Eastern Europe: Rennet Market 2024

Rennet Market Size in Eastern Europe

The East European rennet market declined to $X in 2021, waning by -4.8% against the previous year. The total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -6.2% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Rennet Production in Eastern Europe

In value terms, rennet production expanded rapidly to $X in 2021 estimated in export price. The total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -8.8% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 57% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Rennet Exports

Exports in Eastern Europe

In 2021, the amount of rennet and concentrates thereof exported in Eastern Europe fell notably to X tons, waning by -17.5% against the previous year. Over the period under review, exports, however, saw a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of 202% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, rennet exports reduced to $X in 2021. In general, exports, however, continue to indicate strong growth. The growth pace was the most rapid in 2020 when exports increased by 96% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Poland prevails in exports structure, finishing at X tons, which was approx. 88% of total exports in 2021. It was distantly followed by Lithuania (X tons), committing a 9.2% share of total exports.

Poland was also the fastest-growing in terms of the rennet and concentrates thereof exports, with a CAGR of +6.5% from 2012 to 2021. At the same time, Lithuania (+5.0%) displayed positive paces of growth. From 2012 to 2021, the share of Poland increased by +1.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) remains the largest rennet supplier in Eastern Europe, comprising 69% of total exports. The second position in the ranking was taken by Lithuania ($X), with a 20% share of total exports.

In Poland, rennet exports expanded at an average annual rate of +6.6% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, rising by 7.1% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the export price increased by 32%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Lithuania ($X per ton), while Poland stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+0.1%).

Rennet Imports

Imports in Eastern Europe

In 2021, rennet imports in Eastern Europe declined notably to X tons, falling by -32.9% compared with the previous year's figure. Overall, imports, however, enjoyed a tangible expansion. The growth pace was the most rapid in 2020 when imports increased by 59%. As a result, imports attained the peak of X tons, and then dropped remarkably in the following year.

In value terms, rennet imports shrank significantly to $X in 2021. In general, imports, however, continue to indicate buoyant growth. The growth pace was the most rapid in 2020 with an increase of 64% against the previous year. As a result, imports reached the peak of $X, and then contracted markedly in the following year.

Imports by Country

In 2021, Poland (X tons), distantly followed by Russia (X tons), Belarus (X tons) and Romania (X tons) were the key importers of rennet and concentrates thereof, together achieving 82% of total imports. Ukraine (X tons), Hungary (X tons) and Lithuania (X tons) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Ukraine (with a CAGR of +27.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest rennet importing markets in Eastern Europe were Poland ($X), Russia ($X) and Belarus ($X), together accounting for 74% of total imports. Romania, Ukraine, Lithuania and Hungary lagged somewhat behind, together accounting for a further 19%.

In terms of the main importing countries, Ukraine, with a CAGR of +27.0%, recorded the highest rates of growth with regard to 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

The import price in Eastern Europe stood at $X per ton in 2021, growing by 4.8% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the import price increased by 6.4% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+1.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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