5 reasons why you should consider joining the healthy food industry
Healthy food and lifestyle had been booming lately and it’s not just a yesterday’s story its been emerging since the nineties, and in Egypt the discussion started to take place in the early 2000s.
What made healthy food so trendy lately was the increasing of awareness regarding health issues, healthy diet and healthy nutrition. in march 2020 with the pandemic hitting Egypt and the lockdown forcing people to stay more at home and giving up on eating calories bombs, the need for healthy diet and nutrition to boost the immune system was rocketing. in the recap of the year google shares what every country or region have been searching the most during the past year, and it wasn’t a surprise to find that this list included search keywords as Healthy food, diet, keto diet, vegan, vegetarian and calorie counter.
If you’re taking consumer behavior as an indicator here's a huge sign on what you should consider shifting some investment towards.
Based on the research paper by M.Mohamed, A.Shelbay of fayoum university department of agriculture and economics, and G.Chymis of center of planning and economic research Greece, Athens that was published in the third issue of 2012 at the international journal of economics and business modeling, Healthy food and organic agriculture in Egypt was growing.
The research focused on the motives of consumers eating healthy diet, and how were these motives met by farmers and healthy food producers in Egypt.
After running market research techniques and regression modeling the research came to the following findings
1- Eating healthy food first motive was health concerns
2- People are willing to pay extra for organic and healthy nutrition
3- In one year organic farms number in Egypt doubled
4- The main obstacle facing the wellness industry in Egypt is the ability of consumers to pay extra and that's making it harder to move to mass consumption
According to the Global Wellness Institute (GWI), a non-profit research and educational resource for the wellness industry in the US the world economy for the wellness industry is accumulated at 4.5 trillion US dollars and this market is divided to 11 sectors where healthy eating nutrition and losing weight stands for $702b
And according to technavio the British well known market research company mentioned in its latest market research report titled Global Health and Wellness Market 2019-2023
health and wellness food market is poised to grow by USD 235.94 during 2020-2024
the research did cover a lot of aspects as Products which are Naturally Health Food, Functional Food, Bfy Food, Organic Food, Food Intolerance Products, The distribution channels and geographical segmentations.
As the research did look on the whole market contributors it gave a huge indicator that the growth will impact other specialties, which means an investment could also be drove towards the middle of the supply chain.
Health concern drives people towards eating healthier food, but also there are other main contributors as people being vegan or vegetarian or simply just care for the environment.
Big brands realized this growing need and decided to fill it, for example the leading Egyptian brand Juhayna lately launched its new line of products N&G a milk substitute that's more healthier, 100% vegan and for people who care about the environment that's a simple positioning statement that sums it all.
In conclusion Wellness industry is rapidly growing and healthy food is on the top of the rocketing list, and it’s time to take a part in this sector as long as you're going to solve the real issue or challenge which is offering healthier food with a more affordable price.