(Agence Ecofin) – The confectionery market represents one of the main segments of the global food industry. In Egypt, the favorable outlook for the sector at the local level provides a favorable environment for private investments.
In Egypt, the local subsidiary of the American agri-food group Mars, specializing in confectionery, plans to invest $250 million over the next 18 months to increase the processing capacity of its unit based in the city of 6 October. This was revealed by Osama Hellal, director of the factory on May 23.
According to the manager, this envelope will be used to finance the installation of 2 new manufacturing lines to bring the annual production capacity to 40,000 tonnes in the long term compared to a level currently standing at 25,000 tonnes.
“We currently have 6 production lines and manufacture around 150 different product lines. The planned expansion will bring 15 new product types to the local market by early 2025», adds Mr. Hellal. This company’s approach should be taken into account in a context where the confectionery market is expected to see continued growth over the coming years.
According to data compiled by the Statista platform, confectionery sales are expected to generate nearly $3 billion in the land of the pharaohs in 2024, with average growth forecast to be 5.56% per year until 2028. From Egypt, the local subsidiary of the Mars group also exports its products to more than 40 countries in Africa, the Middle East and Europe.
Stéphanas Assocle
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