Eastern Europe: Rennet Market 2024

Rennet Market Size in Eastern Europe

The East European rennet market rose rapidly to $X in 2022, growing by X% against the previous year. The total consumption indicated prominent 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, consumption decreased by X% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Rennet Production in Eastern Europe

In value terms, rennet production rose modestly to $X in 2022 estimated in export price. The total production indicated a strong increase 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Rennet Exports

Exports in Eastern Europe

In 2022, overseas shipments of rennet and concentrates thereof were finally on the rise to reach X tons after two years of decline. Over the period under review, exports recorded resilient growth. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, rennet exports soared to $X in 2022. Overall, exports continue to indicate a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Poland was the main exporting country with an export of about X tons, which recorded X% of total exports. It was distantly followed by Lithuania (X tons) and Latvia (X tons), together generating a X% share of total exports.

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

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

Among the main exporting countries, Latvia, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the export price in Eastern Europe amounted to $X per ton, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Latvia ($X per ton), while Poland ($X per ton) was amongst the lowest.

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

Rennet Imports

Imports in Eastern Europe

In 2022, overseas purchases of rennet and concentrates thereof increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports continue to indicate buoyant growth. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, rennet imports skyrocketed to $X in 2022. Over the period under review, imports showed a temperate expansion. The pace of growth was the most pronounced in 2017 when imports increased by X%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Poland (X tons), Russia (X tons), Belarus (X tons), Latvia (X tons) and Hungary (X tons) was the main importer of rennet and concentrates thereof in Eastern Europe, constituting X% of total import. Lithuania (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Romania (X%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Latvia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Russia ($X) and Belarus ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Lithuania, Latvia, Romania and Hungary lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Latvia, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, declining by X% against the previous year. Overall, the import price continues to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Lithuania ($X per ton), while Hungary ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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