France: Rennet Market 2024

Rennet Market Size in France

The French rennet market expanded to $X in 2021, picking up by 3.8% against the previous year. Overall, consumption saw a prominent expansion. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in years to come.

Rennet Production in France

In value terms, rennet production totaled $X in 2021 estimated in export price. In general, production posted resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of 51%. Rennet production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Rennet Exports

Exports from France

In 2021, shipments abroad of rennet and concentrates thereof increased by 2.8% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, continue to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 303% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, rennet exports dropped notably to $X in 2021. In general, exports, however, continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 329% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons) was the main destination for rennet exports from France, accounting for a 47% share of total exports. Moreover, rennet exports to Spain exceeded the volume sent to the second major destination, Switzerland (X tons), twofold. The third position in this ranking was taken by Italy (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Spain totaled +23.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+1.7% per year) and Italy (-17.2% per year).

In value terms, the largest markets for rennet exported from France were Spain ($X), Switzerland ($X) and Italy ($X), with a combined 78% share of total exports. Greece, Portugal, the UK, Tunisia and Denmark lagged somewhat behind, together accounting for a further 10%.

The UK, with a CAGR of +29.9%, saw the highest growth rate of the value of exports, among 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

The average rennet export price stood at $X per ton in 2021, falling by -18.1% against the previous year. Overall, the export price showed a mild setback. The growth pace was the most rapid in 2014 an increase of 23%. Over the period under review, the average export prices reached the maximum at $X per ton in 2020, and then contracted dramatically in the following year.

Prices varied noticeably country of destination: the country with the highest price was Denmark ($X per ton), while the average price for exports to Italy ($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 Chile (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Rennet Imports

Imports into France

In 2021, supplies from abroad of rennet and concentrates thereof increased by 25% to X tons, rising for the second year in a row after four years of decline. Overall, imports posted strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 649%. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, rennet imports expanded remarkably to $X in 2021. In general, imports saw resilient growth. The pace of growth was the most pronounced in 2020 with an increase of 356% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest supplier of rennet to France, with a 59% share of total imports. Moreover, rennet imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Denmark (X tons), twofold. Italy (X tons) ranked third in terms of total imports with an 8.1% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands amounted to +28.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+1.2% per year) and Italy (+19.4% per year).

In value terms, the largest rennet suppliers to France were Denmark ($X), the Netherlands ($X) and Italy ($X), with a combined 91% share of total imports. These countries were followed by Turkey, which accounted for a further 5%.

Turkey, with a CAGR of +80.5%, recorded the highest growth rate of the value of imports, in terms of 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, declining by -10.8% against the previous year. Over the period under review, the import price showed a perceptible curtailment. The pace of growth was the most pronounced in 2018 an increase of 49% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+15.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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