Forecast: Number of High Growth Enterprises in Dairy Products in Turkey

In 2023, the number of high growth enterprises in Turkey's dairy products sector stood at 119 units, indicating a 2.46% decline compared to the previous year. Historically, the sector has seen a significant drop from 2014, where the number was at 201 enterprises. The most notable declines occurred in 2015 and 2016 with -15.92% and -26.04% respectively, while 2018 showed a temporary rebound with a 20.16% increase. Over the last five years leading up to 2023, the Compound Annual Growth Rate (CAGR) averaged -4.4%, reflecting a persistent downward trend.

Looking forward, from 2024 to 2028, the sector is projected to decrease at a CAGR of -1.24%, anticipating a further reduction of 6.03% in total enterprises. In 2028, the number is expected to decline to 109 enterprises, maintaining the sector’s overall downward trajectory.

Future trends to watch for include potential shifts in consumer demand towards plant-based and sustainable dairy alternatives, government policies affecting agricultural subsidies, and technological innovations in dairy production and supply chain efficiencies. These factors could impact the number of high growth enterprises in this sector moving forward.