Your business with Iran starts from our local connections

 

Iran Market Reports

We believe that accurate market insight is key to implementing a successful foreign market entry strategy for all multinational businesses, so we aim at serving these enterprises with quality data needed to make informed decisions. At IranPartner we understand the concerns of foreign businesses about entering the Iranian market. As is the case with most developing countries, lack of reliable data and the small number of businesses that are engaged in Iran make the country a somewhat nontransparent market for business owners, executives, marketing managers and business development officers in companies that are seeing opportunity in the biggest untapped market in the MENA region.

Since doing proper due diligence and evaluating the risks and rewards before entering Iran is time-consuming and costly for businesses outside of the country we offer to do the hard work for them. We continuously monitor the market and gather data on different areas to keep our databases up to date. At IranPartner we use official and commercial reports (Governmental Organizations such as CBI, TPO, SCI, ICCIMA, IRICA along with global agencies such as WB, IMF, WTO, etc. and reports generated by private sector firms in Iran) along with primary data gathered through our vast professional network in the country by interviews, inquiries and field studies. We do our best to ensure our reports are based on and convey accurate and reliable data to our clients because we believe quality is what builds lasting success.

Our market research service is intended to provide foreign companies with data, analytics, and information required for gaining a deeper insight into their field of business in Iran. We conduct custom market research for our clients, covering the following headlines:

 

  • Executive Summary;
  • General Trends and Developments including economic trends and demographics of Iran;
  • Product / Service Analysis including product features and characteristics;
  • Market Demand for the product/service including current market segments, customer preferences, market size and outlook;
  • Market Players including domestic manufacturers profile, importers profile, distribution channel analysis, brand analysis, price analysis, after-sale services provided, and prevailing marketing strategies;
  • Financing options in Iran including bank loan terms and requirements and financial market options;
  • Monitoring and Regulations including required standards, government policies, import regulations, monitoring agencies and tax conditions;
  • Money Transfer Considerations regarding ways of getting money in and out of the country.

The above headlines are general, and our reports are tailored to the specific needs of our clients, resulting in altered or new coverage areas in the report.

Explore Our Reports

Agriculture has a long history in the Islamic Republic of Iran which goes back to 10000 BC. The total land area of the country is 1,648,195 square kilometers, 85% of which has an arid, semi-arid or hyper-arid environment. Only one-third of the total land area is cultivable, from which agricultural activities utilize only 12%. Most areas receive little precipitation except for the Caspian Plain which receives more than 1000 mm of rain annually making it very suitable for rain-fed agriculture. 10 million hectares of Iran’s cultivated land area are rain-fed, and the remaining 8.5 million hectares are irrigated.

Iran is the Middle East’s biggest car producer and its automotive industry, comprised of companies such as Bahman Group, Iran Khodro, and Saipa ranks 12th in the world for total production and 5th in the world concerning fastest growth. With the annual production of 1.6 million vehicles, Iran’s automotive industry accounts for 10 percent of Iranian GDP. The auto industry in Iran began by assembling Mercedes-Benz trucks back in 1955. Following that “Iran National” (now Iran Khodro), Iran’s first passenger car manufacturing company, set up the production and assembly line of “Hillman Hunter” in 1966 after a deal was struck between the Rootes Group and Iran National's director, Mahmoud Khayami.

Iran holds the world's second-largest reserves of natural gas and its oil reserves rank 5th after United States, Saudi Arabia, Iraq, and Russia. Iran has an estimated 154 billion barrels of proven oil reserves, nine percent of the world's total reserves and over 12 percent of OPEC reserves. Since the 1970s, Iran's oil production has varied greatly. Iran averaged production of over 5.5 million bbl/d of oil in 1976 and 1977, with production topping six million bbl/d for much of the period. Since the 1979 revolution, however, a combination of war, limited investment, sanctions, and a high rate of natural decline in Iran's mature oil fields has prevented a return to such production levels. In 2012, Iran exported approximately 1.5 million bbl/d of crude oil and condensate. Iranian heavy crude oil is Iran's largest crude export, followed by Iranian Light.

