Investing in a fruit and vegetable refrigeration and packaging project in Iraq represents an investment opportunity in 2022. Iraq is currently distinguished by its commitment to providing full support to drive investment in the country, supporting Vision 2030 to advance the national economy, rebuild and strengthen the foundations of the non-oil economy, and strive to position the Iraqi economy in a distinguished position among global economies.
What is the cooling and packaging of fruits and vegetables?
Freezing fresh vegetables and fruits is one of the most effective ways to preserve them for long periods. The fruit and vegetable refrigeration and packaging project relies on preserving various types of vegetables and fruits at subzero temperatures for long-term storage and facilitating long-distance transportation without spoilage. The project is being established on an area that accommodates several refrigeration units and targets wholesalers, retailers, restaurants, hotels, malls, and supermarkets.
In 2020, the global frozen fruit and vegetable market was valued at approximately US$407 billion. By the end of 2021, the global frozen fruit and vegetable market was valued at US$440.6 billion. Economic forecasts indicate that the global frozen fruit and vegetable market could reach US$585.25 billion by 2025.
The latest official statistics indicate that Iraq’s annual date production reaches 735,350 tons, while annual crop and vegetable production exceeds 9.84 million tons. Mashroo3k Consulting Company confirms that the project Refrigerated and packaged vegetables and fruits in Iraq It represents a promising investment opportunity, given the high local demand for Frozen fruits and vegetables products in Iraq.
Iraq imports an average annual value of approximately US$957.2 million of edible fruits and vegetables. Iraq imports an average annual value of US$654.4 million of vegetables, according to the latest statistics from the World Trade Center.
For more details on the latest economic sector indicators and investment opportunities in Iraq, as well as the most prominent funding agencies supporting successful investment projects in Iraq, you can contact the investor services team at Mashroo3k Consulting.
