The Food and Beverages sector in Turkey has shown fluctuations over the past decade. Between 2013 and 2016, the value added exhibited a modest increase, despite a dip in 2015. Significant declines were notable in 2017 and subsequent small declines continued until 2023, reaching 10.91, a decrease from 11.14 in 2021 and 11.03 in 2022. The Compound Annual Growth Rate (CAGR) over the last five years indicates a consistent downturn, averaging -1.05% per year. From 2024 onwards, the forecast predicts a continued decline with a five-year CAGR of -0.88%, suggesting value added will further drop to 10.32 by 2028.
Future trends to watch for:
- Potential impacts of economic policies on the sector.
- Opportunities for innovation in food processing and beverage manufacturing.
- Shifts in consumer preferences towards healthier and sustainable options.
- Supply chain adjustments and resilience post-pandemic.
