Soft Drinks - Iraq

The Soft Drinks market in Iraq has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in Iraq have shifted towards healthier beverage options, with a growing demand for natural and low-sugar drinks. This trend is in line with global consumer preferences, as people become more health-conscious and seek out products that align with their wellness goals. As a result, soft drink companies in Iraq have been introducing new product lines and reformulating existing ones to cater to this demand. Additionally, there has been a rising interest in functional beverages, such as energy drinks and sports drinks, as consumers look for products that provide added benefits beyond hydration. Trends in the Soft Drinks market in Iraq also reflect the country's unique cultural and economic landscape. Iraq has a young population, with a significant portion of the population under the age of 30. This demographic trend has contributed to the growing demand for soft drinks, as young consumers are more likely to consume these beverages. Furthermore, the country's hot climate and high temperatures throughout the year create a favorable environment for the consumption of soft drinks and other refreshing beverages. Local special circumstances in Iraq have also played a role in the development of the Soft Drinks market. The country has undergone significant political and economic changes in recent years, which have had an impact on consumer behavior and spending patterns. As the country stabilizes and the economy improves, consumers have more disposable income to spend on non-essential products like soft drinks. This has led to an increase in overall consumption and a broader range of soft drink options available in the market. Underlying macroeconomic factors have also contributed to the growth of the Soft Drinks market in Iraq. The country's GDP has been steadily increasing, driven by oil exports and infrastructure development. This has led to an overall improvement in living standards and an increase in consumer spending power. As a result, more consumers are able to afford soft drinks, leading to higher sales and market growth. In conclusion, the Soft Drinks market in Iraq is experiencing growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The demand for healthier and functional beverages, along with the country's young population and favorable climate, have contributed to the market's development. Additionally, as Iraq's economy improves and consumer spending power increases, the market is expected to continue growing in the coming years.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

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 (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level 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 Non-Alcoholic Drinks 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.