Global Rennet Market Insights Forecasts to 2033

• The Global Rennet Market Size was Valued at USD 719.90 Million in 2023
• The Market Size is Growing at a CAGR of 5.34% from 2023 to 2033
• The Worldwide Rennet Market Size is Expected to Reach USD 1211.25 Million by 2033
• North America is Expected to Grow the fastest during the forecast period.

The Global Rennet Market Size is Anticipated to Exceed USD 1211.25 Million by 2033, Growing at a CAGR of 5.34% from 2023 to 2033.  

Market Overview

A group of enzymes called rennet coagulates the proteins in milk, transforming it from a liquid into a solid curd that can be used to make cheese. The inner cavity of the fourth stomach of young ruminant animals, like goats, lambs, and calves, is usually the source of rennet. Animals and plants such as artichokes, nettles, and cardoons also contain rennet. One of the primary enzymes in the rennet mixture causing the milk to curdle is the protease chymosin, which causes the milk's casein to coagulate. A new opportunity is developing in the rennet market due to improved production techniques and growing environmental awareness of low-cost rennet. The market for rennet is expected to increase as people's demand for cheese as a staple of their diets continues to grow. The need for stable chymosin rennet, which is produced by fermentation and used to coagulate milk, is one of the primary factors driving the growth of the rennet market.  

Report Coverage

This research report categorizes the rennet market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the rennet market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the rennet market.

Driving Factors

The quick-service restaurant (QSR) business is growing both in developed and emerging countries, which is driving the growth of the rennet market. The market has grown as a result of factors such as the longer shelf life of dairy products, an increase in disposable income, and a rise in the demand for meals high in protein. The market for low-fat cheese is expanding, and producers in the market under study have fresh prospects for expansion due to numerous developments focused on improving the product's flavor and quality. Rennet demand is increasing as a result of the rising demand for cheese.   

Restraining Factors

The study indicates that several potential alternatives in the market represent limitations for traditional rennet, which in turn restrict the growth of the rennet market. 

Market Segmentation

The rennet market share is classified intotype and form.  

• The FPC-fermentation-produced chymosin rennet segment is estimated to hold the largest market revenue share through the projected period.  

Based on the type, the rennet market is classified into animal-derived rennet, microbial rennet, FPC-fermentation-produced chymosin rennet, and vegetable rennet. Among these, the FPC-fermentation-produced chymosin rennet segment is estimated to hold the largest market revenue share through the projected period. The FDA of the United States approved and registered FPC as the first artificially generated enzyme. Chymosin is recovered from the fermentation solution and the genetically modified microbe is removed after fermentation.

• The liquid segment is anticipated to hold the largest market share through the forecast period.

Based on the form, the rennet market is divided into liquid, powder, and paste. Among these, the liquid segment is anticipated to hold the largest market share through the forecast period. This is due to its ease of use and broad application in the production of different dairy products, including cheese, the liquid rennet is supported by a variety of International Milk Clotting Units, including 65, 280, 580, and 1000 IMCU/mL, among others.

Regional Segment Analysis of the Rennet Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Europe is anticipated to hold the largest share of the rennet market over the predicted timeframe.

Europe is anticipated to hold the largest share of the rennet market over the predicted timeframe. The demand for cheese and the growing vegan population are projected to drive microbial rennet sales. In the UK's cheese business, the need for rennet is driven by rising cheese production and high consumption. The need for rennet in European nations like Germany, France, Italy, and Russia is probably going to be driven by the growing cheese-making business that uses cutting-edge technologies and creative manufacturing methods.

North America is expected to grow at the fastest CAGR growth of the rennet market during the forecast period. Growing consumer health consciousness has raised the demand in the region for dairy products like cheese, which has raised the need for rennet and other enzymes needed for coagulation and cheese production. One of the main producers of cheese in the North American continent is the United States.  

Asia Pacific is anticipated to hold a significant share of the rennet market over the predicted timeframe. Asia-Pacific due to several factors, including the region's rapid acceptance of Western culture and rising disposable income, which have driven a spike in the demand for dairy products. In addition, Asian nations like China, India, and Japan are using more rennet in the production of cheese as the West consumes more cheeses like mozzarella and cheddar and spreads them in non-cheese applications.   

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the rennet market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Hansen Holding AS
• International Flavors & Fragrances Inc. (IFF)
• Intermak Inc.
• Sacco SRL
• Koninklijke DSM NV
• MAYASAN Food Industries AS
• Calza Clemente SRL
• Iran Industrial Enzymes Company
• AFFCO
• Yangzhou Chemical Co. Ltd.
• Bioactive Yeast Co. Ltd.,
• Chr. Hansen Holding AS
• Vahgan EV
• Tigra Co. Ltd.
• Others  

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In January 2023, Coombe Castle International, Atlanta's exclusive collaborate, announced that at the Winter Fancy Food Show in Las Vegas, they would present the world's first Official GUINNESSTM CHEDDAR. Guinness Stout is mixed with the cheddar curds to help absorb the rich flavor notes and provide them with a unique flavor profile.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the rennet market based on the below-mentioned segments: 

Global Rennet Market, By Type

• Animal-Derived Rennet
• Microbial Rennet
• FPC-Fermentation Produced Chymosin Rennet
• Vegetable Rennet

Global Rennet Market, By Form

• Liquid
• Powder
• Paste

Global Rennet Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa