The milk production at the farm gate in Turkey experienced significant fluctuations between 2013 and 2023. Starting at $8.9 billion in 2013, it saw a sharp decline of 33.42% in 2014 before recovering to $7.97 billion in 2015. The next few years were marked by volatility, with a downward trend until 2018. Following that, recovery was apparent with steady growth, achieving $7.7 billion in 2023, reflecting a modest year-on-year increase of 2.17% and a 5-year CAGR of 1.55% leading up to 2023.
Key points from the analysis:
- Significant year-on-year volatility, with 2014 suffering a major drop.
- Overall, the period between 2018 and 2023 showed a gradual recovery.
- Forecasts project continued growth, expecting the production value to rise to $8.49 billion in 2028 with a forecasted 5-year CAGR of 1.55%.
Future trends to watch for include improvements in dairy farming techniques, impacts of climate change on agriculture, and potential government policies supporting the dairy sector. Continued economic fluctuations and consumer demand changes will also play critical roles in future trends.
