PROSPECTS AND OPPORTUNITIES
Challenging times ahead for wines/champagne and spirits
Retail sales of fine wines, champagne, and spirits in Turkey are projected to decline in constant value terms (2024 prices) over the forecast period, alongside an anticipated increase in current value, driven by rising prices. Even affluent consumers may need to exercise caution with their discretionary spending habits, due to exceptionally high inflation rates and ongoing increases in consumption taxes.
Luxury Spirits will outperform fine wines
Luxury spirits are expected to outperform fine wines over the forecast period. One key factor behind this trend is the shift among lower and middle-income consumers towards socialising at home with family and friends, rather than in bars and restaurants.
Gen Z is expected to reshape the industry
The evolving behaviours of younger generations of consumers in Turkey are significantly reshaping the alcoholic drinks industry. Gen Zs, for example, are drinking less than previous generations, demonstrating a clear preference for quality over quantity.
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Overview:
Understand the latest market trends and future growth opportunities for the Fine Wines/Champagne and Spirits 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.
If you're in the Fine Wines/Champagne and Spirits industry in Turkey, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Fine Wines/Champagne and Spirits in Turkey report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Fine Wines/Champagne and Spirits in Turkey?
- Which are the leading brands in Fine Wines/Champagne and Spirits in Turkey?
- How are products distributed in Fine Wines/Champagne and Spirits in Turkey?
- How important is tourism in evaluating demand for Fine Wines/Champagne and Spirits in Turkey?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
- Where is future growth expected to be most dynamic?
Fine Wines/Champagne and Spirits in Turkey - Category analysis
KEY DATA FINDINGS
Robust growth in 2024, despite steep price increases
Pernod Ricard Türkiye continues as leading player
Challenging times ahead for wines/champagne and spirits
Luxury Spirits will outperform fine wines
Gen Z is expected to reshape the industry
Luxury Goods in Turkey - Industry Overview
Luxury goods in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
DISCLAIMER
The following categories and subcategories are included:
Fine Wines/Champagne and Spirits
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- Fine Champagne
- Other Fine Wine
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- Luxury Brandy and Cognac
- Luxury Whiskies
- Other Luxury Spirits
Fine Wines/Champagne and Spirits
This is the aggregation of fine wines and luxury spirits.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Fine Wines/Champagne and Spirits research and analysis database.
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