EU: Rennet Market 2024

Rennet Market Size in the EU

In 2022, after ten years of growth, there was significant decline in the EU rennet market, when its value decreased by X% to $X. In general, consumption enjoyed a buoyant expansion. Over the period under review, the market hit record highs at $X in 2021, and then contracted in the following year.

Rennet Production in the EU

In value terms, rennet production reduced to $X in 2022 estimated in export price. The total production indicated a resilient 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 increased by X% against 2013 indices. The growth pace was the most rapid in 2018 with an increase of X%. The level of production peaked at $X in 2021, and then dropped in the following year.

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Rennet Exports

Exports in the EU

After ten years of growth, overseas shipments of rennet and concentrates thereof decreased by X% to X tons in 2022. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2021, and then dropped in the following year.

In value terms, rennet exports shrank 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 in certain years. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The level of export peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Denmark was the main exporting country with an export of about X tons, which amounted to X% of total exports. Germany (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Italy (X%). The following exporters - the Netherlands (X tons), France (X tons) and Poland (X tons) - together made up X% of total exports.

Exports from Denmark increased at an average annual rate of X% from 2012 to 2022. At the same time, the Netherlands (X%), Italy (X%), Poland (X%) and Germany (X%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the European Union, with a CAGR of X% from 2012-2022. By contrast, France (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Denmark increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Denmark ($X) remains the largest rennet supplier in the European Union, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports. It was followed by Italy, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Denmark stood at X%. In the other countries, the average annual rates were as follows: Germany (X% per year) and Italy (X% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while Germany ($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 more modest paces of growth.

Rennet Imports

Imports in the EU

In 2022, rennet imports in the European Union surged to X tons, picking up by X% compared with 2021. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, rennet imports expanded rapidly to $X in 2022. Total imports indicated noticeable 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 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Denmark was the main importer of rennet and concentrates thereof in the European Union, with the volume of imports finishing at X tons, which was near X% of total imports in 2022. France (X tons) took an X% share (based on physical terms) of total imports, which put it in second place, followed by the Netherlands (X%), Germany (X%), Italy (X%) and Spain (X%). Poland (X tons) held a relatively small share of total imports.

Imports into Denmark increased at an average annual rate of X% from 2012 to 2022. At the same time, the Netherlands (X%), Poland (X%), Spain (X%), France (X%) and Italy (X%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the European Union, with a CAGR of X% from 2012-2022. Germany experienced a relatively flat trend pattern. From 2012 to 2022, the share of Denmark and the Netherlands increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest rennet importing markets in the European Union were Denmark ($X), Italy ($X) and Germany ($X), with a combined X% share of total imports. The Netherlands, France, Poland and Spain lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, the Netherlands, with a CAGR of X%, recorded 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 the European Union amounted to $X per ton, dropping by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

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 Italy ($X per ton), while France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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