Salt Market in Turkey
Market Overview
The Turkish salt market expanded sharply to $
in , with an increase of % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a tangible expansion from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2019 indices. As a result, consumption reached the peak level of $. From 2013 to , the growth of the market remained at a lower figure.
In value terms, salt production expanded remarkably to $ in estimated in export price. Over the period under review, production enjoyed a notable expansion. The pace of growth appeared the most rapid in 2012 when the production volume increased by % against the previous year. Over the period under review, production hit record highs at $ in 2013; however, from 2014 to , production stood at a somewhat lower figure.
in , with an increase of % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a tangible expansion from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2019 indices. As a result, consumption reached the peak level of $. From 2013 to , the growth of the market remained at a lower figure.In value terms, salt production expanded remarkably to $
in estimated in export price. Over the period under review, production enjoyed a notable expansion. The pace of growth appeared the most rapid in 2012 when the production volume increased by % against the previous year. Over the period under review, production hit record highs at $ in 2013; however, from 2014 to , production stood at a somewhat lower figure.Consumption
In , salt consumption in Turkey amounted to tons, increasing by % against . Over the period under review, the total consumption indicated a perceptible increase from 2007 to : its volume increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against 2017 indices. Over the period under review, consumption attained the maximum volume at tons in 2013; however, from 2014 to , consumption failed to regain momentum.
The revenue of the salt market in Turkey expanded significantly to $ in , increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated moderate growth from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2019 indices. As a result, consumption reached the peak level of $. From 2013 to , the growth of the market remained at a lower figure.
, salt consumption in Turkey amounted to tons, increasing by % against . Over the period under review, the total consumption indicated a perceptible increase from 2007 to : its volume increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against 2017 indices. Over the period under review, consumption attained the maximum volume at tons in 2013; however, from 2014 to , consumption failed to regain momentum.The revenue of the salt market in Turkey expanded significantly to $
in , increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated moderate growth from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2019 indices. As a result, consumption reached the peak level of $. From 2013 to , the growth of the market remained at a lower figure.Market Forecast
Driven by increasing demand for salt and pure sodium chloride in Turkey, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Over the period under review, imports of salt in Turkey were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for salt. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.
, the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.Trade Balance
Turkey remains a net exporter of salt; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
. In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
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