The value added of food, beverages, and tobacco in Turkey, expressed as a unit of GDP, has shown a generally declining trend since 2013. The value in 2023 stood at 1.89, signaling a consistent decline from prior years. Notably, the year-on-year variation for 2022 and 2023 was -0.99% and -0.98%, respectively. The compound annual growth rate (CAGR) over the past five years was -1%, indicative of an average yearly decline. Looking forward from 2024 to 2028, the forecasted CAGR is projected at -0.84%, amounting to a 4.12% overall decline.
Future trends to watch for include:
- Potential impact of economic policies on the sector.
- The effect of global market conditions on local production and consumption.
- Changing consumer preferences towards healthier and sustainable food options.