Iranian people have been famous for their production of handicrafts throughout history. The oldest hand-woven carpet in Iran dates back to 2500 years ago and was discovered in the Central Asian region. A Kirman ‘Vase’ carpet, a rare 17th Century Persian carpet, fetched £6,201,250 at Christie’s in London (20 times more than expected) – setting the new world record for the most expensive carpet. The previous Guinness world record for the most expensive carpet was £2.3m for a silk Isfahan rug, thought to have been made in the early 1600s, in New York in June 2008. Iran’s handicraft exportation has grown up to 31% compared to last year. Carpets and other handicrafts comprise the 4th non-petroleum export products in Iran and their exports to other nations is likely to post a robust year-on-year rise this year to reach US$ 1.5 billion by close of the current Iranian calendar year.

Iran ranks among 10 top countries in the world regarding mineral resources with mineral reserves. Iran has more than 68 kinds of mineral, and country's total reserve is 43 billion metric tons, with an estimated value of 700 billion US$. More than 70 percent of about 6,000 mines in Iran are currently active, and the country accounts for about 25 percent of Middle East’s minerals market. Iran has the world’s largest zinc reserves and second-largest reserves of copper. It also has significant reserves of iron, lead, chromate, manganese, coal and gold. Iran ranks 14th in the world in steel production, 9th in cement production, 10th in iron ore reserves, 25th in aluminum production and 2nd in decorative stones.

Iran’s petrochemical industry began with the Marvdasht Fertilizer Company near Shiraz in1963, using natural gas from the Gachsaran fields. It was systematically expanded with the establishment of the National Iranian Petrochemical Company (NIPC) in 1965. Today, NPC is the second largest producer and exporter of petrochemicals in the Middle East. The company’s primary role is to provide the required infrastructure, administrative role to develop the petrochemical industry and to guarantee the feed with appropriate price for 15 years (for the investors). The petrochemical industry accounts for 2 percent of the GDP, 44 percent of the non-oil exports and 55 percent of the industrial exports.

The modern Iranian pharmaceutical system goes back 100 years ago with the opening of the first modern-style pharmacy by German, French, and Austrian pharmacists in Tehran. Iran is one of 20 countries with high rate in pharmaceuticals consumption and ranks 3rd after Japan and China in Asia. Apart from its relatively large population of 80 million with high drug use, Iran is located in the center of the most important global markets on the southern coast of the Persian Gulf and due to the country’s underdeveloped healthcare system an exceptional opportunity for investment has been created.

Iran’s rich culture and civilization, ancient history and unique climatic and weather features together with its excellent geopolitical position in the region have turned it to one of the first ten countries in the world regarding tourist attraction. Iran has a myriad of ancient sites, 17 of which are listed by the UNESCO. It hosts Asia’s 4th and the Middle East’s 1st biggest number of UNESCO World Heritage sites. Some of them include 2500-year-old ruins at Persepolis near Shiraz city and 16th-century Islamic architectural gems in Isfahan. The holy shrines of Imam Reza, Prophet Masoumeh in the holy cities of Mashhad and Qom along with the temples of the religious minorities attract almost 3 million visitors every year.

Constant construction and expansion of the road and rail networks, even during the Iran-Iraq War (1980–88), have resulted in an overland transportation system that is adequate for freight and passenger demands in the early 2000s. Ports destroyed during the war have been rebuilt, and new ones on the Caspian Sea and the Persian Gulf have been developed. Air transportation is relatively inexpensive, and all large cities and many smaller ones have airports with regularly scheduled daily flights.

Doing business in Iran can be very easy as long as you stick to some basic rules and guidelines. Iranians are very friendly and hospitable people with a sense of national pride. The business atmosphere in the country is very welcoming and by no means aggressive nor intimidating. Iranians are keen to make business connections with people from all countries in the world, and they cherish establishing new relations.

Animal Industries have been rapidly growing during the past decade in Iran. The demand from the country’s huge population of 80 million and the government’s self-sufficiency policies have fueled the growth.
Currently, Iran ranks 9th in poultry production, 25th in beef production, and 7th in warm water fish production in the World.
Upstream industries such as feed, medicines, equipment, as well as downstream processing and packaging industries, are influenced by this growth. However, the developments in these related industries failed to pick up with the industry growth.

