The demand for beef meat in Turkey stood at 1.14 million metric tons in 2023. Over the past decade, the growth trend has shown moderate but consistent increases, with particularly strong growth in 2015 and 2017, marked by year-on-year variations of 6.38% and 5.64%, respectively. More recently, the growth rates have stabilized, with the yearly increases fluctuating between 1.25% and 1.29% during the period from 2019 to 2022, and leveling off at 1.15% in 2023. Over the last five years, the CAGR has averaged 0.99%, indicating a slight deceleration in growth.
Looking forward, the demand for beef is expected to continue its upward trajectory, albeit at a slower pace. The forecast for the next five years suggests a CAGR of 0.85%, translating to a cumulative growth rate of 4.32% by 2028. This indicates a future trend towards a more gradual growth in demand.
Trends to watch for in the future include:
- Changes in consumer preferences, potentially influenced by health trends or alternative protein sources.
- Economic factors such as inflation and income levels, which could impact purchasing power and consumption patterns.
- Government policies and trade agreements that may affect beef supply and pricing.
- Environmental concerns and sustainability practices which could reshape production methods and market dynamics.
