Edible Oils and Fats Market Overview 2024-2032: Estimated Market Size, Major Drivers and Lucrative Segments – By The Business Research Company

Wilmington, United States, 2024-Mar-01 — /EPR Network/ —

The Iraq edible oils and fats market is experiencing a robust surge, driven by various favorable factors such as increasing demand for high-quality edible oils, expanding consumption of processed oil-based foods, and a rising inclination towards healthy food intake. Despite challenges posed by decades of war and political instability, the market is poised for significant growth, with the potential for a CAGR of 6.0% between 2017 and 2025. Let’s delve deeper into the factors shaping the market landscape and the opportunities that lie ahead.

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Key Players and Market Developments

Leading companies in the Iraq edible oils and fats market to name are Marsan Gida San Ve Tic A.S., Anadolu Group, Aves A.S., Keskinoglu, Altunkaya Group of Companies, Yildiz Holding, and Zer Group among others.

Dominance of Vegetable and Seed Oils:

The Iraq edible oils and fats market is segmented based on product type, with vegetable and seed oils holding a dominant position. Within this segment, sunflower oil is expected to retain its lead in terms of revenue and volume, driven by its high nutritional content and versatile applications. Additionally, spreadable oils and fats, particularly butter and margarine, are anticipated to witness a notable increase in market share, reflecting changing consumer preferences towards convenience and taste.

Distribution Channels and Regional Dynamics:

In terms of distribution channels, both B2B and B2C segments play significant roles, with B2C leading in revenue contribution. Baghdad emerges as the leading region in the market, attributed to its large population, substantial GDP, and high demand for edible oils and fats. Other key regions contributing to market growth include Sulaymania, Basra, and Babil.

Influence of Healthy Lifestyle Trends:

The rise in consumer inclination towards adopting a healthy lifestyle is a major driver for market expansion. Consumers are increasingly seeking edible oils with high nutritional value, rich in omega-3, polyunsaturated fatty acids, and vitamin E. To meet this demand, major companies in the sector are investing in research and development to enhance the quality and nutritional value of their products.

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Opportunities in Tourism Sector Development:

The growth of the tourism sector presents significant opportunities for the Iraq edible oils and fats market. Despite challenges stemming from political instability, Iraq has the potential to emerge as a global tourist destination. As leisure tourism gains momentum, albeit gradually, it is expected to indirectly benefit the market by driving demand for food products, including oil-based preparations.

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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