Report Update Apr 1, 2024

Republic of Korea - Rennet and Concentrates Thereof - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Rennet Market 2024

Rennet Market Size in Republic of Korea

The South Korean rennet market reduced modestly to $X in 2022, which is down by X% against the previous year. In general, consumption, however, enjoyed a buoyant increase. Rennet consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Rennet Production in Republic of Korea

In value terms, rennet production declined modestly to $X in 2022 estimated in export price. Over the period under review, production, however, posted a resilient expansion. The growth pace was the most rapid in 2017 when the production volume increased by X%. Rennet production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Rennet Exports

Exports from Republic of Korea

In 2022, after eight years of growth, there was significant decline in overseas shipments of rennet and concentrates thereof, when their volume decreased by X% to X tons. Over the period under review, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021, and then fell remarkably in the following year.

In value terms, rennet exports dropped sharply to $X in 2022. Overall, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The exports peaked at $X in 2021, and then shrank significantly in the following year.

Exports by Country

Pakistan (X tons) was the main destination for rennet exports from South Korea, accounting for a X% share of total exports. Moreover, rennet exports to Pakistan exceeded the volume sent to the second major destination, Germany (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Pakistan was relatively modest.

In value terms, Pakistan ($X) remains the key foreign market for rennet and concentrates thereof exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Pakistan totaled X%.

Export Prices by Country

In 2022, the average rennet export price amounted to $X per ton, falling by X% against the previous year. In general, the export price, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 when the average export price decreased by X%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while the average price for exports to Germany stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (X%).

Rennet Imports

Imports into Republic of Korea

In 2022, the amount of rennet and concentrates thereof imported into South Korea dropped remarkably to X tons, reducing by X% compared with 2021 figures. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, rennet imports dropped notably to $X in 2022. Overall, imports, however, recorded a notable increase. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest supplier of rennet to South Korea, accounting for a X% share of total imports. Moreover, rennet imports from New Zealand exceeded the figures recorded by the second-largest supplier, Turkey (X kg), threefold.

From 2012 to 2022, the average annual growth rate of volume from New Zealand totaled X%.

In value terms, New Zealand ($X) constituted the largest supplier of rennet and concentrates thereof to South Korea, comprising X% of total imports. The second position in the ranking was held by Turkey ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from New Zealand amounted to X%.

Import Prices by Country

The average rennet import price stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for Turkey amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (X%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for rennet and concentrates thereof in the world?

China remains the largest rennet consuming country worldwide, comprising approx. 20% of total volume. Moreover, rennet consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. India ranked third in terms of total consumption with a 7% share.

What are the largest producers of rennet and concentrates thereof in the world?

China remains the largest rennet producing country worldwide, comprising approx. 20% of total volume. Moreover, rennet production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. The third position in this ranking was held by India, with a 7% share.

What are the leading suppliers of rennet and concentrates thereof to Republic of Korea?

In value terms, New Zealand constituted the largest supplier of rennet and concentrates thereof to South Korea, comprising 83% of total imports. The second position in the ranking was held by Turkey, with a 12% share of total imports.

What are the leading importers of rennet and concentrates thereof from Republic of Korea?

In value terms, Pakistan remains the key foreign market for rennet and concentrates thereof exports from South Korea, comprising 99% of total exports. The second position in the ranking was taken by Germany $631), with a 0.7% share of total exports.

What is the average export price for rennet and concentrates thereof in Republic of Korea?

The average rennet export price stood at $27,494 per ton in 2022, which is down by -11.6% against the previous year.

What is the average import price for rennet and concentrates thereof in Republic of Korea?

In 2022, the average rennet import price amounted to $29,627 per ton, with an increase of 14% against the previous year.

This report provides an in-depth analysis of the rennet market in Republic of Korea. 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:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
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
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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