Turkey: Market for Protein Concentrates and Flavoured or Coloured Sugar Syrups 2024

Market Size for Protein Concentrates and Flavoured or Coloured Sugar Syrups in Turkey

In 2021, the Turkish market for protein concentrates and flavoured or coloured sugar syrups was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption saw prominent growth. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Production of Protein Concentrates and Flavoured or Coloured Sugar Syrups in Turkey

In value terms, production of protein concentrates and flavoured or coloured sugar syrups soared to $X in 2021 estimated in export price. Overall, production continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of 135%. As a result, production attained the peak level of $X. From 2019 to 2021, production of growth remained at a lower figure.

Exports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Exports from Turkey

In 2021, overseas shipments of protein concentrates and flavoured or coloured sugar syrups increased by 34% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports showed a temperate expansion. The pace of growth appeared the most rapid in 2020 with an increase of 81%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, exports of protein concentrates and flavoured or coloured sugar syrups skyrocketed to $X in 2021. Overall, exports showed a tangible increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Iraq (X tons) was the main destination for exports of protein concentrates and flavoured or coloured sugar syrups from Turkey, accounting for a 21% share of total exports. Moreover, exports of protein concentrates and flavoured or coloured sugar syrups to Iraq exceeded the volume sent to the second major destination, Togo (X tons), twofold. The third position in this ranking was held by Jordan (X tons), with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Iraq stood at -8.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (+138.2% per year) and Jordan (+15.8% per year).

In value terms, the largest markets for protein concentrate and flavoured or coloured sugar syrup exported from Turkey were Iraq ($X), Jordan ($X) and Kazakhstan ($X), with a combined 38% share of total exports. These countries were followed by Ukraine, France, Iran, Togo, Cyprus, Syrian Arab Republic, Georgia, Afghanistan, Russia and the UK, which together accounted for a further 44%.

Russia, with a CAGR of +21,024.7%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for protein concentrates and flavoured or coloured sugar syrups stood at $X per ton in 2021, surging by 27% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.2%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+21.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Imports into Turkey

In 2021, supplies from abroad of protein concentrates and flavoured or coloured sugar syrups decreased by -12.5% to X tons, falling for the second consecutive year after two years of growth. In general, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2019 when imports increased by 65%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of protein concentrates and flavoured or coloured sugar syrups dropped to $X in 2021. Over the period under review, imports saw a slight descent. The most prominent rate of growth was recorded in 2019 with an increase of 33% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of protein concentrate and flavoured or coloured sugar syrup to Turkey, with a 68% share of total imports. Moreover, imports of protein concentrates and flavoured or coloured sugar syrups from India exceeded the figures recorded by the second-largest supplier, China (X tons), sevenfold. The third position in this ranking was held by Italy (X tons), with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-12.8% per year) and Italy (+47.2% per year).

In value terms, India ($X) constituted the largest supplier of protein concentrates and flavoured or coloured sugar syrups to Turkey, comprising 33% of total imports. The second position in the ranking was held by Italy ($X), with a 16% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from India amounted to +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+41.1% per year) and China (-7.4% per year).

Import Prices by Country

In 2021, the average import price for protein concentrates and flavoured or coloured sugar syrups amounted to $X per ton, growing by 6.2% against the previous year. Overall, import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for protein concentrates and flavoured or coloured sugar syrups increased by +91.3% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the average import price increased by 80% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :