Turkey's import of animal feed preparations has been exhibiting a steady growth trend over the past decade. Starting from a value of $93.43 million in 2013, it reached $113.52 million in 2023, representing a gradual increase despite minor fluctuations. The annual growth rate (CAGR) from 2013 to 2023 stands at approximately 2.58%. Significant growth was observed in recent years, with yearly increases between 2.29% and 3.12%.
From 2024 onwards, projected data indicates a continuous upward trajectory, aiming for $125.48 million by 2028. The five-year forecasted CAGR is estimated at 1.58%, reflecting a consistent yet modest growth expectation. This suggests a stable demand for animal feed preparations in Turkey, driven by a growing agricultural sector and increased livestock farming.
Future Trends to Watch For:
- Technological advancements in animal feed production, potentially influencing import needs.
- Regulatory changes in trade policies and import tariffs impacting costs and sourcing.
- Shifts in global feed prices due to economic conditions or agricultural productivity.
- The rising trend of sustainable and specialty animal feed formulations.
