Forecast: Cocoa Beans Demand in Turkey

From 2014 to 2016, the demand for cocoa beans in Turkey showed a declining trend. A notable recovery and growth occurred in 2017 with a significant 19.42% increase. However, this was followed by a minor dip in 2018. From 2019 to 2023, the trend stabilized with a steady year-on-year increase, culminating in a 0.8% rise by 2023, with the demand standing at 126,000 metric tons. The CAGR from 2019 to 2023 was consistently positive, with a variation rate peaking at 3.61%.

The forecast for 2024 to 2028 predicts a gradual increase, with a forecasted CAGR of 0.62%, and the total demand is expected to reach 131,000 metric tons by 2028. This indicates a continued, albeit slow, upward trend in cocoa bean demand.

Future trends to watch for include potential impacts from climate change on cocoa production, shifts in consumer preferences towards sustainable and ethically-sourced cocoa, and the influence of economic factors on consumer spending in Turkey.