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Turkey - Rennet And Concentrates Thereof - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Feb 1, 2025

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

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Jul 30, 2024

Turkey's Rennet Exports Drop 3%, Totaling $8 Million in 2023

Turkey Rennet Exports

In 2023, shipments abroad of rennet and concentrates thereof decreased by -7.2% to 940 tons for the first time since 2020, thus ending a two-year rising trend. In general, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 14%. Over the period under review, the exports hit record highs at 1.1K tons in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

In value terms, rennet exports reduced slightly to $8M (IndexBox estimates) in 2023. Over the period under review, total exports indicated a resilient increase from 2013 to 2023: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by +77.6% against 2017 indices. The pace of growth appeared the most rapid in 2020 with an increase of 17%. Over the period under review, the exports hit record highs at $8.3M in 2022, and then fell slightly in the following year.Turkey Rennet Exports By Country (Thousand USD)

COUNTRYExport Value of Rennet in Turkey (thousand USD)
20132014201520162017201820192020202120222023
Spain4445927895817361,2189261,0701,2551,4791,760
Russia28.548.844.53.462.673.71301822411,2981,327
Georgia1,0431,0489351,016882983991830812639853
United States531286170119177245256482589810659
Brazil6187021,378408654333533544715669618
Italy668437420414354238379474653530521
Belarus5.946.611529519793.9215432839765405
Azerbaijan433454329401345496399457357391294
Others9291,4351,3781,5551,1031,5871,7802,0981,8411,6851,577
Total4,7015,0525,5584,7914,5115,2685,6106,5697,3028,2668,013

Exports by Country

Georgia (327 tons) was the main destination for rennet exports from Turkey, with a 35% share of total exports. Moreover, rennet exports to Georgia exceeded the volume sent to the second major destination, Spain (120 tons), threefold. The third position in this ranking was taken by Azerbaijan (113 tons), with a 12% share.

From 2013 to 2023, the average annual rate of growth in terms of volume to Georgia amounted to -5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+16.7% per year) and Azerbaijan (-1.7% per year).

In value terms, the largest markets for rennet exported from Turkey were Spain ($1.8M), Russia ($1.3M) and Georgia ($853K), with a combined 49% share of total exports. the United States, Brazil, Italy, Belarus and Azerbaijan lagged somewhat behind, together comprising a further 31%.

Belarus, with a CAGR of +52.6%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the rennet price amounted to $8,528 per ton (FOB, Turkey), picking up by 4.5% against the previous year. In general, export price indicated strong growth from 2013 to 2023: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, rennet export price increased by +81.8% against 2016 indices. The pace of growth was the most pronounced in 2020 when the average export price increased by 34%. Over the period under review, the average export prices reached the peak figure in 2023 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($21,045 per ton), while the average price for exports to Venezuela ($2,398 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 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. 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. 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. 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. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    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, 2012–2024
    22. Production, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, 2012–2024
    24. Imports, In Value Terms, 2012–2024
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country Of Origin, 2012–2024
    29. Exports, In Physical Terms, 2012–2024
    30. Exports, In Value Terms, 2012–2024
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country Of Destination, 2012–2024

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