In Turkey, the non-food uses of palm oil are projected at 56.0 thousand metric tons in 2024, with a steady annual increase reaching 61.0 thousand metric tons by 2028. This represents a year-over-year growth of approximately 3.6% from 2024 to 2028 when looking at the five-year period.
Based on previous years' actual data, from 2023 to 2024, the year-on-year variation was around 3.6%. The compound annual growth rate (CAGR) over the five years from 2024 to 2028 stands at approximately 2.1%, indicating steady growth in the non-food uses of palm oil in Turkey.
Future trends to watch for:
- Regulatory changes affecting palm oil imports and usage.
- Technological advancements in alternative non-food uses of palm oil.
- Shifts in industrial demand patterns due to evolving consumer preferences.
- Environmental policies and sustainability concerns impacting production and usage strategies.