Africa: Rennet Market 2024

Rennet Market Size in Africa

After five years of growth, the African rennet market decreased by -8.4% to $X in 2021. The total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +76.9% against 2015 indices. Over the period under review, the market hit record highs at $X in 2020, and then reduced in the following year.

Rennet Production in Africa

In value terms, rennet production reduced to $X in 2021 estimated in export price. The total production indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +81.8% against 2015 indices. The pace of growth appeared the most rapid in 2020 with an increase of 29%. As a result, production reached the peak level of $X, and then contracted in the following year.

Rennet Exports

Exports in Africa

In 2021, approx. X tons of rennet and concentrates thereof were exported in Africa; declining by -40.4% against the previous year's figure. In general, exports saw a mild contraction. The growth pace was the most rapid in 2020 when exports increased by 287% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, rennet exports reduced remarkably to $X in 2021. Over the period under review, exports continue to indicate a abrupt setback. The growth pace was the most rapid in 2020 when exports increased by 296%. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

South Africa was the main exporter of rennet and concentrates thereof in Africa, with the volume of exports finishing at X tons, which was near 82% of total exports in 2021. It was distantly followed by Egypt (X tons) and Mauritius (X tons), together comprising a 17% share of total exports.

South Africa experienced a relatively flat trend pattern with regard to volume of exports of rennet and concentrates thereof. At the same time, Mauritius (+29.1%) displayed positive paces of growth. Moreover, Mauritius emerged as the fastest-growing exporter exported in Africa, with a CAGR of +29.1% from 2012-2021. By contrast, Egypt (-8.0%) illustrated a downward trend over the same period. Mauritius (+6.9 p.p.) and South Africa (+4.4 p.p.) significantly strengthened its position in terms of the total exports, while Egypt saw its share reduced by -9.1% from 2012 to 2021, respectively.

In value terms, South Africa ($X) remains the largest rennet supplier in Africa, comprising 73% of total exports. The second position in the ranking was held by Egypt ($X), with a 21% share of total exports.

In South Africa, rennet exports contracted by an average annual rate of -12.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Egypt (-17.8% per year) and Mauritius (+21.0% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2021, falling by -44.6% against the previous year. Overall, the export price faced a abrupt curtailment. The pace of growth appeared the most rapid in 2014 an increase of 114% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Egypt ($X per ton), while Mauritius ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mauritius (-6.3%), while the other leaders experienced a decline in the export price figures.

Rennet Imports

Imports in Africa

Rennet imports surged to X tons in 2021, with an increase of 30% on 2020 figures. In general, imports, however, showed a mild setback. The pace of growth was the most pronounced in 2019 when imports increased by 56% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, rennet imports expanded significantly to $X in 2021. Overall, imports, however, saw a perceptible curtailment. The pace of growth appeared the most rapid in 2019 with an increase of 77% against the previous year. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Nigeria (X tons), distantly followed by Djibouti (X tons), Egypt (X tons), Kenya (X tons), Tunisia (X tons), Lesotho (X tons) and South Africa (X tons) were the major importers of rennet and concentrates thereof, together making up 83% of total imports.

From 2012 to 2021, the biggest increases were recorded for Djibouti (with a CAGR of +159.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Egypt ($X) and South Africa ($X) constituted the countries with the highest levels of imports in 2021, with a combined 59% share of total imports. Kenya, Tunisia, Djibouti and Lesotho lagged somewhat behind, together accounting for a further 19%.

Among the main importing countries, Djibouti, with a CAGR of +42.5%, 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 2021, the import price in Africa amounted to $X per ton, with a decrease of -13.8% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 13% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was South Africa ($X per ton), while Lesotho ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+11.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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