Iran is an attractive market for coarse grains and is one of the biggest importers of these products in the region. Iran’s Annual demand for coarse grains as of 2015 is 12.5 million metric tons, of which about 6.5 million tons with a value of roughly 2 billion dollars are imported.

With a population of almost 80 million, Iran is one of the largest food markets in the region. As of 2014 exports of 5.2 billion US dollars and imports of 13.1 billion dollars made Iran’s food trade stand at 18.3 billion US dollars. Iranian grocery retail market is estimated at about 48 billion US dollars, of which hypermarkets generate 2.9 billion dollars of sales and the remaining 39 billion dollars is sold through traditional stores. Economic sanctions prevented international companies to actively do business in Iran, as a result domestic market is mostly supplied by domestic producers. Lifting of the sanctions opens way to the food industry of one the largest untapped markets in the region.

Iran is a very attractive market for barley with an estimated value of around 1 billion dollars. To fulfill the domestic demands, Iran imported more than 1.9 million metric tons of barley with a value of roughly 530 million dollars in 2015.

With a population of roughly 80 million, Iran is the largest country in the Middle East and North Africa region after Egypt. Iranians spend $3.3 billion on and smoke about 53 billion cigarettes every year. Iranian market is flooded with smuggled cigarettes, with estimates putting it around $1 billion.

The Iranian corn market assessment report offers the most up-to-date industry data on the actual market situation and future outlook for corn in Iran. The report includes historic data and forecast for the medium-term corn market in the country which makes the report an invaluable resource for producers, importers, suppliers, industry executives, marketing, sales, and product managers, and other people looking for opportunities to enter Iran corn market in a readily accessible document with clearly presented tables and graphs.

With 2.6 million acres of orchard, Iran produces about 16 million metric tons of fruit per year. Iran exports 1.1 million tons of dried and frozen fruit with a value of 2.8 billion dollars per year. It is also the biggest producer of pistachio, producing half a million metric tons and exporting 180 thousand tons valuing 1.6 billion dollars. Although import of fruit is banned, the only exception is tropical fruit (banana, coconut, pineapples and mango. As of 2015, Iran imported 500 thousand tons of bananas valuing 700 million dollars.

Iran is one of the largest exporters of dried fruits and nuts in the World with more than exports valued more than $2 billion. Iran’s exports are chiefly shipped to Germany, USA, France, England, Italy, and Spain. Pistachios, raisin, walnuts, dates, and dried figs constitute the largest part of Iran’s dried fruits and nuts exports.

Iran is the third biggest consumer of edible oil in the Middle East after Turkey and Egypt. Expanding middle class has been the driver for oil consumption in the country, which as of 2015 stood at around 1.7 million metric tons per year. To fulfill its consumption needs, Iran needs to import around 900 thousand tons of oil per year. Iran’s oil market is dominated by sunflower and soy oils, which also constitute more than 90% of oil imports to the country.

Iran is the biggest consumer of rice in the Middle East. It’s large population of 80 million drives a demand of around 3 million metric tons per year. Domestic production of rice in Iran stands at around 2 million tons, leaving a gap to be filled by imports. In 2015, Iran imported just over 700 million tons of rice, down from 1.2 million tons in 2014. This decrease in imports was mainly due to increased level of domestic production. India is the major exporter of rice to Iran, constituting 65% of the 650-million-dollar business as of 2015.

Iran’s soybean market is almost wholly supplied by imported products. Annual demand for soybean meal is about 2.5 million metric tons. As of 2015 Iran imported 2.1 million tons with a value of 1.3 billion dollars.

With Iranian starch mostly used in the food industry, as of 2015 the country imported roughly 10 thousand metric tons of starch with a value of about 15 million dollars.

Iran, with a population of about 80 million, is the second largest country in the Middle East and has an annual wheat consumption of about 9 million tons. Domestic wheat production is about 6.5 million tons as of 2015, while the country plans to increase its production capacity. Wheat imports to Iran are very unstable, because of the changing domestic production. In 2015, Iran’s Wheat imports were standing at around 2.8 million tons valuing about 800 million dollars; while in 2014, Iran’s wheat import was standing at more than 6 million tons with a value over 2 billion dollars, putting this strategic commodity among the top 5 most valuable imports to the country. Russia, Kazakhstan, Ukraine, Germany, Australia, and Canada are the leading suppliers of wheat to Iran.

