Food - Iraq

Iraq

Revenue in the Food market amounts to US$36.76bn in 2024. The market is expected to grow annually by 5.27% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$6.21bn in 2024.
In global comparison, most revenue is generated in China (US$1,601bn in 2024).
In relation to total population figures, per person revenues of US$798.30 are generated in 2024.
In the Food market, 2.2% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 11.76bn kg by 2029. The Food market is expected to show a volume growth of 4.4% in 2025.
The average volume per person in the Food market is expected to amount to 216.40kg in 2024.

Key regions: United States, Canada, China, India, South Korea

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included. The out-of-home revenue data is only shown as a separate box at the market level.

For more information on the displayed data, click the info button on the right side of each box.

Market

Region

Region comparison

Currency

Analyst Opinion

The Food market in Iraq has been experiencing minimal growth, influenced by factors such as unstable political climate, limited access to modern technologies, and low consumer purchasing power. However, the sub-markets of Dairy Products & Eggs, Meat, Fish & Seafood, and Vegetables hold potential for growth due to increasing demand for healthier and locally-sourced options. The market is also impacted by the ongoing conflict, which affects production and supply chains.

Customer preferences: As consumer awareness of the environmental impact of food production grows, there has been a rise in demand for sustainable and ethically-sourced food products in The Food market market. This trend is driven by a growing concern for the planet and a desire for transparency in the food supply chain. Additionally, there has been an increase in demand for plant-based and vegetarian options, as more individuals adopt a flexitarian or vegan diet for health or ethical reasons. This shift towards conscious consumption is also reflected in the emphasis placed on locally-sourced and organic ingredients in restaurants and food stores.

Trends in the market: In The Food market industry in Iraq, there is a current trend of increasing demand for locally sourced and organic products. This trend is driven by a growing focus on health and sustainability, with consumers becoming more conscious of the environmental and health impacts of their food choices. Additionally, there is a rise in online food delivery services, as well as the use of social media to promote and sell food products. These trends are significant because they reflect a shift towards healthier and more sustainable food options, and have implications for industry stakeholders such as farmers, retailers, and food producers. This trend is expected to continue in the future, with potential implications for the overall food industry in Iraq.

Local special circumstances: In Iraq, The Food market is heavily influenced by the country's political and economic situation. The ongoing conflict in the region has resulted in limited access to food supplies and high prices for basic necessities, leading to a rise in demand for locally-produced food products. Additionally, cultural preferences and dietary habits also play a significant role in shaping the market, with traditional dishes and ingredients remaining popular among consumers. The regulatory landscape is also a crucial factor, as the government's policies on food imports and exports can greatly impact the availability and cost of certain products. These unique factors make The Food market in Iraq distinct from other markets and require careful consideration when developing business strategies.

Underlying macroeconomic factors: The performance of The Food market in Iraq is heavily influenced by macroeconomic factors such as the country's economic stability, government policies, and global economic trends. The economic health of Iraq, as well as its fiscal policies, play a crucial role in determining the success of The Food market. Additionally, factors such as inflation, exchange rates, and overall consumer spending also impact the market's performance. Moreover, the recent political and social unrest in the country has also had a significant impact on The Food market, affecting consumer confidence and overall market demand.

Methodology

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.