Iraq
Edible Oils and Fats Market: Trends and Opportunities
Edible
oils, also known as consumable oils form an imperative part of the
cooking process since these are used for frying, baking and other
forms of cooking. Additionally, edible oils also find application in
non food purposes as well such as manufacturing of washing powders,
personal care products, soaps and bio-fuels.
Increasing
demand for high quality edible
oils is the primary factor
pushing the growth of the market in Iraq. Over time, consumers have
become extremely conscious about their health and about maintaining a
healthy and active lifestyle. Due this factor consumers are shifting
their focus towards the consumption of high quality edible oils. This
factor has led the major manufacturers operating in this field to
resort to extensive research and development activities in order to
manufacture high quality edible oils that would cater to the health
requirements of the consumers. High quality edible oils include high
amounts of vitamin E, mono-unsaturated and poly-unsaturated fatty
acids (MUFA’s and PUFA’s) and Omega 3. Further, high quality
edible oils have a high smoking point which means they can retain
their nutritional contents at higher temperatures.
However,
the current economic and political condition of Iraq is a major
factor hindering the growth of the edible oils market. Decline in the
economic activity, balance of payments and public finance is a direct
result of the current political condition in Iraq. Further, the GDP
of Iraq has witnessed a sharp decline between 2014 and 2015 due to
the political and economic instability. Moreover, the non oil economy
in Iraq has seen a sharp decline between 2014 and 2015. These factors
are barring the growth of the edible oils and fats market in Iraq,
but the impact of this restraint is likely to reduce by the end of
the forecast period.
However,
the switch to local production of edible oils and fats is likely to
pose as a suitable opportunity for the growth of the market in the
future. Companies such as
Aves A.S. and Etihad Food Industries are expected to open their
edible oil refineries in Iraq, which is expected to increase the
local production of edible oils and fats in the country. Further, the
Iraqi trade ministry is taking the initiative to re-furbish some of
the old factories of edible oils and fats in order to make them fully
operational. This is expected to reduce the country’s dependency on
imported products thus enabling the consumers to buy high quality
edible oils at an affordable price, thereby boosting the demand for
the edible oils and fats industry in Iraq.
For
more information on this report, fill the form @
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=14888
Iraq
Edible Oils and Fats Market: Segmentation
The
market has been bifurcated on the basis of product types into
vegetable and seed oil, spreadable oils and fats, cooking fats and
others. Vegetable and seed oil dominated the market and is expected
to continue dominating the market throughout the forecast period.
Vegetable and seed oils have been further bifurcated into sunflower
oil, soybean, corn oil, palm oil, canola oil and others. Sunflower
oil dominated the vegetable and seed oils segment and is expected to
continue dominating throughout the forecast period. Spreadable oils
and fats have been bifurcated into butter and margarine. Butter
dominated this segment and is anticipated to continue dominating this
segment throughout the forecast period. Cooking fats have been
bifurcated into animal ghee and vegetable ghee. Vegetable ghee
accounted for the largest market share.
By
distribution channel, B2C held the major market share in 2015 and is
expected retain market dominance throughout the forecast period. B2C
has been further bifurcated into pubic distribution system (PDS)
scheme and others. Public distribution system (PDS) is a food
security system which involves the distribution of staple foods such
as wheat, edible oil and fats, rice, sugar and kerosene among others
through a series of ration shops (also known as fair price shops).
Public distribution shops distribute rations at a reduced price to
the residents falling in the BPL (Below Poverty Line) level. The B2B
segment has been bifurcated into HoReCa and others.
The
edible oils and fats market in Iraq has been bifurcated on the basis
of region into Babil, Baghdad, Basra, Dhi Qar, Al- Qadisiyyah,
Diyala, Karbala, Maysan, Muthanna, Najaf, Wasit, Erbil, Kirkuk,
Sulaymania and others. Baghdad held the maximum market share. Baghdad
is the largest city in Iraq and accounts for 40% of the total GDP of
Iraq.
Iraq
Edible Oils and Fats Market: Competitive Landscape
The
edible oils and fats market in Iraq is marked by some intense
competition from some of the major players operating in this market.
The companies operating in this field are engaged in extensive
research and development activities to bring out new offerings for
its customers. Further, mergers and acquisitions, geographical
expansions, joint ventures and partnerships are some of the key
strategies adopted by these players to sustain in this market. Marsan
Gida San Ve Tic A.S., Anadolu Group, Zer Group, Altunkaya Group of
Companies, Aves A.S. are some of the key players operating in this
market.
Iraq
Edible Oils and Fats Market: Scope and Methodology
The
report has been segmented by product type, and region and it includes
drivers, restraints and opportunities (DRO’s), impacting the edible
oils and fats market. The study highlights current market trends and
provides forecasts from 2016 to 2025 with 2015 as base year. Further,
historical data has been provided from 2010 to 2014. Additional
analyses include local production, import and export, and price
trends. We have featured the current market scenario for the Iraq
edible oils and fats market and identified future trends that will
impact demand for edible oils and fats during the forecast period.
No comments:
Post a Comment