Report Update Nov 1, 2024

Saudi Arabia - Rennet and Concentrates Thereof - Market Analysis, Forecast, Size, Trends and Insights

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Saudi Arabia: Rennet Market 2024

Rennet Market Size in Saudi Arabia

In 2021, the Saudi rennet market decreased by -5.5% to $X for the first time since 2015, thus ending a five-year rising trend. Overall, consumption, however, recorded a buoyant increase. Rennet consumption peaked at $X in 2020, and then reduced in the following year.

Rennet Production in Saudi Arabia

In value terms, rennet production dropped to $X in 2021 estimated in export price. In general, production, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 105%. Over the period under review, production reached the maximum level at $X in 2020, and then fell in the following year.

Rennet Exports

Exports from Saudi Arabia

In 2021, overseas shipments of rennet and concentrates thereof decreased by -19.4% to X kg, falling for the sixth year in a row after two years of growth. In general, exports saw a sharp shrinkage. The growth pace was the most rapid in 2015 with an increase of 247%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, rennet exports shrank remarkably to $X in 2021. Over the period under review, exports showed a sharp reduction. The most prominent rate of growth was recorded in 2015 with an increase of 201% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Sudan (X kg) was the main destination for rennet exports from Saudi Arabia, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sudan amounted to -37.8%.

In value terms, Sudan ($X) also remains the key foreign market for rennet and concentrates thereof exports from Saudi Arabia.

From 2012 to 2021, the average annual growth rate of value to Sudan amounted to -26.4%.

Export Prices by Country

The average rennet export price stood at $X per ton in 2021, stabilizing at the previous year. In general, the export price enjoyed a prominent increase. The growth pace was the most rapid in 2016 an increase of 210%. Over the period under review, the average export prices hit record highs in 2021 and is likely to see gradual growth in years to come.

As there is only one major export destination, the average price level is determined by prices for Sudan.

From 2012 to 2021, the rate of growth in terms of prices for Sudan amounted to +18.4% per year.

Rennet Imports

Imports into Saudi Arabia

In 2014, approx. X tons of rennet and concentrates thereof were imported into Saudi Arabia; jumping by 36% on the previous year's figure. The total import volume increased at an average annual rate of +9.8% from 2012 to 2014; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, rennet imports expanded to $X in 2014. The total import value increased at an average annual rate of +5.4% from 2012 to 2014; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 9.2%. Over the period under review, imports reached the maximum in 2014 and are expected to retain growth in years to come.

Imports by Country

In 2014, Finland (X tons) constituted the largest supplier of rennet to Saudi Arabia, accounting for a approx. 80% share of total imports.

From 2012 to 2014, the average annual rate of growth in terms of volume from Finland totaled -1.3%.

In value terms, Finland ($X) constituted the largest supplier of rennet and concentrates thereof to Saudi Arabia.

From 2012 to 2014, the average annual growth rate of value from Finland totaled -5.2%.

Import Prices by Country

The average rennet import price stood at $X per ton in 2014, shrinking by -25.3% against the previous year. Overall, the import price showed a noticeable descent. The most prominent rate of growth was recorded in 2013 an increase of 23%. As a result, import price reached the peak level of $X per ton, and then fell sharply in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2014, the country with the highest price was Denmark ($X per ton), while the price for Finland amounted to $X per ton.

From 2012 to 2014, the most notable rate of growth in terms of prices was attained by Denmark (+9.0%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for rennet and concentrates thereof in the world?

The countries with the highest volumes of rennet consumption in 2020 were China, the United States and India, with a combined 40% share of global consumption. Japan, Pakistan, Germany, Italy, Brazil, Indonesia, Turkey, France, the UK and Mexico lagged somewhat behind, together accounting for a further 33%.

What are the largest producers of rennet and concentrates thereof in the world?

The countries with the highest volumes of rennet production in 2020 were China, the United States and India, with a combined 40% share of global production. These countries were followed by Germany, Japan, Pakistan, Italy, Brazil, Indonesia, Turkey, Denmark, France and Mexico, which together accounted for a further 36%.

What are the leading suppliers of rennet and concentrates thereof to Saudi Arabia?

In value terms, Finland constituted the largest supplier of rennet to Saudi Arabia.

What are the leading importers of rennet and concentrates thereof from Saudi Arabia?

In value terms, Sudan remains the key foreign market for rennet exports from Saudi Arabia.

What is the average export price for rennet and concentrates thereof in Saudi Arabia?

The average rennet export price stood at $2,117 per ton in 2020, leveling off at the previous year.

What is the average import price for rennet and concentrates thereof in Saudi Arabia?

The average rennet import price stood at $7,460 per ton in 2014, with a decrease of -22.7% against the previous year.

This report provides an in-depth analysis of the rennet market in Saudi Arabia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20146450 - Rennet and concentrates thereof

Country coverage:

Saudi Arabia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Saudi Arabia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023