Turkey Alcoholic Drinks Market By Product Type (Beer, Vodka, Whisky, Wine, Rum and Others (Gin, Tequila, Brandy, Breezer, etc.)), By Packaging Type (Bottle and Cans), By Distribution Channel (Liquor Stores, On-Premises, Convenience Stores, Hypermarket/ Supermarket, Online and Others (Direct Selling, etc.)), By Region, By Company, Forecast & Opportunities, 2024-2032
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationTurkey Alcoholic Drinks Market By Product Type (Beer, Vodka, Whisky, Wine, Rum and Others (Gin, Tequila, Brandy, Breezer, etc.)), By Packaging Type (Bottle and Cans), By Distribution Channel (Liquor Stores, On-Premises, Convenience Stores, Hypermarket/ Supermarket, Online and Others (Direct Selling, etc.)), By Region, By Company, Forecast & Opportunities, 2024-2032
. The amount of whiskey increased from 1 million 132 thousand liters in February 2021 to 1 million 178 thousand liters a year later, and the amount of vodka increased from 837 thousand liters to 1 million 138 thousand liters.
The rise in young adults population is one of the key factors anticipated to fuel the market for Turkish alcoholic beverages during the forecast period. The demand for premium and super-premium products is also expected to grow, fueling the market for alcoholic drinks in Turkey. Further predicted to temper the Turkish alcoholic beverages market growth is the rise in awareness of the harmful effects of alcohol consumption. On the other hand, it is anticipated that the market for Turkish alcoholic beverages will experience slower growth during the forecast period due to the rising cost of the premium and super-premium products.
Shifting Preferences Towards Whiskey and Vodka Propels the Market Growth
In 2022, the inter-segment shift in alcohol consumption was accelerated by the 47 percent SCT (special consumption tax) increase in alcohol and the cost-driven price increases reflected on the labels. According to data from February 2022, it has been witnessed that consumers who stopped drinking wine and raki switched to high alcohol distilled beverages like whiskey and vodka rather than beer, despite an increase in the volume of drinks that were put on the market based on consumption. Therefore, the shifting preferences of consumers towards vodka and whiskey drive the market for alcoholic drinks in Turkey.
New Product Launch Propels the Market Growth
Companies are launching new products to increase revenue and market share, which fuels the market for alcoholic drinks in Turkey. Turkish manufacturers are focusing on innovations and new flavors to attract consumers. For instance, WhistlePig, an American brand, will launch its products in Turkey in 2022. With the three products categories, WhistlePig entered the Turkish market, such as WhistlePig Small Batch Rye 10, WhistlePig 12 Old World Rye, and WhistlePig 15 Estate Oak Rye.
Increasing Health Consciousness Among Consumers Impede the Market Growth
Market expansion is hampered by consumers' growing propensity to drink non-alcoholic beverages in Turkey. Additionally, vendors in the alcoholic beverage sector must invest a significant amount of money and resources and obtain legal certifications from the Turkish government to launch any new businesses. Therefore, processing all the factors mentioned above could take a very long time, further restricting the growth of the Turkish alcoholic drinks market. Additionally, the market's growth will be constrained by rising health consciousness among consumers during the forecast period.\
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Market Segmentation
Turkish alcoholic drinks market is segmented based on product type, packaging type, distribution channel, region, and company. Based on product type, the market is segmented into beer, vodka, whisky, wine, rum, and others (gin, tequila, brandy, breezer, etc.). Based on packaging type, the market is segmented into bottles and cans. Based on distribution channel, the market is segmented into liquor retailers, on-premises, convenience retailers, hypermarket/supermarket, online, and others (direct selling, etc.)..
Market Players
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