The project involves establishing a biscuit factory in Iraq, producing plain and filled biscuits, as well as sweet biscuits and wafers. The project will rely on creating distinctive flavors and will cater to consumers who prefer low-sugar and low-calorie products. This will enable the project to capture a significant share of the target market.
In 2021, the global biscuit market was valued at USD 110.20 billion and is expected to reach USD 171.70 billion by 2029, registering a CAGR of 5.70% during the forecast period.
According to the International Trade Center, Iraq imported approximately $535.2 million worth of biscuits and wafers in 2021, and the figure is expected to reach $643.2 million by 2029. These results confirm that the project will be highly profitable, especially if we know that Iraq’s imports of biscuits and wafers increased by approximately 1.8% during the period (2015-2020).
