Rennet Market Size, Share, Growth, Industry & Revenue [2031]
Rennet Market Size, Share, Growth, Industry & Revenue [2031]
Segments - Rennet Market by Forms (Powder, Liquid, and Paste), Types (Microbial Rennet, FPC-Fermentation Produced Chymosin Rennet, Animal-derived Rennet, and Vegetable Rennet), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :HC-3181
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| 170 Pages
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Report Description
The global rennet market size was valued at USD 683.67 Million in 2022 and is projected to reach USD 1.08 Billion by 2031, expanding at a CAGR of 5.3% during the forecast period, 2023-2031. 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
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Increasing demand for convenience foods is projected to boost the market.
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Growing ready-to-eat (RTE) market is anticipated to drive the market in the coming years.
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Rising demand for cheese and various cheese flavors are expected to propel the market.
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Rapid revolution of foodservice industry is the key factor driving the market in the coming years.
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Rising health concerns and trend for low fat food are projected to hamper the market growth.
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Increasing focus on environment-friendly products and protest for animal rennet act as key factors that restricts the market growth during the forecast period.
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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.
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Attributes |
Details |
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Report Title |
Rennet Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Forms (Powder, Liquid, and Paste), Types (Microbial Rennet, FPC-Fermentation Produced Chymosin Rennet, Animal-Derived Rennet, and Vegetable Rennet) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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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
The rennet market has been segmented on the basis of
Forms
- Powder
- Liquid
- paste
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.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Rennet Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Rennet Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Rennet Market - Supply Chain
4.5. Global Rennet Market Forecast
4.5.1. Rennet Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Rennet Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Rennet Market Absolute $ Opportunity
5. Global Rennet Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Rennet Market Size and Volume Forecast by Types
5.3.1. Microbial Rennet FPC-fermentation Produced Chymosin Rennet Animal-derived Rennet Vegetable Rennet
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Rennet Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Rennet Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Rennet Demand Share Forecast, 2019-2026
7. North America Rennet Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Rennet Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Rennet Market Size and Volume Forecast by Types
7.4.1. Microbial Rennet FPC-fermentation Produced Chymosin Rennet Animal-derived Rennet Vegetable Rennet
7.5. Basis Point Share (BPS) Analysis by Types
7.6. Y-o-Y Growth Projections by Types
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Rennet Demand Share Forecast, 2019-2026
8. Latin America Rennet Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Rennet Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Rennet Market Size and Volume Forecast by Types
8.4.1. Microbial Rennet FPC-fermentation Produced Chymosin Rennet Animal-derived Rennet Vegetable Rennet
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Rennet Demand Share Forecast, 2019-2026
9. Europe Rennet Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Rennet Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Rennet Market Size and Volume Forecast by Types
9.4.1. Microbial Rennet FPC-fermentation Produced Chymosin Rennet Animal-derived Rennet Vegetable Rennet
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Rennet Demand Share Forecast, 2019-2026
10. Asia Pacific Rennet Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Rennet Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Rennet Market Size and Volume Forecast by Types
10.4.1. Microbial Rennet FPC-fermentation Produced Chymosin Rennet Animal-derived Rennet Vegetable Rennet
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Rennet Demand Share Forecast, 2019-2026
11. Middle East & Africa Rennet Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Rennet Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Rennet Market Size and Volume Forecast by Types
11.4.1. Microbial Rennet FPC-fermentation Produced Chymosin Rennet Animal-derived Rennet Vegetable Rennet
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Rennet Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Rennet Market: Market Share Analysis
12.2. Rennet Distributors and Customers
12.3. Rennet Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Fonterra Co-operative Group Koninklijke DSM N.V. Chr. Hansen Holding A/S Renco DuPont
Methodology
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