The food industry is predominantly known for its thin profit margins and intense competition with easy entry into markets. Therefore, recognizing the complexities for this industry is important.
Food and beverage industry saw steady growth in recent years and today has one of the highest shares in Turkish household consumption. Turkey’s young population with rising disposable income opens doors for opportunities and creates a big market with the recent highly supported private sector economy and favorable climate for food and beverage industry. In addition, growing number of grocery outlets (both domestic and foreign investment companies) contributed in the growth of this industry.
Local household is not the only market for Turkish food and beverage industry but exports are also positively impacted, reaching almost 7% of total exports.
However; ICS is also aware of the general food and beverage industry challenges such as;
Increasing costs (warehousing, labeling, raw materials, etc.)
Food safety compliance requirements
Shift in consumer diet demands and product preferences
Whether you are an individual restaurant, food products producer or a distributor, ICS can assist you enhance your success providing a wide variety of accounting, tax and consulting services to a full range of companies in the restaurant and food & beverage industries. Frequent and open discussions with our clients help us build better relationships to understand their needs, combined with our expertise and creative problem solving.