Turkiye: Food Processing Ingredients Annual

Turkiye’s food and beverage sector depends on domestic and imported ingredients, a large portion of which are sourced from Europe. European ingredients enjoy zero or low import duties under preferential trade agreements, as well as lower freight costs. The sector, which boasts nearly 60,000 businesses, continues to grow in response to steady consumer demand for processed food products. Continued high inflation and the devaluation of the Turkish lira (TL) in 2023 resulted in important changes in consumer purchasing behavior in Turkiye. There is a noticeable shift from branded products to economy priced or private label.