Fast Market Research

"Turkey Food & Drink Report Q1 2014" Published

Fast Market Research recommends "Turkey Food & Drink Report Q1 2014" from Business Monitor International, now available


Boston, MA -- (SBWIRE) -- 01/08/2014 -- Featuring a large, youthful population armed with rising spending power, Turkey continues to offer a dynamic consumer base for growth in food and drink sales over the medium term. Bearing in mind that informal independent stores still account for the majority of food sales, the trade-up to organised food retailing forms the backbone of our long-term view on Turkish retail. Representing just over 70% of GDP in 2012, private consumption was the main driver of economic growth in Turkey in 2013. However, we think the current pace is unsustainable for several reasons, and expect a slowdown in private consumption to be the biggest factor behind decelerating headline GDP growth in 2014.

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Headline Industry Data

- 2013 food consumption (local currency) growth = +9.6%; compound annual growth 2013 to 2017= +7.9%.
- 2013 alcoholic drinks volume sales = +2.5%; compound annual growth 2013 to 2017 = +2.4%.
- 2013 soft drinks volume sales = +6.1%; compound annual growth 2013 to 2017 = +4.5%.
- 2013 mass grocery retail sales = +12.6%; compound annual growth 2013 to 2017 = +9.6%.

Key Company Trends

Turkey Confectionery Sector Attracts International Investors: Turkey's confectionery industry is among Europe's most exciting, with great opportunities for growth. This largely explains why Turkey-based Yildiz was confident enough in autumn 2013 to pursue a major share sale of 20% in its confectionery arm Ulker at a time when investors have been generally more cautious over emerging market equities. Confidence in Turkish markets and the lira currency (both selling off of late) has been affected by the prospect of the US tapering off its quantitative easing programme. It is therefore a reflection of the confidence in Ulker's business, its fundamental growth prospects and that of the sector it operates in (confectionery) that the secondary share offer was three times oversubscribed according to the Financial Times - raising about US $430mn in the process.

Anadolu Efes Struggles in Turkey: In November 2013 Anadolu Efes stated that it is struggling with the impact of new regulations in its key beer markets in Turkey and Russia, with year to date beer volumes dropping by 13.5%. Anadolu Efes expects the Turkish beer market to decline at a rate in the high-single digits, reflecting the expected impact of the changes in the regulatory environment, and higher prices.

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