Asia: Rennet Market 2024

Rennet Market Size in Asia

In 2022, the Asian rennet market decreased by X% to $X, falling for the second consecutive year after nine years of growth. In general, consumption continues to indicate a prominent increase. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Rennet Production in Asia

In value terms, rennet production totaled $X in 2022 estimated in export price. Over the period under review, production recorded buoyant growth. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Rennet Exports

Exports in Asia

After four years of growth, shipments abroad of rennet and concentrates thereof decreased by X% to X tons in 2022. Total exports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2017 indices. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons, and then declined slightly in the following year.

In value terms, rennet exports dropped slightly to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then reduced modestly in the following year.

Exports by Country

In 2022, Japan (X tons) and Turkey (X tons) represented the largest exporters of rennet and concentrates thereof in Asia, together comprising X% of total exports. It was distantly followed by China (X tons), achieving a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Japan ($X) and China ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports.

China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, with an increase of X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced mixed trends in the export price figures.

Rennet Imports

Imports in Asia

After two years of growth, supplies from abroad of rennet and concentrates thereof decreased by X% to X tons in 2022. Total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2018 indices. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, rennet imports fell to $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of rennet and concentrates thereof, namely Turkey, Bangladesh and Georgia, represented more than two-thirds of total import. Azerbaijan (X tons) held the next position in the ranking, followed by Sri Lanka (X tons). All these countries together held approx. X% share of total imports. Israel (X tons) and China (X tons) followed a long way behind the leaders.

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

In value terms, Turkey ($X) constitutes the largest market for imported rennet and concentrates thereof in Asia, comprising X% of total imports. The second position in the ranking was held by Bangladesh ($X), with a X% share of total imports. It was followed by Georgia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey amounted to X%. In the other countries, the average annual rates were as follows: Bangladesh (X% per year) and Georgia (X% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, stabilizing at the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Georgia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :