The revaluation of the Iraqi dinar in 2023 eased pressure on prices to some degree, providing relief to brand owners in the snacks industry. Nonetheless, importers of major global brands are still struggling as their products remain very expensive and they have limited access to foreign currency.
During 2023, a general lack of structure and various major logistics and business challenges continue to plague Iraq’s snacks market. Many major players are struggling to generate profits, with margins under extreme pressure due to the combination of high operating costs and very low consumer purchasing power.
Demand for snacks continues to increase, with the expanding the range of products on offer and the novelty of many of these products major factors in their rising popularity. While population growth continues to underpin increases in demand for snacks generally, improvements in the economic situation during Iraq’s post-conflict era and the emergence of Western lifestyles have made snacks a much more appealing proposition for Iraq’s emerging urban professional class.
While the consumption of snacks in Iraq has traditionally been connected mainly with children and teenagers, consumption the core consumer base for snacks is broadening as more Iraqis that have grown up consuming products such as savoury snacks and ice cream continue to demand these products into adulthood. In the past, most Iraqi adults were interested mainly in nuts, seeds and trail mixes, a category which faces very stiff competition from unpackaged alternatives.
Rising production costs across due to recent crises in international supply chains and challenges that brand owners face importing products into Iraq and distributing them around the country continue to affect players in all categories of snacks. These issues are exacerbated by the ongoing financial in Iraq, crisis which has left many snacks players struggling to remain profitable, exacerbating the impact of the abovementioned supply chain challenges on the operations of category players.
Robust sales growth is expected in snacks over the forecast period, with population growth, rising income levels and improvements in the distribution of snacks for expected to contribute to positive sales growth. Furthermore, the youth of Iraq’s population and the substantial numbers of young people living in the country are set to prove crucial, with younger generations set to remain the highest per capita consumers of snacks on a daily basis.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Snacks 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 Snacks 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.
Snacks
This report originates from Passport, our Snacks research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!