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 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.
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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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.
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Fine Wines/Champagne and Spirits
This is the aggregation of fine wines and luxury spirits.
See All of Our DefinitionsThis report originates from Passport, our Fine Wines/Champagne and Spirits research and analysis database.
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