Processed Meat - Iraq

Iraq

Revenue in the Processed Meat market amounts to US$1.98bn in 2024. The market is expected to grow annually by 1.94% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (US$42bn in 2024).
In relation to total population figures, per person revenues of US$42.97 are generated in 2024.
In the Processed Meat market, volume is expected to amount to 395.40m kg by 2029. The Processed Meat market is expected to show a volume growth of 1.6% in 2025.
The average volume per person in the Processed Meat market is expected to amount to 8.1kg in 2024.

Key regions: India, China, United Kingdom, Spain, South Korea

Market

Region

Region comparison

Currency

Analyst Opinion

The Processed Meat Market in Iraq's Meat Market within The Food market is experiencing minimal growth, influenced by factors such as consumer preference for fresh meats and cultural dietary preferences for non-processed options. Additionally, the high cost of imported processed meats and concerns over food safety also contribute to the slow growth rate.

Customer preferences: The Processed Meat Market within the Meat Market of The Food market is witnessing a rise in demand for plant-based and alternative meat products due to growing health and environmental concerns. Consumers are also gravitating towards ethically sourced and sustainable meat options. This trend is driven by cultural shifts towards more conscious and mindful consumption, especially among younger generations. Additionally, the rise of vegetarian and vegan diets is influencing the demand for processed meat alternatives.

Trends in the market: In Iraq, the Processed Meat Market is experiencing a surge in demand, driven by the increasing popularity of Western-style diets and the growth of the fast food industry. This trend is expected to continue as the country's economy stabilizes and disposable incomes rise. As a result, major players in the market are investing in expanding their production and distribution capacities. This trend is significant as it presents opportunities for industry stakeholders to tap into a growing market and diversify their product offerings. However, it also raises concerns about the potential health implications of increased consumption of processed meat products in a country where obesity and chronic diseases are on the rise. It will be important for industry players to address these concerns and promote healthier options to maintain long-term sustainability in the market.

Local special circumstances: In Iraq, the Processed Meat market faces unique challenges due to the country's political instability and ongoing conflicts. This has resulted in supply chain disruptions and difficulty in sourcing quality meat products. Additionally, cultural preferences for fresh meat over processed options limit the market's potential. Regulatory barriers further hinder market growth, with strict import regulations and limited access to modern packaging technology. These factors contribute to a smaller market size and slower growth compared to other countries in the region.

Underlying macroeconomic factors: The Processed Meat Market of the Meat Market within The Food market is also influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. Countries with stable economic conditions and favorable fiscal policies tend to experience higher market growth compared to regions with economic instability and unfavorable policies. Additionally, the increasing demand for meat products due to population growth and shifting dietary habits in emerging economies is also driving the growth of the Processed Meat Market. However, factors such as rising production costs and stricter regulations on food safety and labeling can hinder market growth in some regions.

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.