Based on the provided data, the demand for groundnuts in Turkey is forecasted to grow steadily from 208.0 Thousand Metric Tons in 2024 to 221.0 Thousand Metric Tons by 2028. This indicates a consistent year-on-year increase in demand for groundnuts. Comparing the forecast for 2024 to the actual value in 2023, there is a noticeable upward trend.
Year-on-year variation from 2024 to 2028 shows a steady growth pattern: from 2024 to 2025, the increase is 1.44%; from 2025 to 2026, it is 1.90%; from 2026 to 2027, the growth continues at 1.40%; and from 2027 to 2028, demand rises another 1.38%. Analyzing the last two years, the average increase per year is approximately 1.5%. The compound annual growth rate (CAGR) over the five-year period from 2023 to 2028 averages at around 1.55% per year.
Future trends to watch for include potential impacts from climatic conditions affecting agricultural yields, changes in consumer preferences towards health-conscious dietary choices, and international trade dynamics. Additionally, technological advancements in agricultural practices could further influence production efficiency and, consequently, the supply-demand balance in the groundnut market.
