FMCG market in Turkey - statistics & facts
Having by far the highest inflation rate in Europe, Turkish consumers have been struggling with significantly higher prices in the past few years. One of the most essential categories of fast-moving consumer goods, food, was particularly affected by the soaring inflation in the country. Even though it began to decline at a slow pace, the inflation rate for food stood at 68.1 percent in June 2024. This, however, did not seem to influence the sales in the food market, since its volume has been rising almost continuously.
Despite soaring inflation and the increasing prices of many products, the demand for most segments in the FMCG market in Turkey did not show significant signs of decrease. The majority of product categories are also expected to showcase steady growth in the upcoming years.
Most of the FMCG segments exhibit regular growth, except apparel
With over 85 million inhabitants, Turkey has a sizeable consumer base for the FMCG market. Accordingly, the sales volume and revenue in most categories followed an increasing trend. Despite a slight decrease in 2020, the revenue in the food market began to go up, reaching over 120.6 billion U.S. dollars in 2023. When it comes to the beauty and personal care market, most categories have seen positive developments. Especially, the personal care segment generated the highest revenue each year, amounting to over three billion U.S. dollars in 2023. On the other hand, the sales volume in the apparel market has been fluctuating and is forecast to decrease gradually in the next five years.Turkey’s FMCG exports
Since agriculture is one of the key industries in the country, the food sector has great importance for the international trade of Turkey. Correspondingly, food was the sector with the greatest exports in the FMCG market, having reached a value of nearly 30 billion U.S. dollars in 2023. That year, the category of edible fruits and nuts, peel of melons, or citrus fruits recorded the highest value in food exports, totaling about 5.4 billion U.S. dollars. In the case of beverages, the alcoholic drinks sector was not a strong export market for Turkey. In 2023, soft drinks exported from the country exceeded all the alcoholic drinks combined, at 290.3 million U.S. dollars.The dramatic increase in the consumption expenditure of Turkish households
As the prices of consumer goods have been rising due to the staggering inflation, Turkish households’ spending on non-durable goods relatedly increased. In the FMCG market, alcoholic beverages and tobacco recorded the highest inflation rate in 2023, with a consumer price index of 2,144.3. Hence, household expenditure in this category went up dramatically over the past five years, amounting to a peak of 672 Turkish lira per month in 2023. The case was not so different in the apparel and footwear market. The average household consumption expenditure on clothing and shoes more than doubled in 2023 compared to the previous year, adding up to over 1,300 Turkish lira per month.Despite soaring inflation and the increasing prices of many products, the demand for most segments in the FMCG market in Turkey did not show significant signs of decrease. The majority of product categories are also expected to showcase steady growth in the upcoming years.
