Report Update Nov 1, 2024

Turkey - Lard - Market Analysis, Forecast, Size, Trends and Insights

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Turkey: Lard Market 2024

Lard Market Size in Turkey

The Turkish lard market shrank significantly to $X in 2022, dropping by -24% against the previous year. In general, consumption saw a dramatic curtailment. The pace of growth was the most pronounced in 2019 with a decrease of -5.1%. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Lard Production in Turkey

In value terms, lard production totaled $X in 2022 estimated in export price. Over the period under review, the total production indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.3% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 19% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Lard Exports

Exports from Turkey

In 2022, after two years of growth, there was significant decline in shipments abroad of lard, when their volume decreased by -5.1% to X kg. In general, exports, however, showed resilient growth. The most prominent rate of growth was recorded in 2021 when exports increased by 15% against the previous year. As a result, the exports reached the peak of X kg, and then declined in the following year.

In value terms, lard exports surged to $X in 2022. Over the period under review, exports, however, posted resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Saint Vincent and the Grenadines (X kg), Cook Islands (X kg) and Singapore (X kg) were the main destinations of lard exports from Turkey, with a combined 43% share of total exports.

From 2016 to 2022, the biggest increases were recorded for Saint Vincent and the Grenadines (with a CAGR of +53.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lard exported from Turkey were Singapore ($X), Azerbaijan ($X) and Saint Vincent and the Grenadines ($X), together accounting for 53% of total exports.

Among the main countries of destination, Saint Vincent and the Grenadines, with a CAGR of +100.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average lard export price stood at $X per ton in 2022, jumping by 170% against the previous year. Over the period under review, the export price saw a buoyant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Azerbaijan ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2016 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saint Vincent and the Grenadines (+30.0%), while the prices for the other major destinations experienced more modest paces of growth.

Lard Imports

Imports into Turkey

In 2022, lard imports into Turkey contracted remarkably to X kg, reducing by -54.5% against the year before. Over the period under review, imports showed a dramatic downturn. The smallest decline of -1.4% was in 2020. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, lard imports shrank sharply to $X in 2022. In general, imports faced a sharp reduction. The growth pace was the most rapid in 2020 when imports increased by 6.4% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X kg) was the main lard supplier to Turkey, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled +2.0%.

In value terms, Germany ($X) constituted the largest supplier of lard to Turkey.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +2.5%.

Import Prices by Country

The average lard import price stood at $X per ton in 2022, approximately equating the previous year. Overall, import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lard import price increased by +29.7% against 2018 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 25% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Germany.

From 2012 to 2022, the rate of growth in terms of prices for France amounted to +5.7% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for lard in the world?

China remains the largest lard consuming country worldwide, comprising approx. 32% of total volume. Moreover, lard consumption in China exceeded the figures recorded by the second-largest consumer, Germany, fourfold. Brazil ranked third in terms of total consumption with an 8.5% share.

What are the largest producers of lard in the world?

China remains the largest lard producing country worldwide, comprising approx. 32% of total volume. Moreover, lard production in China exceeded the figures recorded by the second-largest producer, Germany, fourfold. Brazil ranked third in terms of total production with an 8.4% share.

What are the leading suppliers of lard to Turkey?

In value terms, the UK $453) constituted the largest supplier of lard to Turkey.

What are the leading importers of lard from Turkey?

In value terms, the largest markets for lard exported from Turkey were Croatia $46), South Africa $42) and Saint Vincent and the Grenadines $35), together comprising 54% of total exports. Saudi Arabia, Liberia, Panama and Kazakhstan lagged somewhat behind, together accounting for a further 39%.

What is the average export price for lard in Turkey?

The average lard export price stood at $1,781 per ton in 2021, rising by 86% against the previous year.

What is the average import price for lard in Turkey?

In 2021, the average lard import price amounted to $3,439 per ton, increasing by 26% against the previous year.

This report provides an in-depth analysis of the lard market in Turkey. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 1043 - Lard

Country coverage:

Turkey

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Turkey
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023