U.S. - Rennet And Concentrates Thereof - Market Analysis, Forecast, Size, Trends And Insights
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View PricingRennet Price in the United States - 2023
Contents:
- Rennet Price in the United States (CIF) - 2023
- Rennet Price in the United States (FOB) - 2023
- Rennet Imports in the United States
- Rennet Exports in the United States
Rennet Price in the United States (CIF) - 2023
In August 2023, the average rennet import price amounted to $9,166 per ton, which is down by -24.4% against the previous month. Overall, the import price saw a pronounced reduction. The most prominent rate of growth was recorded in May 2023 when the average import price increased by 77% against the previous month. As a result, import price reached the peak level of $17,052 per ton. From June 2023 to August 2023, the average import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for Denmark.
From August 2022 to August 2023, the rate of growth in terms of prices for Japan amounted to +6.1% per month.
Rennet Price in the United States (FOB) - 2023
In August 2023, the average rennet export price amounted to $18,333 per ton, shrinking by -18.2% against the previous month. In general, export price indicated perceptible growth from August 2022 to August 2023: its price increased at an average monthly rate of +3.7% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2023 figures, rennet export price increased by +42.1% against April 2023 indices. The growth pace was the most rapid in May 2023 an increase of 52% month-to-month. The export price peaked at $22,411 per ton in July 2023, and then dropped markedly in the following month.
There were significant differences in the average prices for the major export markets. In August 2023, the country with the highest price was Nicaragua ($69,851 per ton), while the average price for exports to the UK ($11,997 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (+19.7%), while the prices for the other major destinations experienced more modest paces of growth.
Rennet Imports in the United States
In 2022, rennet imports into the United States shrank to 1.1K tons, dropping by -6% against the previous year. Overall, imports showed a slight shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 14%. As a result, imports reached the peak of 1.1K tons, and then reduced in the following year.
In value terms, rennet imports contracted markedly to $9.2M in 2022. The total import value increased at an average annual rate of +2.6% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 47%. As a result, imports attained the peak of $11M, and then reduced notably in the following year.
Import of Rennet in the United States (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Denmark | 7.0 | 5.8 | 8.5 | 7.2 | 0.9% |
Italy | 1.0 | 0.8 | 1.2 | 0.8 | -7.2% |
Turkey | 0.2 | 0.5 | 0.6 | 0.5 | 35.7% |
Japan | 0.1 | 0.1 | 0.1 | 0.4 | 58.7% |
Others | 0.2 | 0.3 | 0.6 | 0.3 | 14.5% |
Total | 8.6 | 7.5 | 11.0 | 9.2 | 2.3% |
Top Suppliers of Rennet to the United States in 2022:
- Denmark (913.5 tons)
- Japan (75.7 tons)
- Turkey (35.1 tons)
- Italy (23.4 tons)
Rennet Exports in the United States
Rennet exports from the United States fell rapidly to 134 tons in 2022, shrinking by -18.4% compared with the previous year's figure. Over the period under review, total exports indicated pronounced growth from 2019 to 2022: its volume increased at an average annual rate of +2.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +34.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 64% against the previous year. As a result, the exports reached the peak of 165 tons, and then fell notably in the following year.
In value terms, rennet exports reduced remarkably to $3M in 2022. Overall, exports, however, recorded resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of 96% against the previous year. As a result, the exports attained the peak of $4M, and then fell significantly in the following year.
Export of Rennet in the United States (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Canada | 1,250 | 580 | 1,443 | 1,853 | 14.0% |
Mexico | 141 | 212 | 229 | 387 | 40.0% |
Nicaragua | 101 | 167 | 261 | 208 | 27.2% |
Netherlands | 160 | 178 | 348 | 149 | -2.3% |
Panama | 90.1 | 81.8 | 865 | 74.9 | -6.0% |
Dominican Republic | 70.3 | 35.2 | 78.1 | 14.6 | -40.8% |
Ecuador | 168 | 121 | N/A | N/A | -28.0% |
Others | 425 | 660 | 772 | 329 | -8.2% |
Total | 2,407 | 2,035 | 3,997 | 3,016 | 7.8% |
Top Export Markets for Rennet from the United States in 2022:
- Canada (93.8 tons)
- Mexico (17.2 tons)
- Nicaragua (8.8 tons)
- Netherlands (2.6 tons)
- Panama (2.5 tons)
- Dominican Republic (0.6 tons)
This report provides an in-depth analysis of the rennet market in the U.S.. 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:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
This report provides an in-depth analysis of the rennet market in the U.S..
This report provides an in-depth analysis of the global rennet market.
This report provides an in-depth analysis of the rennet market in the U.S..
This report provides an in-depth analysis of the global rennet market.
In value terms, rennet imports declined to $836K in April 2023.
In value terms, rennet imports declined to $836K in April 2023.