The sales volume of insecticides produced by fermentation in Turkey stood at 2.5314 million kilograms in 2023. This represents a steady increase over the past years, with a notable year-on-year variation: 6.64% in 2020, a slight decline of -1.16% in 2021, a modest rise of 1.85% in 2022, and a smaller increase of 1.26% in 2023. The average annual growth rate (CAGR) from 2024 to 2028 is forecasted to be 0.93%, reflecting a stable growth trend, with a cumulative growth of 4.74% over the same period.
Trends to watch for:
- Technological advancements in fermentation processes.
- Changing consumer preferences towards environmentally friendly products.
- Potential regulatory changes impacting production and sales.
- Emerging competition and market dynamics in the agricultural sector.
