During 2022, Iraq’s staple foods market was shaped mainly by rising prices and volatility in the supply of key categories. The Ukraine conflict caused concern among some consumers, although a certain level of stability is being seen in the market despite the impact of higher prices on demand.
Baked goods and rice remain the most important categories of staple foods in virtually all Iraqi households. However, all of the rice consent in Iraq is imported, while a high proportion of baked goods are also imported, especially packaged baked goods.
Bread and rice remain the main sources of starchy carbohydrates among the Iraqi population and these products continue to feature heavily in virtually all main meals. However, per capita of rice and, in particular bread, remain under some pressure as demand patterns are shifting.
While Iraqi society has benefited substantially from the cessation of armed conflict, the country is still undergoing regular major political and economic crises as the country’s leading political parties have singularly failed to form a government for almost a year and this has had a negative effect on demand for staple foods. In particular, economic uncertainty has led many consumers to limit their spending on food, while pressure has come on the supply of many products as numerous investors have withdrawn from the packaged food market for commercial reasons.
The foreign exchange value of the Iraqi dinar against benchmark global currencies has led to rising costs for importers and this has in turn led to steep unit price increases for all imported staple foods. Generally, the supply of all categories of staple foods depends on imports, although local manufacturers have also faced higher costs of imported inputs.
Positive sales growth is expected to be seen across all categories of staple foods over the forecast period, with more moderate increases expected to be seen in mature categories such as rice and baked goods. However, value sales are slated for very dynamic growth and this is mainly because of rising demand for higher-quality food and a wider variety of value-added products.
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Understand the latest market trends and future growth opportunities for the Staple Foods 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 a comprehensive range of core packaged food categories.
If you're in the Staple Foods 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.
NOTE: Couscous, polenta and quinoa are excluded from staple foods.See All of Our Definitions
This report originates from Passport, our Staple Foods research and analysis database.
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