Steep unit price growth and socio economic instability influenced sales of dairy products and alternatives in 2022. As foodservice sales rebounded from the COVID-19 pandemic, retail sales rose due to population growth and spreading affluence.
The challenging economic and social conditions that must Iraqis face mean that there choice of dairy products and alternatives tends to be limited by their ability to afford various different products. In particular, imported products tend to be quite high-priced and this includes most products and brands available in baby food.
Baby food and dairy are two categories which are considered essential with virtually all parents of babies, infants and young children depending on milk formula to some extent and a variety of dairy products, including notably powder milk considered essential in most Iraqi homes, including notably plain yoghurt, powder milk and cheese. It is important to note that the use of the formula is expanding among the population of Iraq as fewer mothers depend on breastfeeding.
Iraq has one of the fastest growing and youngest populations in the world, with it having a median age of 21 years in 2022. There is also a large population of babies, infants and young children, with those aged 0-4 years accounting for 13% of the population in 2022.
High inflation and price shocks swept across the Middle East during 2022 and this resulted in much higher costs for the manufacturers and is attributed of dairy products and alternatives. Faced with supply chain problems as a result of these cost pressures, many of the key suppliers in the industry were forced to adopt measures to survive, including changing their product ranges to include more affordable products and looking for more affordable sources of various key raw materials in order to remain competitive.
Dairy products and alternatives is slated for healthy sales growth over the forecast period. This positive performance is expected to be driven by improved distribution to rural areas of the country and greater foreign investment, as well an improvement in consumer income and confidence.
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Dairy Products and Alternatives
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