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Iranian Dairy Market Offers Strong Growth Prospects

19 December 2016

IRAN - Iran’s market for dairy products witnessed a significant growth during 2011-15, on the back of increasing demand from across the country and shift in consumer preferences from unpacked dairy products to packaged dairy products.

In addition, rapid urbanization and changing lifestyles in Iran are projected to drive production and consumption of processed and packaged dairy products across the country.

According to a new report by US-based market research firm TechSci Research, the market for dairy products in Iran is projected to grow at a compound annual growth rate of over 22% by 2021, which is attributable to increasing the online presence of major market players offering dairy products and increasing westernization of food habits.

The increasing focus of the Iranian government to reduce economic dependence on oil and gas sector is fueling investments for development of dairy farming and agriculture sectors.

The recent lifting of economic sanctions from Iran by the UN opened up the economy, facilitating trade and business with countries in Europe and North America.

Consequently, various international dairy brands are expected to enter Iran in the coming years and establish multiple milk collection and cooling centers in various provinces, including rural areas.

Ireland’s state agency Bord Bia embarked on a trade mission with 17 Irish food producers to explore the potential of Iranian market at the end of April this year. The visit was aimed at increasing Ireland’s share in the Iranian food market, following the removal of international sanctions in January.

The Irish delegates, including Minister of Agriculture Michael Creed, met senior officials of Iran’s Agriculture Ministry to discuss trade opportunities for Irish agricultural products, including dairy.

Source: Financial Tribune

TheCattleSite News Desk


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