Food Trip Egypt announces EGP 150m investment at Food Africa 2023

Daily News Egypt
3 Min Read

At the Food Africa 2023 expo, held from 12 to 14 December at the Egypt International Exhibition Center, Food Trip Egypt, a burgeoning Egyptian snack manufacturer, disclosed a new investment of EGP 150m. The event is graced by the patronage of the Egyptian Ministry of Trade and Industry and the Ministry of Supply and Internal Trade.

Samy ElAnsary, Chairperson and Managing Director of Food Trip Egypt, stated: “Our second consecutive participation at Food Africa is marked by the announcement that we are now exporting to nearly 20 countries, including Palestine, Libya, Saudi Arabia, the UAE, the UK, Canada, and others across the Middle East, Africa, and Europe.”

Established in 2020, Food Trip Egypt has adopted a scientific approach, employing advanced production techniques and insights from extensive market research to identify consumer preferences and market opportunities. The company’s innovative “craft cooking” methods have resulted in snacks with optimal crunch and minimal oil content, introducing distinctive flavors to the market.

ElAnsary added, “Our high-quality products, like ‘SPUDS’ snacks, offer a superior local alternative to imported brands and present significant export potential. This aligns with the Egyptian government’s efforts to promote local industry and reduce imports amidst the global economic crisis and foreign currency challenges.”

In just two years, Food Trip Egypt’s flagship product ‘SPUDS’ has emerged as a competitively priced, high-quality brand in the local market, earning four ISO certifications and other recognitions.

Egypt’s Food Sector Growth

Over the past seven years, Egypt’s food industry has seen a threefold increase in companies, modernization initiatives, and investments totaling €16.3bn. In 2022, the food and beverage sector generated $4.1bn in revenue, contributing to 14% of Egypt’s total exports.

Africa’s Demographic and Economic Outlook

Africa’s population is projected to grow from 1.42 billion in 2022 to approximately 2.5 billion by 2050. The continent is experiencing shifts in consumer behavior due to rising incomes, urbanization, smartphone usage, and a growing interest in health and wellness products, presenting vast opportunities for the food, consumer goods, and packaging industries.

Food Africa 2023 features over 800 exhibitors from 32 countries, with support from the Egyptian Ministries of Trade and Industry and Supply and Internal Trade. The event highlights Egypt and Africa’s commitment to economic and technological advancement, emphasizing the significance of international trade and industry for the region.

The conference also includes panel discussions, live cooking demonstrations, and a focus on sustainability, combating food loss and waste, and presenting the “Sustainability Design Award.”

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