(Food-Beverage-News.Com, January 15, 2022 ) Iraq Dairy Products Market size is estimated to reach $400.3 million by 2026, growing at a CAGR of 5.7% over 2021-2026. Dairy products are considered as important part of diet as they contains nutrients as well as variety of essential vitamins and minerals. In modern society, the consumption of dairy based products is very essential to fulfill the nutritional value. Dairy products contains isotopes of calcium which is very helpful to increase the strength of bones as calcium is considered as messenger in various cell signalling pathways. In dairy products, skimmed milk powder is used as ingredient that is made by evaporation water from the milk which is pasteurized. Lactose free milk products includes lactase which is a kind of enzyme that helps to break down lactose and is helpful for those who are suffering from lactose intolerance. Dairy product contains yogurt which provides various health benefits and also provides protein and calcium. According to Food and Agriculture Organization, dairy industry is considered among the most heavily regulated agricultural industry which increases the production of dairy and thus rising the demand. Rising consciousness about health among consumers increasing the need of dairy based products owing to its healthy benefits and growing incidence of various health problems such as osteoporosis is the major factor driving the growth of Iraq Dairy Products Market. Furthermore, growing technological innovation in dairy based products increases the use of dairy products is set to further enhance the overall market demand for Iraq Dairy Products Market for the period 2021-2026.
Iraq Dairy Products Market Segment Analysis – By Type
The Iraq Dairy Products Market based on Type can be further distributed into Milk, Cheese, Butter, Cream, Desserts, Milk Powder, Yogurt, and Others. The Milk segment is the major segment generating revenue in 2020. This is mainly owing to its healthy benefits as it contains calcium, protein, vitamin D and many others that rising the consumption of milk among consumers. Moreover, the usage of milk rising in variety of beverages such as chocolate milk shake, etc. that growing the production of milk among manufacturers and thus driving the market growth. The Yogurt segment is estimated to register the fastest CAGR of 6.1% for the period 2021-2026. This is mainly owing to the fact that yogurt are used in variety of dishes to enhancing the taste that rising the production of yogurt. Moreover, rising availability of various flavors of yogurt increases the sales of yogurt which in turn propelling the growth of Iraq Dairy Products Market.
Iraq Dairy Products Market Segment Analysis – By Distribution Channel
The Iraq Dairy Products Market based on Distribution Channel can be further segmented into Supermarkets and Hypermarkets, Online Channel, Speciality Stores, and Others. The Supermarkets and Hypermarkets segment registers for the highest Iraq Dairy Products Market share in 2020. This is mainly owing to its availability of wider range of products and various kind of dairy based products are available in same place which provides easy shopping for consumers. Moreover, separate section of dairy based products in supermarkets and hypermarkets creates no confusion among consumers that rising the preference among consumers for grocery shopping. The Online Channel segment is forecasted to register the fastest CAGR of 7.2% over 2021-2026. This is mainly owing to rising consumption of various flavours of cheese and yogurt that are mostly available in online. Moreover, growing adoption of tetra packed milks and pasteurized milk rising the need of online channels and are thus propelling the growth of Iraq Dairy Products Market.
Growing adoption of protein based beverages among health consciousness people rising the need of dairy based products is a major factor driving the market growth. Dairy based products helps to increase the strength of body that rising the consumption among sports person. Moreover, rising demand of dairy based products in various fitness organization increases the production of dairy and therefore rising the growth of the Iraq Dairy Products Market over the period 2021-2026.
Growing Incidence of Various Health Problems
Rising incidence of various diseases such as osteoporosis increases the adoption of dairy products that further driving the market growth. According to Department of Medicine, the prevalence rate of osteoporosis increase by 22.8% which rising the need of dairy products among Iraqi patients and thus boosting the growth of Iraq Dairy Products Market over the period 2021-2026.
Covid-19 Impact:
COVID-19 pandemic had greatly impacted the growth of Iraq Dairy Products Market. During pandemic, people are becoming conscious towards their health that rising the adoption of healthy foods and beverages. So, the consumption of dairy products increases in order to increase the immunity to fight against COVID-19 and are positively impacted the growth of Iraq Dairy Products Market.
Iraq Dairy Products Market Challenges
Rising Lactose Intolerance Among Consumers
The factors that is set to impede the growth of the Iraq Dairy Products Market are rising lactose intolerance owing to excessive consumption of dairy based products which is set to restrain the growth of Iraq Dairy Products Market.
Iraq Dairy Products Market Landscape
Product launches, acquisitions, collaboration, joint ventures, and geographical expansions are key strategies adopted by players in the Iraq Dairy Products Market. Iraq Dairy Products top 10 companies are Zaki Group, Megmilk Snow Brand Co. Ltd, Fonterra Group Cooperative Limited, Dean Foods Company, Parmalat S.P.A, Danone, Unilever, Arla Foods UK Plc, Amul, Kraft Foods Inc, Dairy Farmers of America Inc., and Lactalis.
Development
In July 2020, Zaki Group in Iraq launched milk in family size packs that are available in full fat, low fat and fat free white milk and thus rising the market growth.
Key Takeaways
The demand of dairy products is rising in Iraq owing to rising trends of using milk in various shakes and other beverages as it helps to provide delicious taste that rising the need of dairy based products and thus rising the growth of Iraq Dairy Products Market.
Rising consciousness about health among consumers and growing incidence of various health problems are enhancing the growth of the Iraq Dairy Products Market.
The prominent manufacturers operating in the market will be provided detailed analysis of Strength, Weakness, and Opportunities in the Iraq Dairy Products Market report.
Rising lactose intolerance rates owing to consumption of dairy products is set to create hurdles for the Iraq Dairy Products Market.
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