Iran has a growing animal health market. The country features hundreds of feed mills while relying on imports for the supply of vitamins and other feed additives. The animal medicine market, worth USD600mn, promises great investment and trading opportunities. The country also boasts an established veterinary pharmaceutical industry that is eager to form joint ventures and enter under-license manufacturing arrangements.

Iran has 3,500 kilometers of coastlines along the Persian Gulf and the Caspian Sea. The country relies on its fishing industry for supplying 600 thousand tons of aqua-products to the market, while the aquaculture production stands at about 400 thousand tons. Iran is the World’s seventh largest producer of warm water fishes, number one largest producer of rainbow trout, third largest producer of salmonid, and the 20th largest producer of shrimps.

Although increasing dairy milk prices has dampened the domestic demand for dairy products in recent years, the industry has been growing by turning its face to export markets. Currently, Iranian manufacturers produce more than 6 million tons of dairy products from the 8 million tons of milk produced in more than 15 thousand local dairy farms. With a total of 900 thousand registered Holstein cows, the industry provides great opportunities for specialized products and services such as medicines and specialized disinfectants, vaccines, feed additives and supplements.

As of 2015 Iran produced 2.69 million tons of meat, making it the third largest producer of meat in the Middle East. Iran’s meat production mainly consists of poultry at 2.13 million tons making it the World's seventh largest producer and region's second producer after Turkey. Iran also produced bovine at 291 thousand tons in 2015.

As the ninth largest poultry producer in the World, Iran has a capacity to produce more than 2.3 million tons of chicken meat in its over 20,000 broiler farms. The country also produces 900 thousand tons of eggs per year, some of which is exported to the neighboring countries. Iranian poultry industry is well established with it featuring GP broiler and layer farms, as well as boiler and layer breeder farms to drive the extensive industry.

Pet market in Iran has been growing rapidly during the recent years with cats and dogs being at the center of the attention. Iranian pet food and accessories imports in 2016 were worth 2.5 million US dollars, more than twice the value in 2013. Import of pet medicine and vaccines is subject to acquiring permission from the Iranian Veterinary Organization. Also, Iran’s pet food market is completely supplied by foreign producers and lifting of the sanctions is expected to boost the already rapid growth rate of the market. As of 2016, German and Italian pet food producers dominate the market. 

Iranian automotive industry with a turnover of 12 billion US dollars is the second largest industry after oil and gas. With over 1 million cars sold in 2014, Iran is the thirteenth biggest cars manufacturer in the world and the largest automotive manufacturer in the Middle East. About 40% of all parts is produced by domestic part makers, leaving more than 7 billion Us dollars of the market for foreign part manufacturers. China is the major player in Iran’s auto parts market.

A significant population of about 80 million makes Iran an attractive car market in the region. As of 2015, there were around 15 million cars in Iran. A per capita of 0.187 cars puts Iran in the 80th position in the global ranking. Each year 5.8 million cars are traded in Iran, of which roughly 1 million are new. High car prices in Iran makes used cars an attractive option for average Iranian families.

Along with the domestic production of fire fighting vehicles, imported trucks such as Mercedes, Hyundai, Isuzu, Nissan, and Aselkon are used in Iran’s fire-fighting system. As of the last Iranian year (ended March 19th, 2016), Iranian fire fighting vehicles import was worth $3.7 million.

With a GDP of $400b, Iran has the largest and most diverse industry in the region. Although Iran had the fourth largest oil reserves and second largest gas reserves in the World and exported $6.0b as of the last Iranian year (ended March 19th, 2016), lack of petrochemical production capacity for its particular chemical needs makes Iranian industries rely on imports for their required raw material. As of year, Iranian companies imported $4.4 b worth of industrial chemicals. With the economy recovering from a severe recession in the last two years, the outlook for industrial chemicals in Iran looks promising.

