The beauty and personalcare value chain in Turkey
Although the Turkish economy has slowed down, current value sales of total
beauty and personal care category has grown with a CAGR of 10.9% from 2013 to 2018 and reach TRY8.0 billion, based on Deloitte’s estimation. While the end-market consumption is import-driven, recent currency fluctuations significantly raised unit prices of imported items, encouraging consumers to prefer local brands that target the mass market rather than the premium segment. As the purchasing power of consumers decreases, the expenditure per capita in USD remains much lower compared to other G20 countries. However, the expenditure per capita is expected to increase both in local currency and U.S. dollar terms as Turkey’s youth population continues to grow, especially as the population becomes more urban and the economy recovers.