The raw sugar equivalent market in Turkey stood at 2.58 million metric tons in 2023. From 2014 to 2023, the market showed a steady increase with varying year-on-year growth rates. Notably, the year-on-year growth rate hovered around 0.55% from 2021 to 2023, indicating a period of stability. The compound annual growth rate (CAGR) over the last five years (2018-2023) was 0.46%, reflecting moderate long-term growth.
Future trends to watch for:
As we look ahead to 2028, the forecasted CAGR is 0.39%, suggesting that the market will continue to grow, albeit at a slightly slower pace. Factors to monitor include changes in consumer preferences, potential regulatory impacts, and developments in agricultural practices that could influence production and market dynamics. Monitoring these aspects will be crucial for anticipating market shifts and opportunities.
