain crop productivity per unit area (Faddan) by 15% in three years (2015-2017), to increase grain crop productivity of 18.5 ardebs per acre to about 20 ardebs per Faddan, thus increasing the total production. To build capacity in the private sector, USAID established a regional training center in order to increase and improve the productivity of farmers, laborers, packhouse managers, and buyers. This is further likely to strengthen the importance of agriculture in Egypt.
Increased Focus on Sustainable Agriculture
The Green Economy is progressively being recognized as a significant tool to realize sustainable development in Egypt. The concept is already adopted by several countries around the world. In Egypt, one of the major policy objectives is to achieve sustainable development with an emphasis on employment generation, poverty reduction, social equity, and environmental integrity for various sectors of the economy. The country’s "Sustainable Development Strategy toward 2030" focuses on increasing self-sufficiency with regard to the agricultural products that add much to consumption, such as wheat and maize, with the objective of making the most of the water and land resources in a sustainable way.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support