The Turkey market accounts for nearly 1% of the Eastern European vodka market size. The market registered a compound annual growth rate (CAGR) of -18.7% during 2017-22 and -44.1% decline over 2021. According to GlobalData’s deep-dive analysis report, Turkey vodka market databook, unflavored vodka accounted for a notable share of 84% among various vodka segments in the market in 2022, followed by flavored vodka. The report also provides in-depth analysis and market forecast to 2027. Buy the report here.
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According to GlobalData’s company and brand analysis, Diageo, Bacardi and Pernod Ricard Group held significant shares in the Turkey vodka market in 2022. Concurrently, Binboa, Istanblue and Bazooka led in terms of brand market share. Diageo had the leading market share by volume in 2022. Companies operating in the Turkey vodka market continue to use innovation to target gaps in product offering. Continuous tracking of market size and company performance is important to help competitors capture and maximize profits.
GlobalData’s channel analysis reveals that food & drinks specialists were the key channel of purchase for vodka, along with on trade. Also, hypermarkets & supermarkets recorded a notable growth during the COVID-19 pandemic, as consumers were forced to stay at home due to restricted movement opportunities.
Food & drinks specialists constituted the highest market share by volume in 2022. Consumers preferred this channel for its product assortment and competitive pricing. On trade was the next preferred channel in the Turkey market.
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Among the top Eastern European markets, Poland accounted for the highest volume share in 2022, followed by the Ukraine, Turkey, the Czech Republic, Slovak Republic, Hungary, and Romania.
With a growing number of consumers seeking to experiment with novel products, manufacturers and brands need to constantly innovate their flavours and formulations to remain relevant and competitive. Additionally, the popularity of e-commerce has made it easier for shoppers to compare product features and offerings across different brands.
To further understand and explore GlobalData’s insight into the vodka category and market forecast to 2027, buy the report here.
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