Since 2014, the alcoholic beverages production in Turkey has shown considerable fluctuation. It started at 1.25 million metric tons in 2014 and experienced a noticeable decline in subsequent years before stabilizing around 1.1 million metric tons. In 2018, production saw an upturn, reaching 1.19 million metric tons but gradually declined again to 1.14 million metric tons by 2023. Notably, the annual production in 2023 was 1.14 million metric tons. The year-on-year variation from 2022 to 2023 was a slight decline of 0.44%, with a compound annual growth rate (CAGR) of -0.96% over the past five years.
Looking ahead, forecasted production data for 2024 and beyond indicate a slow decline, with the production volume expected to reach 1.11 million metric tons by 2028. The forecasted five-year CAGR is -0.35%, indicating a gradual reduction in volume. We anticipate a 1.74% decline over the five-year period from 2023 to 2028.
Future trends to watch for include potential changes in regulations, consumer preferences shifting towards premium or low-alcohol alternatives, and potential impacts from international trade dynamics. Additionally, economic factors such as inflation, purchasing power, and tourism could significantly influence production volumes.
