Iraq Edible Oils & Fats Market: Snapshot
The Iraq edible oils and fats market is surging on the back of several favorable factors. Firstly, rising demand for high quality edible oils has led product manufacturers to develop products that have high nutritional content and high smoking points. High quality edible oils are rich in vitamin E, monounsaturated and polyunsaturated fat, and omega-3. The increasing consumption of processed food that are oil based is also fuelling the Iraq edible oils and fats market.
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However, factors such as decades of war and political instability leading to weak economic growth is challenging the growth of this market. Nevertheless, with economic revival and growth of the tourism sector, the Iraq edible oils and fats market is predicted to receive a boost. Considering a number of favorable factors, the Iraq edible oils & fats market is expected to clock a CAGR of 6.0% between 2017 and 2025.
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Vegetable and Seed Oil Product Segment to Remain at Fore
The Iraq edible oils and fats market is segmented on the basis of product type, distribution channel, and region. Depending upon product type, vegetable and seed oil, spreadable oils and fats, cooking fats, and other are the segments into which the Iraq edible oils and fats market is divided. Of them, vegetable and seed oil dominated the overall market in the past years; the segment is predicted to hold the leading share in the near future. The vegetable and seed oil segment is further sub-segmented into soybean, sunflower oil, palm oil, corn oil, and canola oil. Vis-à-vis revenue and volume, sunflower oil is expected to retain dominance through 2025.
Spreadable oils and fats segment is anticipated to display a marked increase in its market share between 2017 and 2025. The spreadable oils and fats segment is bifurcated into butter and margarine; of the two, butter currently holds the leading market share.
Vis-à-vis revenue, cooking fats segment of the market is anticipated to be valued at US$385.0 million by the end of 2025. Cooking fats segment has been bifurcated into animal ghee and vegetable ghee, where the latter holds dominance in terms of both revenue and volume.
In terms of distribution channel, B2B and B2C are the segments into which the Iraq edible oils and fats market is divided. Of the two, B2C leads in terms of revenue contribution to the overall market. The sub-segments of B2B include HoReCa and others. On the other hand, the sub-segments of B2C include PDS and others.
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Substantial GDP Makes Baghdad Leading Region
Region-wise, the Iraq edible oils and fats market has been bifurcated into Babil, Basra, Baghdad, Dhi Qar, Al- Qadisiyyah, Diyala, Maysan, Karbala, Najaf, Muthanna, Wasit, Arbil, Kirkuk, Sulaymania, and others. Baghdad is anticipated to account for the leading revenue contribution to the Iraq edible oils and fats market through 2025. Baghdad being the largest city along with high population and substantial GDP are key factors behind the growth of Baghdad edible oils and fats segment. Sulaymania, Basra, and Babil are other key regions to account for significant share of the Iraq edible oils & fats market.
Leading companies in the Iraq edible oils and fats market to name are Marsan Gida San Ve Tic A.S., Anadolu Group, Aves A.S., Keskinoglu, Altunkaya Group of Companies, Yildiz Holding, and Zer Group among others.
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