From 2022 to 2029, the market for plant-based foods is anticipated to expand at a CAGR of 12.4 percent, reaching $95.52 billion. Consumers’ growing distaste for animal protein, the rise of the vegan population, and the expanding number of venture capital investments in plant-based food businesses are some of the factors driving the expansion of this sector. People start looking for alternatives as soon as they discover the consequences of lactose on their bodies, how much water cows eat during milk production, and how much CO2 they release.
Thus, the two main elements that have been fuelling the market’s growth are health and global warming awareness. Established about two years ago, Nilky has been a disruptive brand in Turkey since the day of its inception. Creating a local brand that is affordable for the masses and the same in quality as foreign brands, the founders developed this plant based milk brand and in almost no time, became the market leader across the biggest retail channels.
Product Range & Uniqueness
While the firm initially started with Almond, Oat, and Hazelnut milks, the company soon found an opportunity to expand and launch the Vegan Salep product which was the first turnkey product for the firm. Soon after, the firm also launched unsweetened almond and chocolate hazelnut milks.
Another unique idea which set the company apart was launching the most popular Almond milk in 500 ml packs in the domestic market. “Nilky is different from other brands in two ways. We wanted our products to be more milk-like in texture so that we could provide a reliable alternative to customers who really like the taste of the milk. Also, as you may know most plant-based milk brands have Barista versions of their products specifically engineered to make it foam better in coffees with milk.
We worked very hard on our product to be compatible with coffee in foam and taste wise without including chemical ingredients like other brands”, shares Caner Peltekci, Co-Founder & CMO.
The firm posits that the key objective is to become well-known and appreciated by consumers to demonstrate that the brand constantly pays attention to their needs and creates new items to meet those needs. When buyers mentioned that they want more products without sugar, for instance, Nilky used that information to create Almond Unsweetened. Another situation where the business received input was about the 500 ml packaging, which customers felt was too little to consume in less than five days and was too big for the 1L packaging.
Nilky caters to two different sets of clients, namely the retailers that buy directly from the brand, and the end users who buy Nilky’s products through the retailers. In order to ensure that everyone is satisfied, the brand creates specific strategies to ensure that the relationship remains strong. Retailer engagement is necessary to ensure that the brand can continually stay on shelf and increase sales. On the other hand, the purchase and popularity of the product among the end users would determine the success of the brand. Overcoming challenges in this arena, the brand has created a solid base.
Nilky’s Priority Is To Prove Itself As The Most Innovative Brand In The Plant-Based Product Category In The Region Over Time
Products produced by Nilky are manufactured by one of Turkey’s biggest contract manufacturers. As a result, the brand’s capacity and stock issues are nonexistent. One of the most challenging problems is getting these products listed in retail stores and convincing stores of the demand for them, particularly if they are going to offer the products for the first time. After placing the products on the shelves, the team creates sales-boosting methods using both in-store and out-of-store marketing initiatives.
Future Aspirations
The Nilky team consists of six members including the two co-founders, Emre Sozen (CEO), and Caner Peltekci (CMO). Both these dynamic individuals bring years of experience across multiple fields and together with the team, continue to disrupt the market. Owing to their excellence of idea and dedication to the brand, Nilky has grown faster than anticipated.
“Our priority is to prove ourselves as the most innovative brand in the plant-based product category in the region over time. As Turkey’s only local plant based milk brand, we are trying to develop new products and expand our categories on dairy alternatives. We are excited about the ready to go almond milk latte product that we will be launching in the upcoming months. Also, the R&D process continues on our vegan yogurt project, which is an even bigger project. Both of these products will be a first in Turkey and the region”, further adds Caner.
While Nilky is currently exporting to the UAE, the firm continues efforts to enter the South East Asian markets such as China, India, Indonesia, Philippines, and others, in the first half of 2023. Nilky’s aim is to expand the plant based market in Central and South East Asia, the Middle East, North Africa and the Balkans under the leadership of the Nilky brand.
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