Iraq’s demand for dairy products likely to rise at a CAGR of 8% by 2025, notes Frost & Sullivan’s Foods Practice
Dubai, United Arab Emirates-Wednesday 26 September 2018 [ AETOS Wire ]
The
dairy industry in Iraq holds lucrative prospects for global players and
investors as a result of post war, growing population and new economic
reforms. The country’s GDP and household disposable income is expected
to grow at CAGR of 6% between 2018 and 2025. High percentage of the
youth population is one of the economic strengths of the country, and
with almost 60% of the population under the age of 25, Iraq is uniquely
positioned to harness the potential of its young generation to promote
prosperity despite the multiple challenges it faces.A recent study conducted by Frost & Sullivan, Dairy Perception and Opportunities in Iraq, estimated that the demand for dairy products in the country is likely to rise at a CAGR of 8% by 2025.
For more information on this analysis and to access the infographics, click here.
“In the post war era, the demand for dairy products is expected to grow, with supporting plans by large international organization such as UNDP, UNIDO, World Bank, IMF, USAID, FAO and WHO. It is estimated that the average per capita consumption of dairy products will increase from 52 liters to above 60 liters within the next 3 years and then to over 90 liters by 2025,” commented Mr. Ali Mirmohammad, Senior Consultant & Business Development Manager at Frost & Sullivan.
Iraq holds immense business opportunities for market participants, especially international players, with advanced technology upgrades that will help to expand the sector and enhance productivity. Moreover, local companies seek to partner with global companies to benefit from their best practices in the dairy industry.
“The dairy market in Iraq opens up more than 4 billion investment opportunities in cattle breeding farms, and plant management to improve production capacity, storage and distribution logistics , utility and transportation facilities , technology upgrading as well as retailing,” added Mirmohammad.
Iraq’s dairy market is highly import-dependent as the country’s local manufacturers are only able to meet less than 10% of the domestic demand. Moreover, the country is also among the biggest importers of powdered milk in the Middle East to produce reconstituted milk as it contributes to 75% of the country’s market.
Increasing population and urbanisation combined with limited best practices among local players in the industry make the Iraqi dairy industry a booming opportunity for international players and investors.
Frost & Sullivan recently came out with a thought leadership document titled “Growth Opportunities for the Iraq Packaged Foods Market” that discusses the packaged foods market in Iraq, market drivers, opportunities for global players, challenges, government initiatives in the development of this sector, and more. Click here to view the press release of this analysis.
If you are interested in gaining more information on Iraq’s dairy market and speaking with our experts, please feel free to get in touch with me at achandhoke@frost.com.
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