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Report Western Africa - Rennet and Concentrates Thereof - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

Western Africa - Rennet and Concentrates Thereof - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Rennet Market 2024

Rennet Market Size in Western Africa

After four years of growth, the West African rennet market decreased by -8.8% to $X in 2021. Overall, consumption, however, continues to indicate prominent growth. The level of consumption peaked at $X in 2020, and then reduced in the following year.

Rennet Production in Western Africa

In value terms, rennet production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, recorded resilient growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by 41% against the previous year. The level of production peaked at $X in 2020, and then reduced in the following year.

Rennet Exports

Exports in Western Africa

After two years of growth, shipments abroad of rennet and concentrates thereof decreased by -82.6% to X kg in 2020. Overall, exports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 177% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2020, the exports failed to regain momentum.

In value terms, rennet exports reduced markedly to $X in 2020. In general, exports, however, posted a strong increase. The growth pace was the most rapid in 2019 when exports increased by 70% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2020, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Sierra Leone (X kg), together accounting for 100% of total export.

Sierra Leone experienced a relatively flat trend pattern with regard to volume of exports of rennet and concentrates thereof. While the share of Sierra Leone (+99 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

From 2012 to 2020, the average annual rate of growth in terms of value in Sierra Leone was relatively modest.

Export Prices by Country

In 2020, the export price in Western Africa amounted to $X per ton, jumping by 97% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the export price increased by 277%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2020, the export prices remained at a lower figure.

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

From 2012 to 2020, the rate of growth in terms of prices for Sierra Leone amounted to 0.0% per year.

Rennet Imports

Imports in Western Africa

In 2021, supplies from abroad of rennet and concentrates thereof decreased by -7.4% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 245% against the previous year. The volume of import peaked at X tons in 2020, and then contracted in the following year.

In value terms, rennet imports expanded remarkably to $X in 2021. Overall, imports, however, saw a notable increase. The most prominent rate of growth was recorded in 2019 when imports increased by 117% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the near future.

Imports by Country

Nigeria dominates imports structure, amounting to X tons, which was approx. 88% of total imports in 2021. It was distantly followed by Ghana (X tons), achieving a 7% share of total imports. The following importers - Senegal (X tons) and Mauritania (X tons) - each accounted for a 4.6% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to rennet imports into Nigeria stood at +16.4%. At the same time, Mauritania (+46.4%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +46.4% from 2012-2021. Ghana experienced a relatively flat trend pattern. By contrast, Senegal (-23.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Nigeria and Mauritania increased by +48 and +2.1 percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported rennet and concentrates thereof in Western Africa, comprising 87% of total imports. The second position in the ranking was held by Senegal ($X), with a 4.6% share of total imports. It was followed by Mauritania, with a 4.1% share.

In Nigeria, rennet imports expanded at an average annual rate of +16.2% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (-22.9% per year) and Mauritania (+35.9% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, with an increase of 15% against the previous year. Overall, the import price, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2013 an increase of 51% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Senegal ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of rennet consumption in 2020 were Cote d'Ivoire, Senegal and Benin, together comprising 55% of total consumption.
The countries with the highest volumes of rennet production in 2020 were Cote d'Ivoire, Senegal and Benin, together accounting for 57% of total production. Mauritania, Sierra Leone, Liberia and Gambia lagged somewhat behind, together comprising a further 43%.
In value terms, Nigeria constitutes the largest market for imported rennet and concentrates thereof in Western Africa, comprising 91% of total imports. The second position in the ranking was occupied by Ghana, with an 8.8% share of total imports.
In 2020, the rennet export price in Western Africa amounted to $3,216 per ton, reducing by -13% against the previous year.
In 2020, the rennet import price in Western Africa amounted to $18,570 per ton, with an increase of 78% against the previous year.

This report provides an in-depth analysis of the rennet market in Western Africa. 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:

  • Benin
  • Burkina Faso
  • Cabo Verde
  • Gambia
  • Ghana
  • Guinea
  • Guinea-Bissau
  • Liberia
  • Mali
  • Mauritania
  • Niger
  • Nigeria
  • Saint Helena, Ascension and Tristan da Cunha
  • Senegal
  • Sierra Leone
  • Togo
  • Cote d'Ivoire

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Production in Western Africa, split by region and country
  • Trade (exports and imports) in Western Africa
  • 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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 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. 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. 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. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • Benin
    • Burkina Faso
    • Cabo Verde
    • Gambia
    • Ghana
    • Guinea
    • Guinea-Bissau
    • Liberia
    • Mali
    • Mauritania
    • Niger
    • Nigeria
    • Saint Helena, Ascension and Tristan da Cunha
    • Senegal
    • Sierra Leone
    • Togo
    • Cote d'Ivoire

  12. 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, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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