This is a best prospect industry sector for this country. Includes a market overview and trade data.
Last Published: 2/18/2019

Overview

In 2014, the value of imported food and drink products to Iceland was more than $415 million.  The majority was made up of packaged and processed food.  As of January 1, 2012, Iceland implemented a new regulation on genetically modified organisms (GMOs) that requires any product which contains more than 0.9 percent materials produced from GMOs to be labeled and for manufacturers to maintain traceability records for five years. 
 
 2014201520162017 (Estimated)
Total Local Production    
Total Exports    
Total Imports    
Imports from the US
 		    
Total Market Size    
Exchange Rates    
(total market size = (total local production + imports) - exports)

Leading Sub-Sectors

Organic foods and produce.

Opportunities

Familiarity with and willingness to try American brands is high.  Organic products and fresh produce are popular with Icelanders, who are increasingly seeking out such options and demanding more variety.

Web Resources

Icelandic Federation of Trade (http://www.atvinnurekendur.is/english/)
Icelandic Food and Veterinary Authority – MAST (www.mast.is)
Ministry of Industry and Innovation (eng.atvinnuvegaraduneyti.is/)
Major wholesalers of U.S. products:
Aðföng (www.adfong.is)
Costco (www.costcto.is)
Innnes (www.innnes.is)
Íslensk Ameríska (ISAM) (www.isam.is)
Íslensk Dreifing (http://www.islenskdreifing.is/)
John Lindsay (www.lindsay.is)
Karl K. Karlsson (www.karlsson.is)
Kostur (www.kostur.is)
Olgerdin (www.olgerdin.is)
 

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.