Forecast: Production in Restaurants and Mobile Food Service Activities Sector in Turkey

Between 2013 and 2023, the production value in Turkey's Restaurants and Mobile Food Service Activities sector showed a generally strong upward trend, growing from 22.28 Billion New Turkish Liras in 2013 to 103.49 Billion in 2023. The only significant dip was observed in 2020 with a year-on-year decline of 10.9%, likely due to the global pandemic. Post-2020, the sector rebounded robustly, with a notable 24.87% increase in 2021. Overall, the Compound Annual Growth Rate (CAGR) over the last five years (2018-2023) was 13.29%, indicating continued expansion.

For the period from 2024 to 2028, forecasts suggest steady growth with a forecasted CAGR of 6.92% and a total increase of 39.75%, reaching 161.04 Billion New Turkish Liras by 2028. This slower pace compared to historical data implies a maturing market but still reflects positive outlook.

Future trends to watch for include:

• Potential impacts of economic fluctuations and inflation on consumer spending.
• Integration of technology and digital ordering systems in the food service sector.
• Expansion and market penetration of niche and upscale dining experiences.
• Changes in consumer preferences towards health-conscious and sustainable food options.