Japan: Rennet Market 2024

Rennet Market Size in Japan

In 2023, the Japanese rennet market increased by X% to $X for the first time since 2019, thus ending a three-year declining trend. In general, the total consumption indicated a moderate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2019 indices. Rennet consumption peaked at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Rennet Production in Japan

In value terms, rennet production surged to $X in 2023 estimated in export price. In general, the total production indicated a notable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of X%. Rennet production peaked at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Rennet Exports

Exports from Japan

In 2023, overseas shipments of rennet and concentrates thereof decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Overall, exports, however, enjoyed a temperate increase. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2022, and then fell remarkably in the following year.

In value terms, rennet exports shrank to $X in 2023. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Denmark (X tons) was the main destination for rennet exports from Japan, accounting for a X% share of total exports. Moreover, rennet exports to Denmark exceeded the volume sent to the second major destination, the United States (X tons), fourfold. The third position in this ranking was taken by Germany (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Denmark amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Germany (X% per year).

In value terms, Denmark ($X) remains the key foreign market for rennet and concentrates thereof exports from Japan, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Denmark stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Germany (X% per year).

Export Prices by Country

In 2023, the average rennet export price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price, however, saw a perceptible slump. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Rennet Imports

Imports into Japan

After two years of growth, supplies from abroad of rennet and concentrates thereof decreased by X% to X tons in 2023. In general, imports showed a abrupt descent. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.

In value terms, rennet imports dropped to $X in 2023. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, New Zealand (X tons) constituted the largest supplier of rennet to Japan, with a X% share of total imports. Moreover, rennet imports from New Zealand exceeded the figures recorded by the second-largest supplier, Denmark (X tons), twofold.

From 2012 to 2023, the average annual rate of growth in terms of volume from New Zealand amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (X% per year) and France (X% per year).

In value terms, New Zealand ($X) constituted the largest supplier of rennet and concentrates thereof to Japan, comprising X% of total imports. The second position in the ranking was taken by Denmark ($X), with a X% share of total imports.

From 2012 to 2023, the average annual growth rate of value from New Zealand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (X% per year) and France (X% per year).

Import Prices by Country

In 2023, the average rennet import price amounted to $X per ton, almost unchanged from the previous year. Overall, the import price enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2019 when the average import price increased by X%. The import price peaked at $X per ton in 2021; however, from 2022 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform