In 2020, the value sales of BFY products has gone up in line with the continuation trends witness prior to the pandemic. The increased health concerns of consumers during the COVID-19 pandemic have resulted in more consumers to shift towards reduced-sugar drinks which has greatly benefited low calorie cola carbonates and reduced sugar energy drinks in particular.
Following the outbreak of COVID-19, the value of the Turkish Lira against USD and Euro had depreciated. This has led to increased unit prices of BFY products, as a result of increased importation and products costs.
The COVID-19 pandemic has meant that many outdoor promotional events have had to be cancelled, which has therefore affected BFY beverages sales. For example, Red Bull Gida Dagitim ve Pazarlama Ticaret Ltd Sti organises a promotional event every summer, which helps the company boosts its sales.
In 2021 and beyond, BFY beverages is expected to demonstrate positive off-trade current value growth. However, over the duration of the forecast period, the product area will not see as strong growth as recorded in 2020.
As part of the recovery process in 2021, companies are expected to reintroduce outdoor promotion events as to market their brands, particularly within reduced sugar carbonates, energy drinks and RTD tea. The new product launches are also expected to focus on reduced sugar beverages with different flavours in order to meet the growing demand for refreshing beverages with both good taste and lower or 0% sugar content.
Over the forecast period, the share of the private label is expected to continue increasing with retailers investing on wider variety of reduced sugar and reduced caffeine products. As the financial consequences of the pandemic continue into the forecast period, with disposable incomes declining, may consumers will favour private label due to its significantly power pricing.
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