The production in Turkey's sports goods manufacturing sector has shown significant growth over the past decade. Since 2013, there has been a general upward trend, with notable increases in 2015, 2016, and 2017. By 2023, the sector reached 474.4 Million New Turkish Liras. While there were minor dips in 2014 and 2019, the sector exhibited resilience and growth regained momentum in subsequent years.
In the last two years, the year-on-year variation shows moderate growth: 6.88% in 2022 and 6.37% in 2023. Reflecting the longer-term perspective, the five-year CAGR has slightly decreased to 4.36%, indicating a slowdown in growth pace but still maintaining positive momentum.
Future trends to watch for:
- Projected steady growth with a 4.06% CAGR over the next five years until 2028.
- Overall, the sector is forecasted to grow by 22.04% by 2028, demonstrating a promising outlook.
- Increased global demand for sports goods and potential technological advancements in manufacturing could further bolster production capacities.
