Turkey's cow milk butter production experienced varied growth patterns from 2013 to 2023. In 2013, the year-on-year growth was strong at 4.53% but saw fluctuations with declines in 2015 (-0.37%) and 2016 (-0.85%). It rebounded significantly in 2017 with a growth of 13.56%. By 2023, the production reached 238.08 thousand metric tons, marking a modest 2.27% increase from the previous year. The Compound Annual Growth Rate (CAGR) over the past five years stands at 2.49%, indicating steady growth despite occasional declines.
The forecast for the upcoming years indicates a continuous, albeit slower, growth trajectory, with a projected CAGR of 1.73% from 2024 to 2028, leading to a total growth of 8.94% over the five-year period.
Future trends to watch for:
- The impact of global economic conditions on production costs and export potential.
- Advancements in dairy farming technology and practices to improve yield efficiency.
- Changes in domestic consumption patterns and dietary preferences.
- Potential government policies or subsidies aimed at boosting agricultural and dairy production.
