During the forecast period, demand for chocolate spreads is expected to remain under pressure as the products in the category become increasingly unaffordable due to the depreciation of the Turkish lira and the impact of this has on all imported products and many of the products that are manufactured locally using mainly imported ingredients. With the price of imported cocoa likely to continue increasing, even the most affordable options in chocolate spreads are expected to become increasingly expensive as the forecast period progresses, with recent low agricultural yields in cocoa-exporting countries likely to exacerbate this problem by inflating the commodity price of cocoa generally at global level.
While the prospects for chocolate spreads to record positive sales growth over the forecast period remain limited, it is expected that demand for nut and seed based spreads will increase significantly. These two opposing trends are linked, specifically in that many of those who can no longer afford to consume chocolate spreads on a regular basis due to high and rising unit prices are likely to turn to nut and seed based spreads instead.
As mentioned above, one of the major background issues impacting consumer demand for honey in Turkey in recent years has been the numerous unanswered questions that remain over the quality and content of much of the honey sold in the country. This applies mainly to low-cost honey of potentially dubious origin and the category’s leading brands have so far managed to avoid any major issues with their products all seen or the compositional quality of the products they offer for retail sale.
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Understand the latest market trends and future growth opportunities for the Sweet Spreads 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.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Sweet Spreads 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.
Excludes: Any products sold unpackaged or in bulk; margarine, butter substitutes, vegetable-oil based, yeast-based, and meat/seafood-based spreads.
See All of Our DefinitionsThis report originates from Passport, our Sweet Spreads research and analysis database.
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