Iraq: Breakfast Cereal Market 2022

Breakfast Cereal Market Size in Iraq

After three years of growth, the Iraqi breakfast cereal market decreased by -5.9% to $X in 2021. Overall, consumption saw a buoyant increase. Over the period under review, the market attained the peak level at $X in 2020, and then dropped in the following year.

Breakfast Cereal Production in Iraq

In value terms, breakfast cereal production expanded notably to $X in 2021 estimated in export price. In general, production recorded significant growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 246% against the previous year. Breakfast cereal production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Breakfast Cereal Exports

Exports from Iraq

In 2021, exports of breakfast cereals from Iraq fell dramatically to X tons, with a decrease of -49.7% against the previous year's figure. Overall, exports, however, continue to indicate tangible growth. The most prominent rate of growth was recorded in 2014 with an increase of 62%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, breakfast cereal exports shrank notably to $X in 2021. In general, exports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 88% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020, and then declined remarkably in the following year.

Exports by Country

Turkey (X tons) was the main destination for breakfast cereal exports from Iraq, accounting for a 64% share of total exports. Moreover, breakfast cereal exports to Turkey exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey amounted to +16.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-5.7% per year) and the United Arab Emirates (0.0% per year).

In value terms, Turkey ($X), the United States ($X) and the United Arab Emirates ($X) appeared to be the largest markets for breakfast cereal exported from Iraq worldwide, together comprising 92% of total exports.

Turkey, with a CAGR of +25.6%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average breakfast cereal export price stood at $X per ton in 2021, with an increase of 20% against the previous year. In general, the export price showed a strong expansion. The pace of growth appeared the most rapid in 2020 when the average export price increased by 69%. The export price peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+18.6%), while the prices for the other major destinations experienced more modest paces of growth.

Breakfast Cereal Imports

Imports into Iraq

Breakfast cereal imports into Iraq shrank to X tons in 2021, falling by -7.8% against 2020. Over the period under review, total imports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +7.4% against 2019 indices. The growth pace was the most rapid in 2016 when imports increased by 37%. Imports peaked at X tons in 2020, and then contracted in the following year.

In value terms, breakfast cereal imports shrank to $X in 2021. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2020 when imports increased by 26%. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

In 2021, Turkey (X tons) was the main supplier of breakfast cereal to Iraq, with a 95% share of total imports. It was followed by Egypt (X tons), with a 2.4% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Turkey stood at +3.8%.

In value terms, Turkey ($X) constituted the largest supplier of breakfast cereal to Iraq, comprising 72% of total imports. The second position in the ranking was held by Egypt ($X), with a 14% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Turkey totaled -1.1%.

Import Prices by Country

In 2021, the average breakfast cereal import price amounted to $X per ton, with an increase of 2.5% against the previous year. Overall, the import price, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2019 when the average import price increased by 9.9% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Egypt ($X per ton), while the price for Turkey totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+4.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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