The value added of food and beverages in Turkey has generally shown an upward trend from 2013 to 2023. Starting at 45.16 billion New Turkish Liras in 2013, it reached 128.91 billion in 2023. The CAGR over the past five years, ending in 2023, was 7.67%. Between 2019 and 2021, there was a noticeable slowdown, especially in 2020 with a slight decline of -0.2%. However, the growth picked up again, albeit at a slower rate.
Recent two-year analysis reveals a steady increase with 5.07% in 2022 and 4.73% in 2023. Looking ahead, forecasts predict moderate growth with a 5-year CAGR of 3.32% and an overall growth rate of 17.75% from 2024 to 2028.
Future trends to watch for include the impact of inflation rates, consumer behavior shifts, technological advancements, and potential regulatory changes in Turkey's food and beverage sector. The growth rate may stabilize, influenced by the macroeconomic environment and investment in innovation.
