Cheese in Turkey: New research report available at Fast Market Research

From: Fast Market Research, Inc.
Published: Fri Apr 03 2015

In 2014, cheese achieved current value growth of 8% and retail volume growth of 1%. Value growth in 2014 was stronger than the 6% CAGR of the review period. This was the result of new products and advertising campaigns launched by the leading companies in the last two years of the review period, such as Ülker Icim Suzme Peynir (strained soft cheese) from Yildiz Holding AS. Additionally, the category’s growth was fuelled by an ongoing switch from unpackaged to packaged cheese. According to trade experts, in retail volume terms, unpackaged hard cheese and soft cheese together accounted for around 65% of total cheese sales in 2013. Thus, there is much potential for growth for packaged cheese in the country.

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Competitive Landscape

In 2014, BIM Birlesik Magazacilik AS remained the leading company in cheese thanks to its private label products holding a 20% value share of sales. The company also registered one of the highest increases in sales of 17%. BIM, a local hard discounter, is the leading grocery retailer in the country and owes its share increase to its policy of concentrating on its private label products and a sharp increase in the number of its outlets. BIM’s private label products are around 30% cheaper than branded products and due to the rapid expansion of the company in both urban and rural areas of the country its value share in cheese rose from only 8% in 2009 to 20% in 2014. Due to the leading position of BIM, private label held an overall value share of 23% in 2014, with chained grocery retailers such as Migros, Carrefour and Tesco Kipa also offering their own private label lines.

Industry Prospects

Over the forecast period cheese is predicted a value CAGR of 3% at constant 2014 prices compared to a 1% CAGR decline over the review period. This positive performance will be due to improved economic conditions in the country, along with the launch of more sophisticated new products, supported by advertising campaigns. Additionally, value growth will benefit from increasing unit prices over the forecast period as a result of rising milk prices, demand for better quality products such as organic cheese and the shift from unpackaged to packaged products.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Cheese industry in Turkey with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Cheese industry in Turkey, our research will save you time and money while empowering you to make informed, profitable decisions.

The Cheese in Turkey market research report includes:

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