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Turkey Food and Drink Report Q4 2010
Business Monitor International, Aug 2010, Pages: 62
The Turkey Food and Drink Report provides industry professionals and strategists, corporate analysts, food and drink associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Turkey's food and drink industry.
Turkey's short-term consumer spending outlook emphatically distinguishes it from the rest of emerging Europe, with trends far detached from a region that for the most part has been systemically negatively affected by the economic turbulence of the past 18 months.
Turkey is expected to be one of Europe’s strongest performing economies over the next decade. Able to call on a dynamic long-term economic outlook (by 2019 its per capita GDP is expected to resemble that of Portugal’s, according to our Europe team), a business friendly regulatory environment and a growing population already in excess of 70mn, Turkey is likely to emerge as one of the world’s highest potential consumer markets over the next decade.
Headline Industry Data
- 2010 per capita food consumption +6.13%=; forecast to 2014 =+39.76%
- 2010 beer volume sales = +4.36%; forecast to 2014 = +22.06%
- 2010 mass grocery retail sales = +18.06%; forecast to 2014 = +68.41%
Key Company Trends
Discount Retail Outperforming – Discount retail sales continue to perform strongly with the leading players laying down significant expansion plans. In May 2010, the rapidly growing Turkish discount retailer Diasa put forward plans to launch 300 new stores by year-end 2010. One of the much vaunted ‘E7’ emerging markets (along with Brazil, China, India, Indonesia, Mexico and Russia), we believe a strong case can be made for Turkey’s mass grocery retail industry to be considered emerging Europe’s most promising.
In April 2010, Turkey’s leading discount retailer BIM Birlesik Magazalar AS announced its aim to grow annual sales by 25% in FY10 (12 months to December 31 2010), with growth largely being driven by aggressive organic store expansion. Sometimes called the ‘Turkish Aldi’ due to the similarity of its business model to that of the German discounter, BIM reported above consensus FY09 headline year-onyear (y-o-y) earnings growth of 86% to TRY213mn (US$101.94mn) with annual sales increasing by 25%.
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