The
Iraq edible oils market is considerably fragmented, with the top 7
players, namely Marsan Gida San Ve Tic A.S., Anadolu Group, Altunkaya
Group of Companies, Zer Group, Aves A.S., Yildiz Holding, and
Keskinoglu Ic Ve Dis Ticaret Ltd., accounting for close to 90% of the
market in 2016. The strategies adopted by key players in the Iraq
edible oils and fats market are mergers and joint ventures,
investment in research in order to ensure steady development of new
technologies, and subsequent smooth expansion of their product
portfolio.
These seven players are likely to retain a steady dominance over the
Iraq
edible oils and fats market in the coming years. However,
there is significant scope for smaller players in the market. Local
production of edible oils and fats is on the rise in Iraq and is
being encouraged by the government, which is likely to help the
market for edible oils and fats in Iraq by providing an opportunity
for smaller players. Etihad Food Company is one of the leading
emerging companies in the Iraq edible oils and fats market and is
likely to play an important role in the future development of the
market thanks to strong local ties.
According to Transparency Market Research (TMR), the Iraq edible oils
and fats market is expected to rise handsomely in the coming years,
with a 6% CAGR expected between 2016 and 2025. The market’s value
is expected to rise from US$1.3 bn in 2015 to US$2.3 bn by 2025.
PDS Likely to Remain a Key Distribution Channel for Edible Oils
and Fats in Iraq
The Iraq edible oils and fats market is segmented on the basis of
product type into spreadable oils and fats, vegetable and seed oil,
cooking fats, and others. The vegetable and seed oil segment led the
Iraq edible oils and fats market in 2016 and is likely to continue
its dominance throughout the forecast period. This segment is further
broken down into sunflower oil, soybean, corn oil, palm oil, canola
oil, and others, with sunflower oil taking up the lion’s share in
the production of vegetable and seed oils in Iraq. Spreadable oils
and fats in the Iraq market include butter and margarine, with butter
likely to dominate the Iraq edible oils and fats market in the coming
years. Cooking fats include animal ghee and vegetable ghee, the
latter accounting for the major share in the Iraq edible oils and
fats market.
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B2C distribution of edible fats and oils was the dominant
distribution channel in Iraq in 2015 and is expected to retain its
dominance throughout the forecast period. B2C has been further
categorized into the public distribution system (PDS) and others.
Public distribution system (PDS) is a food security system that
ensures the distribution of staple foods, including edible oils and
fats, at a series of fair price shops. Public distribution shops
distribute rations at a reduced price to citizens falling below the
poverty line and are a crucial part of the Iraq edible oils and fats
market.
Baghdad Emerges as Leading Region in Iraq Edible Oils and Fats
Market
The Iraq edible oils and fats market has been segmented on the basis
of region into Babil, Baghdad, Diyala, Basra, Sulaymania, Dhi Qar,
Al-Qadisiyyah, Karbala, Maysan, Muthanna, Najaf, Wasit, Erbil,
Kirkuk, and others. Baghdad has traditionally been the leader in the
edible oils and fats market in Iraq in terms of both revenue and
volume. Baghdad is the capital and the largest city in Iraq and
accounts for 40% of the country’s total GDP, TMR finds. As a
result, its dominance in the Iraq edible oils and fats market is
likely to continue unabated in the coming years.
The high population of Baghdad is the key factor responsible for the
steady growth of the edible oils and fats market in the region. In
terms of volume, the Baghdad edible oils and fats market amounted to
190.9 thousand tons in 2015 and is expected to reach 268.3 thousand
tons by the end of the forecast period, registering an annual growth
rate of 3.5% from 2010 to 2025. Muthanna and Maysan also comprise key
markets for edible oils and fats in Iraq and both are likely to
exhibit a high CAGR between 2016 and 2025.
This review is based on the findings of a TMR report titled “Edible
Oils and Fats Market - Iraq Industry Analysis, Size, Share, Growth,
Trends and Forecast, 2016 - 2024.”
Iraq
Edible Oils and Fats Market, by Product Type
- Vegetable and Seed Oil
- Spreadable Oils and Fats
- Cooking Fats
Iraq
Edible Oils and Fats Market, by Region
- Babil
- Baghdad
- Basra
- Dhi Qar
- Al-Qadisiyyah
- Diyala
- Karbala
- Maysan
- Muthanna
- Najaf
- Wasit
- Erbil
- Kirkuk
- Sulaymania
- Others
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