Turkiye’s fast moving consumer goods FMCG retail has grown by 85 percent in the first eight months of 2022 from a year ago, reported NielsenIQ, the leading global information services company.
Over the same period, the growth in the global FMGC industry was only 6 percent, the NielsenIQ research showed.
Turkiye strongly distinguishes itself from other countries with its positive volume performance, said Didem Şekerel Erdoğan, general manager of NielsenIQ Turkiye.
“When we look at the FMCG growth in Turkiye, especially the food category, we see that the snacking and beverage groups are heading growth under food with their strong volume and turnover performance,” she noted.
The growth trend in food is not actually a new or short-term trend,Erdoğan furthered. “If we look at the compound annual growth figures (CAGR) since 2015, we see that the food category grew by 19 percent, agricultural products under food by 19.4 percent, and wheat products by 24.3 percent,respectively.”
NielsenIQ Turkiye retail services director Serhat Sükan said that e-commerce increased its weight in the total FMCG throughout the world during the pandemic period.
The weight of e-commerce in Turkiye, which was 4 percent of total FMCG in 2020,increased to 5.7 percent in 2021, according to Sükan.
“It maintained its growth momentum in the first 8 months of 2022 and recorded a turnover growth of 74 percent,” he said.