Iran has the world’s fourth-largest supply of proven oil reserves and the second-largest supply of conventional natural gas reserves, much of which is rich in ethane, a petrochemical feedstock. Iran’s current petrochemical production capacity is just below 60 million metric tons (MMT). The country produces a broad range of petrochemicals, roughly 100 different products, ranging from acetic acid to mixed xylenes. While the vast majority of these products are meant to serve Iran’s comparatively advanced economy and a large population of nearly 80 million, a few products are aimed at export markets. These are primarily ethylene, polyethylene (PE), methanol, and mono-ethylene glycol (MEG). Iran exported 19 billion US dollars of petrochemical products in 2015, and lifting of the sanctions will boost the country’s exports.

With a production of 330 million square meters of ceramic tiles in 2015, Iran is the sixth largest manufacturer of tile in the World. Domestic production has decreased during the last two years as a result of a recession in the housing market and reached 250 million square meters per year. As of 2015, Iran’s ceramic tiles market is worth 900 million US dollars, cooperation with Italian manufacturers in the after sanction environment is expected to reinforce Iran’s presence in the World ceramics market.

Increasing energy costs and heightened awareness about energy efficiency in Iran is the driver for UPVC market in Iran. After two years of recession in the country’s housing market, new building projects will increase the demand for UPVC windows in the country. As of 2015, Iran’s imports of this product were estimated at around 500 thousand US dollars, which was drastically less than 25 million US dollars of imports in the previous year.

Demand for chandeliers in Iran has been rising in the past years due to an increase in construction. Iran’s market is estimated at more than $55 million. Domestic manufacturers supply the major part of the demand with Chinese, Italian and Turkish products being the largest exporters to Iran. Products in Iran vary significantly in type and prices range from $20 to $11,500.

Big oil, gas and petrochemical industry accompanied by huge investment in buildings and infrastructure in Iran makes an attractive market for contractor companies. Although Iran has many contractors, the biggest of which ranks 99 on the ENR top 400 contractors with roughly 1 billion dollars in revenue, the high demand of the domestic market has been the driver for the surge of large contractors to the country.

With massive construction and mining industries, Iran has a high demand for heavy vehicles and cranes. As of the last Persian year (ended March 19th, 2016), Iran has imported 40 million dollars of cranes and 150 million dollars of bulldozers and loaders.

The construction sector has been significant for the Iranian economy and accounting for 20–50% of the total private investment. The construction industry of Iran is divided into two main sections. The first is government infrastructure projects and the second is the housing industry. In recent years, the construction sector has been thriving due to an increase in national and international investment to the extent that it is now the largest in the Middle East region. Iran’s construction sector is seeing a steady annual growth of 4.2% which is expected to double in coming years, especially in 2016 where the industry is projected to reach a market size of US$ 154.4 billion.

Iran is the seventh producer of cement in the World with a production capacity of 65 million metric tons per year. Iran is a net exporter of cement, and as of 2015, the value of cement exports stood at roughly 700 million dollars making cement the second exported commodity of the country after steel.

Iran has a high demand for flat steel products from its enormous construction and automotive industries. As of the last Persian year (ended March 19th, 2016), Iran had used 8.5 million tons of flat steel, from which 1.4 million tons with a value just above 1 billion US dollars were imported. As the construction and automotive industry bounce from two years of recession, the demand for steel products will rise in the course of two years.

With 2.4 billion metric tons of Marble, Granite and Travertine reserves, and a production of 115 million square meters, Iran is one of the biggest producers of stone in the World. Despite the huge capacity, old technology in the Iranian mines is the reason why not only the majority of production is consumed domestically but also as of 2015 Iran imported 145 million US dollars of building stones.

Iran is a net producer of hose in the Middle East. As of last Iranian year (ended March 19th, 2016), Iran exported about 10 tons of hose worth $27.5 million and imported 2 tons worth $5 million.

As of 2016, Iran has a nominal power generation capacity of 74 MW, from which 80% is produced from gas, steam, and combined cycle power plants. With 26.6 million of household users and 216 thousand industrial users, Iran is the second largest electricity consumer after Saudi Arabia, and as the economy revives with the lifting of the sanctions, domestic needs will continue to rise in the years to come.

