In 2023, the animal fats market in Turkey stood at 236 Thousand Metric Tons (TMT). Over the past two years, the market saw a moderate year-on-year growth rate of 0.43%. Examining the last five years, the compound annual growth rate (CAGR) averaged 0.43%, indicating a steady but slow upward trend.
Looking back at the data from 2014, the market experienced fluctuations with various peaks and troughs. The market dipped slightly between 2014 and 2016, reaching a low in 2016. However, it rebounded strongly in 2017 with a 10.68% year-on-year increase. Since then, the market has generally been on a slight upward trend.
Future trends to watch for in the animal fats market in Turkey include the impact of dietary changes, regulations on animal products, and innovations in animal fat applications. Maintaining a close watch on consumer preferences towards plant-based fats and technological advancements will be crucial for forecasting future market movements.
