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Turkish Food Market Grows, the Sector Gets Closer to Major Target

n line with Turkey’s rapid transition from an agricultural society to an industrial society, the agriculture sector has been changing and improving. Turkey’s food industry has registered a steady growth in recent years, with the Turkish consumers becoming increasingly demanding, driven by the multitude of choices offered by mass grocery retail outlets. Rising disposable income and changing consumption patterns, along with the increase in the number of females in full-time employment, have all led to an increase in interest as regards packaged and processed food, such as ready-to-eat meals and frozen food. Escalating urbanization and employment play a decisive role on food consumption. As the time spent at work and on the road gets longer, the energy and duration allocated to food preparation diminishes. Consumers mostly opt for the most practical and quickest solutions. As the sector is getting more sophisticated, Turkey is becoming one of the largest markets for baked goods with its bread – an important element of the Turkish diet – leading to some of the highest rates of per capita consumption in the world. On the other hand, subsector dairy products including milk, yoghurt, cheese and ayran (a drink made of yoghurt and water) form an integral part of the traditional Turkish diet. Traditionally, artesian, unpackaged products have dominated the Turkish dairy market, holding back widespread growth but also posing a potential to the investors. The food, beverage and tobacco industry also has the highest share in household consumption in Turkey, with 27 percent in 2010. The strengths of the industry include the size of the market in relation to the country’s young population, a dynamic private sector economy, substantial tourism income and a favorable climate. The food, beverage and tobacco industry also has the highest share in household consumption in Turkey, with 27 percent in 2010. The strengths of the industry include the size of the market in relation to the country’s young population, a dynamic private sector economy, substantial tourism income and a favorable climate. The food and beverage industry contributes to Turkey’s exports as well, achieving USD 6.7 billion — accounting for around 6 percent of the total exports in 2010.

Turkey’s food, beverage and tobacco industry has been one of the most attractive areas for foreign investors. It has attracted tremendous amount of foreign direct investment (FDI), attracting around USD 4 billion over the past ten years, as it offers lucrative investment opportunities to global investors.

The food sector is so advanced by now that it is possible to get chopped tomatoes, crushed garlic, ready-made salad dressing and all kinds of jam. And it is not only working people who prefer such products. Quite a few others choose them for their taste rather than their practicality. Fruit and vegetable products, the most important subsector of the food sector, embodies heaps of products from canned food to fruit juice, beverages and frozen fruits-vegetables. The sector is becoming more active in production and export. Exports grew by 7.8 % to $ 1.2 billion in 2011. Now everyone is set for the 2023 target of $ 4 billion. The pertinent road map is ready: $ 1.9 billion by 2013 and $ 2.9 billion by 2018 before hitting the eventual target of $ 4 billion, which will correspond to a share of 2.10 % out of the sector’s world trade figure likely to be $ 192 billion by 2023. Turkish food market grows, the sector gets closer to major target Food Turkey_Layout 1 25.06.2014 16:29 Page 26

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