Edible oils is expected to record a considerably higher growth rate in 2020 compared to the end of the review period as consumers have to cook more of their meals at home. As people are restricted to their homes during lockdown and through a lingering reluctance to return to crowded places, they will be eating and therefore preparing more meals at home, many of which use edible oils as essential ingredients.
Larger pack sizes are becoming more popular with consumers in Turkey because they offer better discounts and promotions, and also because larger packs last longer, and this means that consumers will not have to shop quite so frequently. This is a particular bonus during the COVID-19 pandemic as consumers would rather avoid entering crowded places where possible.
Although e-commerce will continue to occupy a very small value share of edible oils in 2020, it is expected show significant growth in 2020. The growing popularity of e-commerce is partly due to consumers’ reticence to visit crowded spaces during the COVID-19 pandemic, but is also driven, in part, by the growing popularity of larger pack sizes which are heavy to carry.
Sources indicate that retail sales are expected to begin a process of normalisation in 2021 in the forecast period, as retail volume growth is expected to lower to a rate more similar to that of the end of the review period after the significant spike in growth expected in 2020. This is because, as the effects of COVID-19 subside, consumers are expected to return to their usual pre-COVID-19 shopping and consumption habits.
Olive oil is expected to demonstrate strong growth in the forecast period. An initial decline in growth is expected in 2021 as retail sales stabilise following the spike caused by COVID-19 expected in 2020.
The COVID-19 pandemic has increased hygiene sensitivity in consumers in Turkey. This is expected to affect buying habits in Turkey as consumers will be more likely to opt for well-known and trusted big name branded products.
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Understand the latest market trends and future growth opportunities for the Edible Oils industry in Turkey with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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This report originates from Passport, our Edible Oils research and analysis database.
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