Report Update: May 1, 2024

Turkey - Rennet And Concentrates Thereof - Market Analysis, Forecast, Size, Trends And Insights

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Rennet Price in Turkey - 2023

Rennet Price in Turkey (CIF) - 2023

In July 2023, the average rennet import price amounted to $5,218 per ton, which is down by -31.7% against the previous month. Over the period under review, the import price recorded a pronounced decrease. The most prominent rate of growth was recorded in December 2022 when the average import price increased by 406% month-to-month. Over the period under review, average import prices attained the peak figure at $69,736 per ton in October 2022; however, from November 2022 to July 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was France ($6,083 per ton), while the price for Italy ($2,092 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Spain (+7.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Rennet Price in Turkey (FOB) - 2023

In July 2023, the average rennet export price amounted to $3,456 per ton, falling by -66.1% against the previous month. In general, the export price showed a abrupt contraction. The pace of growth was the most pronounced in June 2023 an increase of 67% m-o-m. Over the period under review, the average export prices reached the maximum at $12,214 per ton in February 2023; however, from March 2023 to July 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In July 2023, the country with the highest price was Germany ($4,581 per ton), while the average price for exports to Georgia ($2,636 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Rennet Imports in Turkey

In 2022, supplies from abroad of rennet and concentrates thereof decreased by -68.3% to 443 tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2021 with an increase of 93% against the previous year. As a result, imports reached the peak of 1.4K tons, and then reduced markedly in the following year.

In value terms, rennet imports contracted notably to $2.5M in 2022. Over the period under review, imports faced a sharp decline. The most prominent rate of growth was recorded in 2021 with an increase of 143%. As a result, imports reached the peak of $16M, and then reduced remarkably in the following year.

Import of Rennet in Turkey (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	3.5	2.6	9.1	1.4	-26.3%
Denmark	1.7	1.9	3.4	0.5	-33.5%
France	0.7	0.7	1.0	0.2	-34.1%
Italy	0.2	0.3	0.9	0.1	-20.6%
Japan	0.4	0.7	0.8	0.1	-37.0%
Others	0.3	0.2	0.2	0.1	-30.7%
Total	6.7	6.4	15.6	2.5	-28.0%

Top Suppliers of Rennet to Turkey in 2022:

Denmark (223.7 tons)
China (91.3 tons)
France (52.6 tons)
Japan (38.9 tons)
Italy (31.1 tons)

Rennet Exports in Turkey

In 2022, rennet exports from Turkey contracted significantly to 1K tons, which is down by -45.6% compared with 2021. Overall, exports showed a noticeable contraction. The pace of growth appeared the most rapid in 2021 when exports increased by 98%. As a result, the exports attained the peak of 1.9K tons, and then reduced markedly in the following year.

In value terms, rennet exports plummeted to $8.3M in 2022. In general, exports, however, saw a remarkable increase. The pace of growth was the most pronounced in 2021 with an increase of 103% against the previous year. As a result, the exports attained the peak of $13M, and then contracted markedly in the following year.

Export of Rennet in Turkey (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Spain	927	1,070	2,304	1,371	13.9%
Georgia	992	830	1,490	944	-1.6%
Belarus	215	432	1,541	917	62.2%
Brazil	534	544	1,313	781	13.5%
Italy	379	473	1,198	713	23.4%
United States	256	482	1,080	643	35.9%
Azerbaijan	400	457	654	435	2.8%
Russia	131	182	443	264	26.3%
Ukraine	63.1	173	361	215	50.5%
Germany	134	87.2	119	103	-8.4%
Venezuela	7.6	51.6	157	93.5	130.9%
Others	1,572	1,788	2,707	1,778	4.2%
Total	5,610	6,569	13,367	8,257	13.8%

Top Export Markets for Rennet from Turkey in 2022:

Georgia (395.8 tons)
Azerbaijan (144.0 tons)
Spain (119.6 tons)
Belarus (67.4 tons)
Brazil (52.4 tons)
Italy (33.2 tons)
Venezuela (29.9 tons)
United States (25.0 tons)
Ukraine (21.6 tons)
Germany (17.3 tons)
Russia (15.8 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the rennet 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:

Prodcom 20146450 - Rennet and concentrates thereof

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