The turnover in the Manufacture of Sports Goods sector in Turkey showed considerable fluctuation over the past decade. Starting from a low in 2014, the sector experienced significant growth, particularly between 2015 and 2018, achieving a year-on-year peak increase of 31.92% in 2018. The growth slowed down but remained positive until 2019, where there was a slight dip followed by minimal variation in 2020. The sector resumed growth in 2021 and 2022 at rates of 11.6% and 6.85%, respectively, and continued this upward trend into 2023 with a 6.35% increase. As of 2023, the turnover stood at 529.1 million New Turkish Liras. The Compound Annual Growth Rate (CAGR) over the last five years is calculated at 3.87%, reflecting a moderate but consistent increase.
Future projections for the sector appear optimistic, with an anticipated steady CAGR of 4.01% over the following five years, culminating in a forecasted turnover of 682.1 million New Turkish Liras by 2028. This expected result reflects a cumulative growth rate of 21.74% from 2023 to 2028.
Future trends to watch for:
- The impact of digital transformation and innovation in sports goods manufacturing.
- The role of sustainability and eco-friendly production practices in shaping consumer preferences.
- Potential effects of global economic factors and local regulatory changes on the sector.
