From 2014 to 2023, the cream market in Turkey demonstrated significant fluctuations, starting at 1.0 thousand metric tons and reaching 6.0 thousand metric tons in 2023. The years 2015 and 2016 showed rapid growth, with the market expanding by 200% and 66.67% respectively. However, 2018 saw a notable decline of 33.33%. Stability followed between 2020-2023 with a constant market size of 5.0-6.0 thousand metric tons. The compound annual growth rate (CAGR) for the last five years stood at 8.45%. Forecasts indicate a moderate growth trend, achieving a CAGR of 3.13% by 2028, with an overall growth rate of 16.67%.
Future trends to watch include:
- Potential market stabilization or slight increases driven by consumer preferences.
- Innovations and product diversifications could spur further growth.
- Impact of economic conditions and pricing on market demand.