The seafood processing sector in Turkey has shown robust growth from 2013 to 2023, advancing from 1.7 Billion New Turkish Liras in 2013 to 16.61 Billion in 2023. Year-on-year variations demonstrate fluctuations, with significant increases in specific years such as 2018 and 2020, which witnessed growth rates of 58.92% and 36.87%, respectively. The 5-year Compound Annual Growth Rate (CAGR) up to 2023 stands at 21.93%, highlighting strong upward momentum.
For the forecasted period from 2024 to 2028, the turkey seafood processing sector is projected to maintain steady, albeit slower, growth. The forecasted 5-year CAGR is 7.12%, translating to a total growth of 41.07% over these five years.
- 2013: 28.31% YoY
- 2014: 21.95% YoY, 20.28% CAGR
- 2015: 28.14% YoY, 21.73% CAGR
- 2016: 15.28% YoY, 17.91% CAGR
- 2017: 26.56% YoY, 23.95% CAGR
- 2018: 58.92% YoY, 29.37% CAGR
- 2019: 21.24% YoY, 29.21% CAGR
- 2020: 36.87% YoY, 30.93% CAGR
- 2021: 20.28% YoY, 32.04% CAGR
- 2022: 17.78% YoY, 30.16% CAGR
- 2023: 14.66% YoY, 21.93% CAGR
- 2028: Forecasted 5-year CAGR: 7.12%, 5-year growth rate: 41.07%
Future trends to watch for include potential impacts from changes in environmental policies, advancements in processing technologies, and shifts in consumer preferences towards sustainable seafood options. The industry should also monitor international trade dynamics affecting export markets.