Iran has the second largest proven gas reserves and the fourth largest oil reserves in the World. Despite vast reserves, Iranian oil and gas industry has been hit severely by the economic sanctions and the production decreased from more than 4 MMbo/d to just 2.85 MMbo/d. Iran is aggressively looking to increase its production capacity and needed investments in coming years are in the order of hundreds of billion dollars.

Iran is the fourteenth biggest electricity producer with a capacity of more than 74 thousand megawatts, only 235 megawatts of which is supplied by renewable energy plants. Iran is estimated to have the ability to produce 30 gigawatts from the wind power and 10 gigawatts of solar electricity. Iran is investing heavily in renewable energy and is expecting to add 5 gigawatts of renewable plants in the current Persian year (started March 20th).

A population of 80 million along with the shortage of residential buildings are the primary drivers for the housing market in Iran. Cultural changes caused average family size to decrease steadily in the past decade, increasing the demand for smaller houses in the country. After two years of recession in the housing market, it is expected that substantial increase in housing loans in Iran accompanied by the revitalization of the economy will lead to the construction of 800 thousand new apartments in Iran during the year to come. Restoration of old buildings is one of the priorities of the Government of Iran. Estimates show that about 143 billion US dollars need to be allocated in the next ten years for restoration of 14,000 meters of critically decaying buildings.

Iran has a large population of 80 million people scattered across a geography with drastically different climate. This diverse climate accompanied by increasing family income has made air conditioners an essential part of Iranian Houses. As of last Iranian year (ended March 19th, 2016), air conditioning imports were worth 350 million US dollars.

A young population and increasing middle class in Iran is the driver for its 5.5-billion-dollar home appliances market. As of 2015, Iran imported 4.3 billion dollars of home appliances. An estimated margin of 30 to 40 percent, makes importing home appliances a very attractive business in Iran.

Home furniture market in Iran has been on the rise as a result of increasing middle-class income in the recent years. As of 2015, Iran’s furniture market had a turnover 500 million dollars. Economic sanctions depressed Iran’s furniture exports to about 10 million dollars and imports to around 12 million dollars. With the lifting of the sanctions, Iranian furniture trades will be substantially affected.

Iran with a population of 80 million is the biggest emerging market in the Middle East. As the economy progresses, demand for new and modern buildings – both residential and office – increases. Even during last two years that housing market was hit by one of the largest recessions in a decade, more than 100,000 new building permits were issued per year. Low voltage equipment demand driven by the construction projects and also a national move towards more efficient equipment is more than domestic supply. As of the last Persian year (ended March 19th, 2016), Iran imported $76 million worth of low-voltage switching equipment, $2.5 million worth of energy-saving lamps, and $7.3 million worth of low voltage insulated cables.

Iran has the second biggest food industry in the Middle East after Turkey. With an eye on foreign markets, Iranian companies started migrating to new technologies. As of 2014, Iranian companies imported 355 million dollars of processing and packaging equipment up from 193 million dollars in 2013. Iranian food industry equipment imports are expected to at least double in the few years after the lifting of the sanctions.

Iran for non-oil and gas drilling machinery is a market for used equipment only. After the depreciation of Iranian currency in 2012, no new drilling derricks were imported to the country. The last shipment of this equipment to Iran was in 2011 with a value of $2.55 million. With the lifting of the sanctions and the country’s need to renew its industrial equipment, rising demand for drilling derricks is expected in the course of two years.

Iran ranks 10th in the world for mineral variety, with 68 types of minerals estimated to be worth US$700 billion. As the 15th largest mineral holder globally, Iran's 37 billion tons of proven reserves and 57 billion tons of potential reserves are real pull factors for global mining companies. The industry comprises a staggering 5,000 plus active mines and employs 620,000 people. It is no surprise that 25% of the market value of the Tehran Stock Exchange is generated by the mining sector. Years of economic sanctions prevented the country from importing new machinery, and now that the sanctions are lifted Iran is seeking to increase its mining industry with an opportunity for 30 billion US dollars of investment open to foreign investors.

