Iraq Retail Industry Market (2024-2030) | Outlook, Revenue, Industry, Value, Analysis, Size, Growth, Companies, Trends, Share & Forecast

Topics Covered in Iraq Retail Industry Market Report

Iraq Retail Industry Market Report thoroughly covers the market by Product and Distribution Channel. Iraq Retail Industry Market Outlook report provides an unbiased and detailed analysis of the ongoing Iraq Retail Industry Market trends, opportunities/high growth areas, and market drivers. This would help stakeholders devise and align their market strategies according to the current and future market dynamics.

Iraq Retail Industry Market Synopsis

During 2020-2023, Iraq retail industry experienced significant growth, driven by the expansion of modern retail formats such as shopping malls, supermarkets and hypermarkets. Additionally, urbanization, infrastructure advancements, and the rise of a middle class with higher disposable incomes further accelerated this growth. The increase in online shopping activity, particularly during the global COVID-19 pandemic, also played a pivotal role as restrictive measures limited traditional in-store shopping, prompting a shift toward e-commerce solutions. Post-pandemic economic recovery led to the increased investment in retail sector, resulting in the expansion of new supermarkets and hypermarkets in major urban hubs like Baghdad and Erbil.

According to 6Wresearch, the Iraq Retail Industry Market is projected to grow at a CAGR of 6.7% between 2024 and 2030. The market is set for sustained growth, largely driven by the rapid expansion of the e-commerce sector. Currently, 75% of the Iraqi population has internet access, with 61.4% active on social media platforms, providing a strong foundation for the growth of e-commerce and digital marketing strategies within the retail space. Additionally, the increasing urban population has significantly boosted retail sector growth, with consumers gaining access to a wide variety of goods in consolidated shopping environments. Notable example include Carrefour hypermarkets, Carrefour runs 4 hypermarkets and 1 supermarket in the Kurdistan region, contributing to the evolution of Iraq's retail landscape.

Market Segmentation By Product

The electronics and household appliances segment is expected to experience the fastest growth in Iraq's retail market, driven by increasing internet penetration, shifting consumer lifestyles, and growing demand for modern conveniences. Moreover, E-commerce platforms like Al Hafidh is solely dedicated to this segment.

Market Segmentation By Distribution Channel

The online distribution channel is expected to grow the fastest in the Iraq retail market, driven by its ability to offer a wider range of products and the convenience of home delivery, which further attracts consumers and fuels rapid growth in this channel.

Key Attractiveness of the Report

• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Iraq Retail Industry Market Overview
• Iraq Retail Industry Market Outlook
• Iraq Retail Industry Market Forecast
• Historical Data and Forecast of Iraq Retail Industry Market Revenues, for the Period 2020-2030F
• Historical Data and Forecast of Iraq Retail Industry Market Revenues, By Product, for the Period 2020-2030F
• Historical Data and Forecast of Iraq Retail Industry Market Revenues, By Distribution Channel, for the Period 2020-2030F
• Iraq Retail Industry Market Revenue Ranking, By Companies
• Iraq Retail Industry Market Drivers and Restraints
• Iraq Retail Industry Market Trends
• Iraq Retail Industry Market Porters Five Forces
• Iraq Retail Industry Market Opportunity Assessment
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Product

• Food & Beverages
• Personal & Household Care
• Apparel, Footwear, and Accessories
• Electronic & Household Appliances
• Furniture, Toys, and Hobby
• Others (Pharmaceuticals, Jewellery, Etc.)

By Distribution Channel

• Supermarkets/Hypermarkets
• Convenience/Department Stores
• Specialty Stores
• Online
• Others (Souks/Kiosks, Roadside Vendors, Mobile Vendors, and Pharmacies)