Fresh Fish - Iraq | Statista Market Forecast

Fresh Fish - Iraq

Iraq

Highlights

Revenue in the Fresh Fish market amounts to US$1.41bn in 2024. The market is expected to grow annually by 7.80% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$57bn in 2024).
In relation to total population figures, per person revenues of US$30.36 are generated in 2024.
In the Fresh Fish market, volume is expected to amount to 90.17m kg by 2029. The Fresh Fish market is expected to show a volume growth of 5.0% in 2025.0.
The average volume per person in the Fresh Fish market is expected to amount to 1.5kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Fish Market in Iraq has seen minimal growth due to factors like limited access to technology, low health awareness among consumers, and lack of convenient online services. Despite this, the market continues to thrive within the larger Food Market, driven by demand for fresh seafood.

Customer preferences: Consumers in the Fresh Fish Market of the Fish & Seafood Market within The Food market are increasingly prioritizing sustainability in their purchasing decisions. With growing concerns about overfishing and environmental impact, consumers are choosing to support local and ethically-sourced fish and seafood. This trend is also driven by a desire for healthier and more natural food options, as consumers become more aware of the benefits of wild-caught and locally-sourced fish. Furthermore, the rise of social media and food bloggers has led to a greater emphasis on visually appealing and Instagram-worthy dishes, driving demand for unique and exotic seafood options.

Trends in the market: In Iraq, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a shift towards sustainable and locally-sourced seafood. This trend is driven by increasing consumer demand for environmentally-friendly products and the government's efforts to regulate overfishing. In addition, there is a growing preference for premium, high-quality seafood among affluent consumers. These trends are expected to continue, creating opportunities for industry stakeholders to diversify their product offerings and cater to changing consumer preferences. However, challenges such as supply chain logistics and pricing may arise, requiring stakeholders to adapt and innovate to remain competitive in the market.

Local special circumstances: In Iraq, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's geographical location and cultural preferences. Being situated along the Persian Gulf, Iraq has a strong demand for fresh seafood, leading to a thriving market for locally caught fish. Additionally, the country's cuisine heavily relies on seafood, with dishes like Masgouf, a traditional Iraqi grilled fish, being a staple in local diets. Furthermore, government regulations on fishing and trade play a significant role in shaping the market, with strict laws on sustainability and quality control. These factors create a unique market dynamic in Iraq, setting it apart from other markets in the region.

Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Iraq is significantly affected by macroeconomic factors such as economic stability, government policies, and international trade agreements. As the country continues to rebuild and stabilize after years of conflict, its economic health and investor confidence are crucial in driving market growth. Fiscal policies and trade agreements, such as tariffs and import/export regulations, also impact the availability and pricing of fresh fish in the market. Moreover, as Iraq's population grows and becomes more affluent, the demand for high-quality and diverse seafood options is expected to increase, creating opportunities for market expansion.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.