The domestic industrial consumption of palm oil in Turkey is forecasted to grow steadily from 2024 to 2028, with values projected at 112.0, 114.0, 116.0, 118.0, and 120.0 thousand metric tons, respectively. In 2023, the consumption stood at 110.0 thousand metric tons.
The year-on-year percentage growth from 2024 to 2025 and from 2025 to 2026 is approximately 1.8%, indicating a consistent increase. Over a longer period, the compound annual growth rate (CAGR) for 2023-2028 is estimated at 1.8% per year, reflecting a stable and gradual upward trend in palm oil consumption in Turkey’s industrial sector.
Future Trends to Watch For:
• Potential shifts in consumer preferences towards more sustainable and healthier oils could impact palm oil demand.
• Policies and regulations regarding agricultural imports and production may influence supply and pricing dynamics.
• Technological advancements in the food processing and cosmetic industries might drive changes in palm oil utilization.
