Food Trip Egypt Unveils EGP 150 M Investments for Business Expansion at Food Africa 2023
Food Trip Egypt, a rapidly expanding Egyptian manufacturer of high-quality snacks, revealed new investments of EGP 150 million in Food Africa 2023, taking place from December 12 to 14, 2023, at the Egypt International Exhibition Center, under the esteemed patronage of the Egyptian Ministry of Trade and Industry and the Ministry of Supply and Internal Trade.
Samy ElAnsary, Chairman & Managing Director at Food Trip Egypt, expressed: “As we participate in Food Africa for the second consecutive year, we are excited to share that we are actively exporting to close to 20 countries, such as Palestine, Libya, Saudi Arabia, the UAE, the UK, Canada, and various other nations across the Middle East, Africa and Europe. ”
Since its establishment in 2020, Food Trip Egypt has pursued a scientific approach, integrating cutting-edge production methods and expertise. Extensive market research has been pivotal in identifying consumer insights and market gaps, shaping the company’s approach and decision-making process. Embracing “craft cooking” innovation, the company has achieved the crunchiest taste with the least oil content, using high-tech machinery and a refined production process, while introducing unique flavors to the market.
ElAnsary concluded: “Egyptian high-quality products (as Spuds in snacks) provide local consumer with better alternative to imported brands, also have an ideal opportunity to unlock export opportunities. This is particularly crucial as the Egyptian government has been actively working to expand industry localization across various sectors and reduce imports to mitigate the impact of the ongoing global economic crisis and the country’s severe foreign currency constraints.”
Despite only being in production for two years, Food Trip Egypt has successfully positioned its debut product, ‘SPUDS’, as the high-quality brand available at competitive prices in the local market. The product has gained acclaim for its exceptional quality, attaining four ISO certifications among other accolades.
Egypt Food Sector in Numbers
The rapid development of the Egyptian food industry over the past seven years: Tripled the number of companies, extensive modernization efforts, and €16.3 billion in investments. The Egyptian market for food and beverages generated $4.1 billion in revenue in 2022, accounting for a promising 14% of the country’s total exports.
Africa in Numbers
The population of Africa will grow from 1.42 billion people in 2022 to approximately 2.5 billion people by 2050 (source: Africon). Africa is facing a significant change in consumer habits, caused by a rise in average incomes, growing urbanization, increased use of smart phones and a rising demand for health and wellness products – great opportunities for the food industry, manufacturers of consumer goods and the packaging industry.
Food Africa 2023 hosts more than 800 exhibitors from 32 countries. The trade fair is supported by the Egyptian Ministry for Trade and Industry and by the Ministry for Supply and Internal Trade, which underscore the efforts undertaken by Egypt and Africa as a whole for economic growth and technological progress, as well as the importance of international trade and industry for the region.
The conference also focuses on panel discussions, live cooking shows and sustainability and the fight against food loss and waste – offering “Sustainability Design Award”.
