The data on household expenditure on food and soft drinks in Turkey shows a significant upward trend. From 2013 to 2023, the value increased sharply from 243.13 Billion New Turkish Liras to 3341.6 Billion New Turkish Liras. The year-on-year variation indicates a major acceleration in 2022 with a 120.7% increase and 53.55% in 2023. The compound annual growth rate (CAGR) over the past five years is 47.52%, reflecting strong growth momentum.
Noteworthy trends over the last two years include the surge in 2022 and continued robust growth in 2023. The forecasted data from 2024 to 2028 suggests an average annual growth rate of 14.92%, predicting the value to reach 9018.2 Billion New Turkish Liras by 2028, which marks a 100.41% growth over five years.
Future trends to watch for include inflation rates, economic stability, consumer income growth, and market responses to changes in food and beverage consumption patterns. Additionally, the impact of global economic conditions and domestic policies on the food expenditure sector will be crucial.
