CIS: Rennet Market 2024

Rennet Market Size in CIS

The CIS rennet market was estimated at $X in 2022, surging by X% against the previous year. In general, consumption enjoyed strong growth. The level of consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Rennet Production in CIS

In value terms, rennet production shrank modestly to $X in 2022 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2019 with an increase of X%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Rennet Exports

Exports in CIS

In 2022, after three years of growth, there was significant decline in overseas shipments of rennet and concentrates thereof, when their volume decreased by X% to X tons. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2021, and then reduced dramatically in the following year.

In value terms, rennet exports fell sharply to $X in 2022. Overall, exports showed a abrupt contraction. The growth pace was the most rapid in 2014 with an increase of X%. The level of export peaked at $X in 2021, and then shrank remarkably in the following year.

Exports by Country

In 2022, Kazakhstan (X tons) was the major exporter of rennet and concentrates thereof, comprising X% of total exports. Russia (X kg) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Belarus (X%) and Armenia (X%). Azerbaijan (X kg) followed a long way behind the leaders.

Kazakhstan was also the fastest-growing in terms of the rennet and concentrates thereof exports, with a CAGR of X% from 2012 to 2022. At the same time, Russia (X%) and Armenia (X%) displayed positive paces of growth. Azerbaijan experienced a relatively flat trend pattern. By contrast, Belarus (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Kazakhstan, Russia, Armenia and Azerbaijan increased by X, X, X and X percentage points, respectively.

In value terms, the largest rennet supplying countries in the CIS were Russia ($X), Kazakhstan ($X) and Belarus ($X), with a combined X% share of total exports.

Kazakhstan, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price continues to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2013 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Armenia ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (X%), while the other leaders experienced mixed trends in the export price figures.

Rennet Imports

Imports in CIS

In 2022, imports of rennet and concentrates thereof in the CIS soared to X tons, with an increase of X% on 2021 figures. Over the period under review, imports recorded prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, rennet imports rose sharply to $X in 2022. Total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2013 indices. The pace of growth was the most pronounced in 2018 with an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Russia (X tons), Belarus (X tons) and Azerbaijan (X tons) represented roughly X% of total imports in 2022.

From 2012 to 2022, the biggest increases were recorded for Azerbaijan (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest rennet importing markets in the CIS were Russia ($X), Belarus ($X) and Azerbaijan ($X), with a combined X% share of total imports.

Azerbaijan, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the import price continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2021 an increase of X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Belarus ($X per ton), while Azerbaijan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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