The number of high growth enterprises in the footwear sector in Turkey experienced a marked decline from 209 units in 2014 to 74 units in 2023, indicating a challenging environment for these enterprises. From 2018 onwards, the sector has seen a consistent downward trend, with a significant year-on-year decrease, highlighted by a sharp fall in 2020 where units dropped by 34.72%. The most recent data from 2023 shows a year-on-year variation of -15.91%, with a compound annual growth rate (CAGR) of -15.62% over the last five years.
Future trends to watch include a continued decline, with forecasts predicting the number of high-growth enterprises dwindling to 0 by 2028. This trend suggests a challenging future unless substantial shifts occur in market dynamics, economic conditions, or industry innovation strategies.
