Demand rose across all home care categories in 2023 as population growth, urbanisation and long-term economic development all contributed to a broadly positive performance, other favourable factors included the accelerating pace of life, the shift towards more modern housing and the increasingly Western lifestyle habits of affluent urban dwellers. Nonetheless, exchange rate anomalies suppressed spending power, with private label and local brands benefiting from price sensitivity among consumers.
During 2023, Iraq’s financial systems remained unstable and the fixed rates of interest upon which the rebuilding of the country’s economy previously relied no longer apply. Regardless of the political reasons for such profound changes, the country’s struggles to maintain a functioning financial system has made it very challenging for home care companies to achieve smooth and cost-effective imports, resulting in price instability across all categories of home care.
The positive growth that was seen in sales of home care products in 2023 can be attributed mainly to price drops as the cost of purchasing a wide range of home care products fell in constant price terms over the course of the year. Moreover, there are numerous favourable background trends that are spurring sales growth across all categories of home care, specifically population growth, long-term economic development, rapid urbanisation and changing lifestyles among affluent urban-dwellers.
Iraq’s economy is currently experiencing a phase of positive growth and development, with the high global commodity price of crude oil and strong demand for Iraq’s oil exports since the onset of the Ukraine conflict in February 2022 and the subsequent imposition of global trade sanctions on Russia. However, little of the economic growth that has flowed from this favourable situation has benefited the general population, many of whom continue to live in less than ideal conditions.
Much of Iraq’s public infrastructure is currently in poor condition and with the country’s population consistently increasing, demand for services is currently rising. This has led to the country’s ruling political elite to focus more on providing adequate infrastructure and services.
The general outlook for home care in Iraq over the forecast period is broadly favourable, with steady growth in value and volume terms expected to be seen. While much of the progress slated for the industry is set to remain dependent on global oil prices and the impact of this will have on Iraq’s state revenues, the performance of the local economy and the level of political stability both at home and regionally, the market will nevertheless continue to benefit from the fact that Iraq has one of the world’s youngest and fastest growing populations.
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Understand the latest market trends and future growth opportunities for the Home Care industry in Iraq with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
If you're in the Home Care industry in Iraq, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Home Care
This is the aggregation of laundry care, dishwashing products, surface care, chlorine bleach, toilet care, polishes, air fresheners and insecticides.
See All of Our DefinitionsThis report originates from Passport, our Home Care research and analysis database.
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