All players in beauty and personal care in Iraq faced challenges in 2023 as financial instability, limitations on foreign exchange and the revaluation of the dinar fuelled price inflation. This supports informality in the market despite the shift among importers towards formal operations.
Iraq’s moves towards closer integration with the international banking system during 2022 have had a huge impact on the state of the country’s beauty and personal care market, resulting in two major opposing trends. On the one hand, the industry’s larger players have adapted easily to the new financial system, taking full advantage of the opportunity to import their merchandise at lower cost than previously.
Demand continues to rise across all categories of beauty and personal care as local consumers become interested in a wider range of products that are becoming integral to the daily lives of increasing numbers of Iraqi consumers. One major reason for this is the expansion of options on offer, with more choice available in terms of products, brands and price points, while the widening of distribution also made a wider range of toiletries available to consumers across the country.
The two most important socioeconomic trends impacting Iraq’s billion personal care industries during 2023 were the increasing interest in a wider range of products among the younger generation of Iraqi adults and the growing interest in higher-quality products, especially among the more affluent residents of the country’s largest cities. This can be seen as the result of rising income levels among middle-class Iraqi consumers, which has led them to become more focused on quality.
By the end of the review period, the issues that local distributors of beauty and personal care products have long faced in their efforts to distribute their products had largely been resolved. These issues stem from the 15 years of armed conflict that plagued Iraq earlier in the century.
Further positive sales growth is expected in Iraq’s beauty and personal care industries during the forecast period as the improving socioeconomic situation in the country and rising income levels are set to spur growth as the entire industry moves closer to realising its considerable untapped potential. This development is set to combine with the greater focus on maintaining an attractive and well-groomed appearance to underpin a substantial expansion of demand.
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Understand the latest market trends and future growth opportunities for the Beauty and Personal Care industry in Iraq with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Beauty and Personal Care
This is the aggregation of baby and child-specific products, bath & shower, deodorants, hair care, colour cosmetics, men's grooming, oral hygiene, fragrances, skin care, depilatories and sun care. Black market sales and travel retail are excluded.
See All of Our DefinitionsThis report originates from Passport, our Beauty and Personal Care research and analysis database.
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