Czech Republic: Rennet Market 2024

Rennet Market Size in the Czech Republic

The Czech rennet market fell to $X in 2021, shrinking by -5.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, posted a resilient increase. Rennet consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Rennet Exports

Exports from the Czech Republic

In 2021, approx. X kg of rennet and concentrates thereof were exported from the Czech Republic; rising by 75% against the previous year's figure. In general, exports, however, continue to indicate a perceptible descent. The pace of growth was the most pronounced in 2019 with an increase of 1,455%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, rennet exports stood at $X in 2021. Over the period under review, exports enjoyed a mild increase. The growth pace was the most rapid in 2019 with an increase of 291%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Germany (X kg) was the main destination for rennet exports from the Czech Republic, accounting for a 61% share of total exports. Moreover, rennet exports to Germany exceeded the volume sent to the second major destination, Slovakia (X kg), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany totaled +87.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (-15.8% per year) and Serbia (+42.3% per year).

In value terms, the largest markets for rennet exported from the Czech Republic were Serbia ($X), Slovakia ($X) and Germany ($X).

Among the main countries of destination, Germany, with a CAGR of +75.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average rennet export price amounted to $X per ton, with a decrease of -36.1% against the previous year. Overall, the export price, however, enjoyed notable growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 157% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Serbia ($X per ton), while the average price for exports to Germany ($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 Slovakia (+6.2%), while the prices for the other major destinations experienced a decline.

Rennet Imports

Imports into the Czech Republic

In 2021, approx. X tons of rennet and concentrates thereof were imported into the Czech Republic; falling by -14.8% against 2020. Overall, imports, however, enjoyed a perceptible expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 69%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, rennet imports totaled $X in 2021. In general, imports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 85% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Poland (X tons) constituted the largest rennet supplier to the Czech Republic, accounting for a 60% share of total imports. Moreover, rennet imports from Poland exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. The Netherlands (X tons) ranked third in terms of total imports with a 6.1% share.

From 2012 to 2021, the average annual growth rate of volume from Poland totaled +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-1.1% per year) and the Netherlands (+111.0% per year).

In value terms, the largest rennet suppliers to the Czech Republic were Poland ($X), Italy ($X) and the Netherlands ($X), together comprising 94% of total imports.

The Netherlands, with a CAGR of +137.4%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average rennet import price stood at $X per ton in 2021, picking up by 23% against the previous year. In general, import price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +10.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, rennet import price increased by +71.0% against 2019 indices. The growth pace was the most rapid in 2013 when the average import price increased by 52%. Over the period under review, average import prices hit record highs in 2021 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+12.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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