Local FMCG market expands 11 pct in 9 months: Research

ISTANBUL

The Turkish fast-moving consumer goods (FMCG) market excluding tobacco and alcohol grew by 10.7 percent in volume and 75.4 percent in turnover in the first 9 months of 2024, according to a report by Nielsen IQ.

Shoppers focus only on basic needs and buy discounted products in order to manage the effects of price increases, the study found.

The global FMCG market has shown a positive picture by showing positive volume growth for the last three quarters, said Didem Şekerel Erdoğan, Türkiye general manager and EEMEA e-commerce regional vice president at Nielsen IQ.

The top three categories that increased their turnover share the most with high growth performance in the first nine months of 2024 were ice cream, chocolate-covered products and household cleaners, she added.

The share of e-commerce in FMCG is 7 percent and it is estimated that double-digit growth will be seen in the near term. This reached 40 percent in South Korea, 35 percent in China and 20 percent in the U.S.

E-commerce in Türkiye has a 23 percent share in the consumer technology and consumer durables market, compared to its 7 percent share in FMCG, and there is still a long way to go in terms of FMCG, according to Serhat Sükan, director of Retail Services at Nielsen IQ.

The research also found that 24 percent of Türkiye’s population is made up of Generation Z, which is the largest generation in history, both in terms of numbers and overall influence on consumption.

Generation Z individuals in Türkiye spend an average of five hours a day on the internet, according to the research.