Fresh Seafood - Iraq

Iraq

Highlights

Revenue in the Fresh Seafood market amounts to US$757.50m in 2024. The market is expected to grow annually by 7.57% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$12bn in 2024).
In relation to total population figures, per person revenues of US$16.28 are generated in 2024.
In the Fresh Seafood market, volume is expected to amount to 27.43m kg by 2029. The Fresh Seafood market is expected to show a volume growth of 6.5% in 2025.0.
The average volume per person in the Fresh Seafood market is expected to amount to 0.5kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Seafood Market in Iraq is experiencing minimal growth, impacted by various factors such as limited access to technology, lack of health awareness among consumers, and limited availability of online seafood services. Despite this, the market is still expected to grow due to increasing demand for fresh seafood in the region.

Customer preferences: As consumers in Iraq become more health-conscious, there has been a noticeable shift towards fresh seafood in the Fish & Seafood Market. This can be attributed to the country's coastal location and cultural preference for seafood. The demand for sustainably sourced and locally caught seafood has also increased, driven by a growing awareness of environmental issues. Additionally, with the rise of social media and online shopping, there has been a surge in e-commerce platforms offering fresh seafood delivery, catering to the busy and convenience-seeking lifestyles of modern consumers.

Trends in the market: In Iraq, the Fresh Seafood Market is seeing a surge in demand for locally sourced seafood due to rising health concerns and a desire for fresher products. This trend is expected to continue as consumers become more health-conscious and seek out sustainable options. In addition, the market is shifting towards online sales, with the rise of e-commerce platforms making it easier for consumers to purchase fresh seafood from the comfort of their own homes. These trends have significant implications for industry stakeholders, as they must adapt to changing consumer preferences and invest in online platforms to remain competitive in the market. Failure to do so could result in loss of market share and revenue.

Local special circumstances: In Iraq, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's location and cultural preferences. As a landlocked country, Iraq relies on imports for its seafood supply, leading to high prices and limited availability. Additionally, Islamic dietary restrictions play a significant role in the types of seafood consumed, with a preference for fish over shellfish. These factors contribute to a unique market dynamic that sets it apart from other seafood markets.

Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market is impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The market performance is influenced by the overall economic stability of the country, as well as its trade policies and regulations on imported seafood. Additionally, the growing demand for healthy and sustainable food options is driving the growth of the fresh seafood market, as consumers become more conscious of their food choices. Moreover, the increasing disposable income and changing dietary preferences of consumers in Iraq are also contributing to the growth of the market.

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.