The Food, Beverages and Tobacco Value Added in Turkiye exhibited fluctuations from 2013 to 2023, peaking in 2014 and experiencing significant declines in recent years. The value stood at 9.57 in 2023. Analyzing trends shows that the sector faced pronounced volatility with notable drops in 2017, 2018, 2020, and 2021. This period was marked by occasional rebounds, yet the overall pattern reflects a downward trend.
From 2022 to 2023, the sector saw a 1.52% decline year-on-year, following a slight 1.45% increase the previous year. Looking over the last five years, the compound annual growth rate (CAGR) was -2.44%, underscoring a consistent contraction. Forecasts indicate continued decline with a five-year negative CAGR of -1.18% projected through 2028, presenting an ongoing challenge for the sector.
Future trends to watch for:
- Focus on sustainability and eco-friendly practices, which could drive changes in production and consumer preferences.
- Potential impacts of regulatory shifts and economic stability on the sector.
- Advancements in technology and automation, which may influence efficiency and cost structures.
