The global rennet market size is projected to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to its use as the main ingredient for cheese making.
Rennet is a composite set of coagulants that are spontaneously synthesized in the guts of ruminant mammals. Its primary constituents are pepsin, chymosin, and lipase.
Rennet main function is to filter milk into thick curds for cheese and liquid whey manufacturing. Besides this, it has other applications such as analogue or melted cheese (especially pizzas), delicatessen, meat salting industry, and entremets preparation.
Rennet enzymes are increasingly being used for milk coagulation due to their ability to coagulate milk at normal pH levels while increasing activity with lowering ph. One of the primary reasons driving the market is the increasing demand for fermentation generated chymosin rennet for milk coagulation due to its stability.
Previously, the usage of animal rennet was common; however, because it is a costly enzyme, many attempts have been undertaken over the years to develop cheaper substitutes from microbial sources.
Rising vegan population and ban against animal cruelty has put a pressure on manufactures to use microbial rennet which is generated by living organisms such as fungus, mold, or yeast. The living organisms are grown in a lab, where the environment is regulated and monitored to ensure that the appropriate number of fungi, mold, or yeast is produced.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for convenience foods is projected to boost the market.
- Growing ready-to-eat (RTE) market is anticipated to drive the market in the coming years.
- Rising demand for cheese and various cheese flavors are expected to propel the market.
- Rapid revolution of foodservice industry is the key factor driving the market in the coming years.
- Rising health concerns and trend for low fat food are projected to hamper the market growth.
- Increasing focus on environment-friendly products and protest for animal rennet act as key factors that restricts the market growth during the forecast period.
- R&D investment and technological advancement on microbial and GMO based rennet production is expected to create immense opportunities for the market players.
Scope of the Report
The report on the global rennet market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes
|
Details
|
|
Report Title
|
Rennet Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
|
Base Year
|
2020
|
|
Historic Data
|
2018–2019
|
|
Forecast Period
|
2021–2028
|
|
Segmentation
|
Forms (Powder, Liquid, and Paste), Types (Microbial Rennet, FPC-Fermentation Produced Chymosin Rennet, Animal-Derived Rennet, and Vegetable Rennet)
|
|
Regional Scope
|
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
|
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
|
Key Players Covered in the Report
|
Fonterra Co-operative Group; Koninklijke DSM N.V.; Chr. Hansen Holding A/S; Renco; DuPont
|
Global Rennet Market Segment Insights
The liquid segment is projected to account for a major market share
Based on forms, the rennet market is divided into powder, liquid, and paste. The liquid segment is expected to represent a key share of the market during the forecast period. Liquid can be measured more precisely and is more evenly distributed so it is used more often by cheese makers.
The FPC-fermentation produced chymosin rennet segment is expected to grow at a robust pace
On the basis of types, the rennet market is segmented into microbial rennet, FPC-fermentation produced chymosin rennet, animal-derived rennet, and vegetable rennet. The FPC-fermentation produced chymosin rennet segment is expected to hold a key share of the market in the coming years owing to higher cheese yield per quantity of milk and a better-tasting cheese with a longer shelf-life.
North America is expected to dominate the market
On the basis of regions, the rennet market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during the forecast period. The regional market growth can be attributed to increasing consumption of fast food and ready to eat food. However, Asia Pacific is expected to exhibit a rapid growth rate in the coming years due to entry of various international brands in countries such as India, China, Japan, and others.
Segments
Segments Covered in the Report
The rennet market has been segmented on the basis of
Forms
Types
- Microbial Rennet
- FPC-fermentation Produced Chymosin Rennet
- Animal-derived Rennet
- Vegetable Rennet
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Fonterra Co-operative Group
- Koninklijke DSM N.V.
- Chr. Hansen Holding A/S
- Renco
- DuPont
Competitive Landscape
Key players competing in the rennet market include Fonterra Co-operative Group; Koninklijke DSM N.V.; Chr. Hansen Holding A/S; Renco; DuPont.
Some of these players are focusing on business strategies including partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
Request For Customization
Enquiry Before Buying
Speak With Analyst
