Austria: Rennet Market 2024

Rennet Market Size in Austria

In 2021, after three years of growth, there was significant decline in the Austrian rennet market, when its value decreased by -22.5% to $X. Overall, consumption recorded a deep reduction. Rennet consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Rennet Production in Austria

In value terms, rennet production dropped to $X in 2021 estimated in export price. In general, production saw a deep downturn. The pace of growth was the most pronounced in 2020 with an increase of 34%. Rennet production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Rennet Exports

Exports from Austria

In 2021, rennet exports from Austria dropped modestly to X tons, which is down by -3.8% against 2020 figures. In general, exports saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 79%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, rennet exports soared to $X in 2021. Over the period under review, total exports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +124.7% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 65%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Denmark (X tons) was the main destination for rennet exports from Austria, accounting for a 99% share of total exports. It was followed by Switzerland (X tons), with a 0.6% share of total exports. The third position in this ranking was taken by Germany (X kg), with less than 0.1% share.

From 2012 to 2021, the average annual growth rate of volume to Denmark totaled +78.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (-32.6% per year) and Germany (-64.8% per year).

In value terms, Denmark ($X) remains the key foreign market for rennet and concentrates thereof exports from Austria, comprising 100% of total exports. The second position in the ranking was held by Switzerland ($X), with a 0.4% share of total exports. It was followed by Germany, with less than 0.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Denmark stood at +80.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (-29.7% per year) and Germany (-62.0% per year).

Export Prices by Country

In 2021, the average rennet export price amounted to $X per ton, jumping by 42% against the previous year. Over the last nine years, it increased at an average annual rate of +4.6%. The growth pace was the most rapid in 2013 when the average export price increased by 42% against the previous year. The export price peaked in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Italy ($X per ton), while the average price for exports to Switzerland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+38.4%), while the prices for the other major destinations experienced more modest paces of growth.

Rennet Imports

Imports into Austria

In 2021, the amount of rennet and concentrates thereof imported into Austria rose to X tons, with an increase of 2.2% against 2020 figures. In general, imports, however, recorded a slight reduction. The most prominent rate of growth was recorded in 2013 with an increase of 185%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, rennet imports contracted notably to $X in 2021. Overall, imports, however, continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2013 when imports increased by 148%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Germany (X tons) was the main rennet supplier to Austria, accounting for a 94% share of total imports. Moreover, rennet imports from Germany exceeded the figures recorded by the second-largest supplier, Denmark (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +40.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+30.2% per year) and the Netherlands (-32.3% per year).

In value terms, Germany ($X) constituted the largest supplier of rennet and concentrates thereof to Austria, comprising 89% of total imports. The second position in the ranking was taken by Denmark ($X), with an 8.1% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +21.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+34.7% per year) and the Netherlands (-33.1% per year).

Import Prices by Country

The average rennet import price stood at $X per ton in 2021, shrinking by -29.2% against the previous year. Overall, the import price continues to indicate a pronounced decline. The pace of growth was the most pronounced in 2020 an increase of 59%. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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