Iran’s foreign zinc trade as of the last Persian year (ended March 19th, 2016) was worth $220 million, from which $197 million was due to export 125 thousand tons and $23 million was due to the import of 49.3 thousand tons of zinc and related products. Iran can produce 400 thousand tons of zinc ingot per year. The country’s Zinc production from dross stands at around 4.1 thousand tons, and as the production technology in Iran is dated, there are piles of dross stored in the warehouses of zinc manufacturing companies.

Iran is a major consumer of paper in the Middle East and imports take up the biggest part of the market. As of last Persian year (ended March 19th, 2016), Iran’s paper and pulp imports were more than 1.115 million metric tons valued at around 1.120 billion Us dollars.

Iran is a major importer of woods in the Middle East. As of last Persian year (ended March 19th, 2016), Iran imported 1.56 million tons of wood with an aggregate value of 720 million US dollars.

A young and internet-savvy population of 80 million makes Iran the second largest country in the Middle East after Egypt. With a market size of 3.8 billion US dollars, Iran is the second largest cosmetics market in the Middle East, after Saudi Arabia.

The Middle East is the fastest growing pharmaceutical market in the World with annual growth rate of 11%. Iran is among the top four markets with a value of 2.35 billion US dollars as of 2014. Iran is also an exporter of generic drugs in the region, a sector that is heavily reliant on raw material imports. The lifting of the sanctions that prevented the export of medicinal products to Iran made Iranian market an attractive destination for international pharmaceutical companies.

With a population of 80 million and market size of 830 million US dollars Iran is the biggest consumer of hair care products in the Middle East. Besides, lifting of the sanctions is expected to increase Iranians’ hair care consumption at a 5% rate per year until 2019.

Iran has 0.03 dentists for every 1000 people, which is a tiny number. Thus the officials are devising plans to increase dentistry coverage in the country. Iran’s dentistry market is reliant on imports for its equipment; as of the last Iranian year (20 March 2015-2016) Iran imported $950 thousand of artificial teeth, $8.3 million of tooth radiography equipment, $2.9 million of autoclaves, $1.1 million of dental drill engines, $680 thousand of syringe needles and dental injection needles, $400 thousand of electric dental scaler (cavitron), $450 thousand of other dental equipment.

Iran with 80 million people is the second largest population in the Middle East. As of 2015, Iran has 135 thousand hospital beds and 5000 ICU beds the majority of which are estate owned – 80% of Iranian hospitals are government owned. Iran’s government is encouraging the private sector to invest 5.7 billion US dollars in creating 80,000 new hospital beds in the country.

Iran is the seventh consumer of beauty products in the World and the second largest in the Middle East. A large population of 38 million women of whom the majority are 15-35 years old, along with cultural factors is the reason that makes beauty products among the most accessible products in the country. These products are sold in pharmacies, shopping malls, and specialized beauty shops and even in the subways all over the country.

Iran has 80 million people, making it the second largest country in the Middle East and one of the most significant markets in the World. Iranian medical equipment industry turnover is estimated at around 500 million US dollars, as the country tries to improve its healthcare system.

Iran with a large population of 80 million is the second biggest country in the Middle East. With more than 5500 estate-owned and private laboratories, Iran’s lab equipment market is estimated at around 300 million US dollars. As economic sanctions prevented foreign companies from operating in the medical equipment sector, the government has been supporting self-sufficiency in the industry. The government provides up to 50% subsidy to labs that buy from domestic producers. The country invested heavily in the local companies and as of 2015 Iranian lab equipment companies sold more than 250 million dollars of equipment.

Iran’s market for 3D printing has been growing in recent years. Oral & Maxillofacial surgeons, architects, and especially universities constitute the primary developing market for 3D printers. However, depreciating local currency over the past few years made importers go for cheaper models. As of the last Iranian year (ended March 19th, 2016), the biggest sector using 3D printers in Iran was jewelry.

Iran has a rapidly growing online retailing market. As of last Persian year (ended March 19th), there are more than 2900 online shops with a turnover of roughly 100 million US dollars in Iran which is 30% higher than the year before that. Digikala, the equivalent of Amazon, and Esam, the equivalent of e-bay, are major players in the Iranian online shopping market.

