The wholesale of food, beverages, and tobacco sector in Turkey experienced steady growth from 2013 to 2023, with turnover rising from 200.13 Billion New Turkish Liras to 888.79 Billion New Turkish Liras. The increase in value shows both resilience and potential in the market, despite varying economic conditions.
From 2022 to 2023, the turnover grew by 11.64%. Looking at the past two years (2021-2023), the year-on-year growth rates were 15.53% and 13.31%, demonstrating a slight deceleration. The Compound Annual Growth Rate (CAGR) over the last five years (2018-2023) was 16.56%, indicating robust expansion.
The forecast suggests continued growth, reaching 1338.9 Billion New Turkish Liras by 2028. The forecasted five-year CAGR from 2024-2028 is 6.43%, implying slower but sustained growth, with a total growth rate of 36.55% by 2028.
Future trends to watch include increased market consolidation, technological advances in supply chain management, and shifts in consumer preferences towards healthier and sustainable products. Additionally, economic policies and inflation rates will be critical in shaping sector dynamics.
