Fresh Counter Meat Showcase Most Sought after Meat in Turkey: Ken Research

Ken research announced its recent publication on “Consumer and market insights: Meat in Turkey”. It provides a comprehensive analysis on the meat market of Turkey. The report gives overall market value with growth analysis, the value and growth analysis of each category. Further it gives a detailed account of the leading players of the market , distribution data and packaging data. It also provides consumer level trends and future outlook.

Turkey is a transcontinental country is Eurasia, mainly in Western Asia and little part in the southeast Europe. Turkey has a strong economic structure, it is classified among the developed economies of the world and is defined as an emerging economy by IMF. It is the 17^th largest economy and is mainly service based . It is among the word’s largest producer of agricultural products; textiles, transportation equipment construction materials, home appliances and consumer electronics.. The nation is the founding member of OECD and joined EU custom union in 1995. Post global recession where many countries struggled to get back on track, turkey grew at an impressive rate of about 8%. This nation is a newly industrialized one and is classified as an upper middle income country by the World bank.. In 2009 Turkish government introduced a number of policies to stimulate the economy stuck in global recession. These included the tax cut on automobiles, home appliances and housing . Due to this , the production of consumer goods increased by over 7%. Turkish stock market has also been doing well as the prices of share doubled over the course of 2009.

Despite these positive scenarios in the nation, it suffers from a great deal of problems as well. The inflation rate is quite high . As for 2015, Turkey’s inflation rate was about 7.67%, which is quite high. Further, the unemployment rate is higher than the world average. Turkish average unemployment rate is 9.2%, 2.3% higher than the world average. Among the unemployed, a significant number of people have experienced continuous periods of unemployment, that exceeded one year or more. Turkey also has high trade deficit , its imports is valued equal to over 30% of its GDP while exports’ value is roughly 28% of the GDP and the net exports indicate a trade deficit of 22.7 billion USD. It has also has a moderate ease of doing business ranking. The business environment is declining as Turkey slipped 6 spots on the ease of business ranking index.

Turkey has a high population with average population density. It also has slightly high population growth rate as compared to the world median. Majority of the Turks live in the Urban areas as rural population makes up about 26% of the population and is steadily declining. The net migration rate is also high , as about 2 million people immigrated in the country as per 2015. It also has a low birth rate and a low death rate. Turkey is at par with the world level of educationattainment and has a high literacy rate.

The meat market in turkey is expected to see a stable growth in the upcoming years. The main sub segments of the meat industry is Ambient Meat, Chilled Raw, Packaged Meat – Processed, Chilled Raw Packaged Meat – Whole Cuts, Cooked Meats – Counter, Cooked Meats – Packaged, Fresh Meat (Counter), Frozen Meat. In 2013, fresh counter meat was the most sought after . However, in the study period I.e. 2015-2020 Chilled raw packaged meat is expected to see the fastest growth. The major distribution channels are hyper market and supermarket. As the nation has rapidly urbanized and health awareness has risen products which are easy to cook and have low fat have been getting preference by the Turkish customers.

Topics Covered in the Report