Telecom industry in Iran has a very promising future. Iran’s demographics bespeak potential growth: over 60% of its population of 80 million is under the age of 30; nearly three-fourths of the population live in urban areas; nationwide literacy is close to 87%; and, like millennials in the West, Iranian youth are thoroughly wired. The percentage of Internet penetration is 82% with 48% of the households having access to the broadband connection. Mobile penetration is more than 120%, meaning people have more than one phone or SIM card. Iranians are now using 40 million smartphones.

Iran has a very young population. Out of 80 million population of the country, about 65% are under 35, and the population under five is estimated at 6.9 million. Unlike many of the Middle Eastern countries, Iranian population is highly educated, and marriage age in the country is relatively high - 27 for men and 25 for women. A population of 25 million in the age of 20-35, a fertility rate of 1.9%, westernized culture, and per capita GDP of 16,500 dollars makes Iran an attractive market for baby products.

Iran has an enormous potential for luxury brands as the economic sanctions are lifted. Despite years of sanctions, Iran’s per capita GDP stands at $5,000 which is higher than other emerging markets such as Brazil, China, India, and South Africa. Furthermore, during 2000 to 2014 the sanctions could not prevent the number of Iranian millionaires from increasing by 194% to 32,100 – a population that is not only familiar with global brands, but also wants to live it to the full.

With a young population of more than 79 million, highly educated and fashion aware female population, and one of the highest per capita GDP among the emerging markets, Iran is a lucrative lingerie market in the Middle East. The market in Iran hosts many luxury European brands as well as mid-price Turkish and cheap Chinese products. As lifting of the economic sanctions on Iran eases the imports of luxury brands, it is expected that average consumer spending on lingerie increase in the years to come.

A huge and young population of 80 million is the reason why Iranians buy clothes equivalent of 1.6 billion square meters of fabric per year, of which domestic producers make 40%. As a result, Iran’s demand for textile is estimated to be about 640 million square meters, of which imports cover about 70%.

A population of 80 million, 26 million of which are in their twenties and thirties, and with the majority of the population being highly educated, Iran is an attractive market for clothing. As of 2015, Iranian clothing market is estimated at 10 billion US dollars from which 60% are imported products from China and Turkey.

The 80 million population in Iran buys more than 200 million shoes per year; this makes Iran's 5-billion-dollar shoes market one of the largest in the region. Iran imported 0.5 billion US dollars of shoes in 2015, which were mostly from China and Turkey.

With a young population of 80 million, increasing public awareness about sports and growing spending power in the country Iran is an attractive market for sports clothing and equipment. There is almost no domestic producer for sports equipment, and more than 70% of clothing is imported to the country. In the shoe department, the biggest part of the market is dominated by Chinese products.

Iran ranks fifth in natural attractions and tenth in archeological and historical attraction in the World based on the report by World Tourism Organization. The country is aiming to attract 20 million visitors in 2025 and to achieve this goal Iran introduced an investment package containing 1300 projects valuing about 25 billion US dollars. Iran needs to expand its tourism infrastructure and adding 30 hotels per year is only part of the opportunities this attractive industry provides.

Iran has more than 2000 kilometers of shores, from which 1400 kilometers with the Persian Gulf has access to open seas. Currently, more than 90% of Iran’s 80 billion-dollar foreign trade is through maritime trade. As of last Persian year, Iranian ports handled roughly 150 million tons of commodities and Iranian fleet transited some 100 million barrels of oil. On the repair services side, Iranian domestic companies can serve only 40% of the estimated 600 repair orders from Iranian maritime fleet.

Iran has roughly 10,000km of railway and is planning to add another 8,100km in the coming years. From this amount, 4,700km is under construction and 3400km is being studied. Iran has 528 locomotives, 22,098 freight cars, and 2,076 passenger cars, the majority of which is owned by the state-owned Raja Rail Transportation Co. In the following two years, Iran is planning to increase its passenger rail travels to 40 million up from the current 28 million, and also increase its freight transport to 70 million tons up from the current 33 million tons, a plan that requires addition of 700 passenger cars and 11,000 freight cars.