The forecast period is expected to see further financial woes for much of the Turkish population as the climbing exchange value of the Turkish lira against benchmark global current these continues to fuel rampant inflation. With household spending power very much on the wane, the leading names in edible oils are likely to focus heavily on reducing cost overheads and sacrificing margins in order to offer their products at the lowest possible prices.
The substantial increases seen in Turkey’s olive oil production outputs during 2023 can be seen as a sign that the local olive oil manufacturing industry is gearing up to cater for higher demand for olive oil among the local population. In addition to high demand for olive oil among foreign tourists in the foodservice channel, there is currently a very real sense among industry observers that olive oil is poised to become far more popular in Turkey at a time when health and wellness is an increasingly crucial influence on consumer decision-making.
The forecast period is set to see the government of Turkey maintain its inward processing regime for sunflower oil and its policy of offering subsidies to companies involved in the manufacture of sunflower oil. Turkey remains an important manufacturer and exporter of sunflower oil and while the country’s sunflower oil manufacturing industry is already quite mature with high production capacity, it is widely held that there is substantial room for further expansion.
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Understand the latest market trends and future growth opportunities for the Edible Oils industry in Turkey with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Edible Oils industry in Turkey, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Edible Oils
This is the aggregation of olive oil and vegetable and seed oil (which comprises of corn oil, palm oil, rapeseed oil, soy oil, sunflower oil, and other edible oil). Please note blended oil that contain over 50% of one type of oil are categorised in that category, e.g. blended oil with 60% soy oil is categorised in soy oil; whereas blended oils with less than 50% of a specific type of oil are categorised in other edible oil. Includes: Pre-packaged edible oils products purchased by consumers through legally established retail channels. Excludes: Unpackaged/bulk oils, i.e. instances where consumers bring an empty container or plastic bag to be (re)filled with cooking oil. Example: Minyak curah in Indonesia.
See All of Our DefinitionsThis report originates from Passport, our Edible Oils research and analysis database.
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