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ECOWAS - Rennet and Concentrates Thereof - Market Analysis, Forecast, Size, Trends and Insights
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View PricingECOWAS: Rennet Market 2024
Rennet Market Size in ECOWAS
In 2023, the ECOWAS rennet market was finally on the rise to reach $X for the first time since 2020, thus ending a two-year declining trend. Over the period under review, consumption enjoyed a resilient expansion. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2023, consumption failed to regain momentum.
Rennet Production in ECOWAS
In value terms, rennet production amounted to $X in 2023 estimated in export price. Overall, production showed a tangible expansion. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2023, production failed to regain momentum.
Rennet Exports
Exports in ECOWAS
In 2020, overseas shipments of rennet and concentrates thereof decreased by X% to X kg for the first time since 2017, thus ending a two-year rising trend. Overall, exports recorded a sharp contraction. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The volume of export peaked at X tons in 2013; however, from 2014 to 2020, the exports stood at a somewhat lower figure.
In value terms, rennet exports contracted significantly to $X in 2020. Over the period under review, exports recorded a dramatic descent. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2020, the exports remained at a lower figure.
Exports by Country
The biggest shipments were from Sierra Leone (X kg), together accounting for X% 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 (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.
In Sierra Leone, rennet exports remained relatively stable over the period from 2013-2020.
Export Prices by Country
In 2020, the export price in ECOWAS amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the export price enjoyed a prominent increase. The pace of growth was the most pronounced in 2018 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 to 2020, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for Sierra Leone.
From 2013 to 2020, the rate of growth in terms of prices for Sierra Leone amounted to X% per year.
Rennet Imports
Imports in ECOWAS
For the sixth year in a row, ECOWAS recorded growth in overseas purchases of rennet and concentrates thereof, which increased by X% to X tons in 2023. In general, imports showed significant growth. The pace of growth appeared the most rapid in 2022 when imports increased by X%. Over the period under review, imports hit record highs in 2023 and are likely to see gradual growth in years to come.
In value terms, rennet imports soared to $X in 2023. Over the period under review, imports recorded a significant increase. The pace of growth appeared the most rapid in 2022 when imports increased by X%. Over the period under review, imports reached the peak figure in 2023 and are expected to retain growth in the immediate term.
Imports by Country
Nigeria (X tons) represented roughly X% of total imports in 2023.
Nigeria was also the fastest-growing in terms of the rennet and concentrates thereof imports, with a CAGR of X% from 2012 to 2023. While the share of Nigeria (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Nigeria ($X) constitutes the largest market for imported rennet and concentrates thereof in ECOWAS.
From 2012 to 2023, the average annual growth rate of value in Nigeria amounted to X%.
Import Prices by Country
The import price in ECOWAS stood at $X per ton in 2023, reducing by X% against the previous year. Overall, the import price recorded a pronounced decline. The growth pace was the most rapid in 2015 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2023, import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for Nigeria.
From 2012 to 2023, the rate of growth in terms of prices for Nigeria amounted to X% per year.
Source: IndexBox Platform
This report provides an in-depth analysis of the rennet market in ECOWAS. 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
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in ECOWAS, split by region and country
- Trade (exports and imports) in ECOWAS
- 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
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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
- CONSUMPTION BY COUNTRY
- 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
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- 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 -
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
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 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
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 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, 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, 2012–2023
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