Turkey: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in Turkey

The Turkish inedible fish products market contracted to $X in 2022, dropping by -5.5% against the previous year. Over the period under review, consumption, however, recorded a pronounced expansion. Inedible fish products consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Inedible Fish Products Production in Turkey

In value terms, inedible fish products production declined to $X in 2022 estimated in export price. In general, production, however, posted a pronounced expansion. The most prominent rate of growth was recorded in 2014 with an increase of 54%. Inedible fish products production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Inedible Fish Products Exports

Exports from Turkey

In 2022, shipments abroad of inedible fish products decreased by -77.4% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, exports, however, enjoyed a noticeable increase. The growth pace was the most rapid in 2016 with an increase of 4,087%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, inedible fish products exports skyrocketed to $X in 2022. Over the period under review, exports, however, saw a remarkable increase. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons) was the main destination for inedible fish products exports from Turkey, accounting for a 85% share of total exports. Moreover, inedible fish products exports to Vietnam exceeded the volume sent to the second major destination, Kyrgyzstan (X kg), more than tenfold. The third position in this ranking was held by Kazakhstan (X kg), with a 4.5% share.

From 2012 to 2022, the average annual growth rate of volume to Vietnam amounted to +63.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kyrgyzstan (+46.1% per year) and Kazakhstan (-28.3% per year).

In value terms, Vietnam ($X) emerged as the key foreign market for inedible fish products exports from Turkey, comprising 84% of total exports. The second position in the ranking was held by Kyrgyzstan ($X), with a 6.5% share of total exports. It was followed by Kazakhstan, with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Vietnam totaled +55.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kyrgyzstan (+34.9% per year) and Kazakhstan (+45.8% per year).

Export Prices by Country

The average inedible fish products export price stood at $X per ton in 2022, surging by 1,383% against the previous year. Overall, the export price showed measured growth. The pace of growth appeared the most rapid in 2017 an increase of 2,834%. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Kyrgyzstan ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+14,414.0%), while the prices for the other major destinations experienced mixed trend patterns.

Inedible Fish Products Imports

Imports into Turkey

In 2022, after two years of growth, there was decline in supplies from abroad of inedible fish products, when their volume decreased by -3% to X tons. Overall, imports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 90%. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, inedible fish products imports surged to $X in 2022. Over the period under review, imports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 78%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The United States (X tons), Russia (X tons) and Thailand (X tons) were the main suppliers of inedible fish products imports to Turkey, together comprising 87% of total imports. France, Poland and Denmark lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +489.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of inedible fish products to Turkey, comprising 55% of total imports. The second position in the ranking was held by France ($X), with a 16% share of total imports. It was followed by Russia, with an 8.9% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +16.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+105.8% per year) and Russia (+5.9% per year).

Import Prices by Country

In 2022, the average inedible fish products import price amounted to $X per ton, picking up by 59% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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