Turkey's footwear sector has experienced fluctuations in the number of young high growth enterprises, known as gazelles, over recent years. From 34 in 2016, the number dropped to 28 in 2017, and demonstrated alternating growth and decline up until 2020, which saw a significant low of 10 enterprises. The sector showed recovery in subsequent years, with 29 gazelles in 2023. The forecast through 2028 predicts a stabilization at around 28 enterprises per year.
- Year-on-year variation in 2023: 16%
- Last 5 years CAGR (2018-2023): 42.6%
- Forecast 5-year CAGR (2024-2028): 0%
Future trends to watch for include the impact of economic conditions on entrepreneurial activity, shifts in consumer demand, and the effectiveness of government support for start-ups within the footwear industry. Monitoring these factors will be crucial for understanding the potential for growth among young, high-growth enterprises in Turkey's footwear sector.
