The import of cocoa and cocoa preparations to Turkey stood at 615.71 million USD in 2023. Over recent years, the import value has experienced fluctuations, with year-on-year increases and decreases reflecting market variability. In 2023, the year-on-year increase was 2.25%, indicating modest growth. The CAGR over the last five years leading up to 2023 was 3.94%, demonstrating a general upward trend compared to the previous decade.
According to forecasts, the import value is expected to continue increasing, reaching 679.41 million USD by 2028. The forecasted 5-year CAGR stands at 1.55%, which, although lower than recent years, suggests continued growth. The forecasted 5-year growth rate is 8.02%.
Future trends to watch for include the impact of global cocoa supply conditions, fluctuations in Turkey's economic health affecting import capacity, and changes in consumer demand for cocoa and cocoa products within Turkey.
