Iraq Retail Industry Market is projected to grow at a CAGR of 6.7% between 2024 and 2030

Supermarket & Hypermarket segment by Distribution Channel held the highest revenue share of Iraq Retail Industry Market -6Wresearch

In 2023, supermarket & hypermarket segment dominated Iraq's retail industry. Key players such as Carrefour, with locations in 7 major areas; Teammart, boasting 117 branches in Erbil; Waffir, have significantly expanded their operations, offering a diverse range of products to consumers.

According to 6Wresearch, the Iraq Retail Industry Market is projected to grow at a CAGR of 6.7% between 2024 and 2030. Rising disposable income in Iraq is a key catalyst for the retail market, significantly impacting consumer behaviour and expenditure across multiple sectors. The steady growth in wages and salaries over the years has directly translated into increased consumer spending, reflecting stronger purchasing power among Iraqi households.

In the upcoming years Iraq retail market is poised for significant growth, supported by growing population and improving internet penetration. Investments in startups like Hi-Express and Miswag, along with interest from foreign companies like ZoodPay, highlight the potential of online retail. The sector also plays a critical role in the distribution of fast-moving consumer goods (FMCG), with nearly 10% of Iraq’s $46.7 billion imports in 2020 attributed to this category. Legislative efforts, such as the Emergency Law for Food Security and Development, aim to strengthen food security and support the agricultural supply chain, thereby bolstering the retail market.

According to Suryakant, Senior Research Analyst, 6Wresearch, the food & beverage sector captured the largest revenue share in the market due to high consumer demand for essential goods, fueled by population growth and urbanization. The country boasts 10,495 food and beverage establishments, along with 117 manufacturers, drawing Iraqi consumers toward locally produced products and reducing reliance on imported goods.

Iraq Retail Industry Market (2024-2030) report provides an in-depth analysis with 15 figures and 3 tables, covered in 66 pages. The report thoroughly covers market by Product and Distribution Channel. Iraq Retail Industry Market outlook report provides an unbiased and detailed analysis of the on-going Iraq Retail Industry Market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.