Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2020 |
| Fastest Growing Market: | Asia Pacific |
| Largest Market: | North America |
| CAGR: | 6.55 % |
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Market Overview
The global rennet market is projected to grow at a CAGR of 6.55% during the forecast period (2020 - 2025).
- Rennet, also called coagulants, contains enzymes such as chymosin, pepsin, and lipase. The functions of this complex enzyme include the filtration of milk into solid curds for cheese making and liquid whey.
- The demand for rennet is expected to increase, owing to its use as the main ingredient for cheese making. The United States is one of the largest producers of cheese and about 70% of it is produced with rennet. The growing preference among consumers for cheese, as an integral part of their diets, is expected to boost the market for rennet.
Scope of the Report
The global rennet market is segmented by type and form. Based on type, the market is segmented into animal-derived rennet, microbial rennet, FPC-Fermentation Produced Chymosin rennet, vegetable rennet. Based on form, the market is segmented into liquid, powder, paste. Based on geography, the study provides an analysis of the rennet market in the emerging and established markets across the globe, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
| By Type | |
| Animal-Derived Rennet | |
| Microbial Rennet | |
| FPC-Fermentation Produced Chymosin Rennet | |
| Vegetable Rennet |
| By Form | |
| Liquid | |
| Powder | |
| Paste |
| Geography | |||||||||
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Key Market Trends
Growing Cheese Market is Expected to Boost the Market for Rennet
Rennet is used for about 70% of the US cheese and 33% for the cheese production across the globe. Earlier, the use of animal rennet was normal, however as it is an expensive enzyme, various attempts have been made to find cheaper alternatives from microbial sources, over the years. These attempts were successful and Fermentation Produced Chymosin (FPC) was produced. FPC is considered to have high cheese yield per quantity of milk and produces a better-tasting cheese, with a prolonged shelf-life. These functional attributes boosted the use of FPC in most cheese producing companies in the United States; about 80% of the total cheese production in the country is made with FPC.
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North America Market Holds the Major Market Share
North America is expected to account for the largest market share followed by Europe. Also, the flexitarian and vegan populations are increasing at a high rate in North America and Europe is driving the demand for rennet in the region. Thus, the manufacturers of rennet have an opportunity to establish themselves in these regions. Thus, the increasing number of vegan population and the demand for cheese are anticipated to drive the sales of microbial rennet. In the Asia-Pacific region. the high youth population, changing consumer preferences, the influence of western cultures, preference for convenience, etc. are estimated to serve as a driver for the increase in demand for cheese in the region, which is further expected to increase the demand for rennet.
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Competitive Landscape
Some of the major market players in the rennet market, globally includes Chr. Hansen Holding A/S, Fonterra Co-operative Group, Clarion Casein Ltd., Enzyme Supplies Limited, Koninklijke DSM N.V., among others.
Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Force Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type
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5.1.1 Animal-Derived Rennet
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5.1.2 Microbial Rennet
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5.1.3 FPC-Fermentation Produced Chymosin Rennet
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5.1.4 Vegetable Rennet
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5.2 By Form
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5.2.1 Liquid
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5.2.2 Powder
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5.2.3 Paste
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5.3 Geography
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5.3.1 North America
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5.3.1.1 United States
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5.3.1.2 Canada
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5.3.1.3 Mexico
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5.3.1.4 Rest of North America
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5.3.2 Europe
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5.3.2.1 United Kingdom
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5.3.2.2 Germany
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5.3.2.3 France
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5.3.2.4 Russia
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5.3.2.5 Italy
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5.3.2.6 Spain
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5.3.2.7 Rest of Europe
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5.3.3 Asia Pacific
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5.3.3.1 India
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5.3.3.2 China
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5.3.3.3 Japan
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5.3.3.4 Australia
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5.3.3.5 Rest of Asia-Pacific
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5.3.4 Rest of the World
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5.3.4.1 South America
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5.3.4.2 Middle East
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5.3.4.3 Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Most Active Companies
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6.2 Most Adopted Strategies
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6.3 Market Position Analysis
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6.4 Company Profiles
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6.4.1 Chr. Hansen Holding A/S
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6.4.2 Renco
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6.4.3 DuPont
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6.4.4 Clarion Casein Ltd.
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6.4.5 Fonterra Co-operative Group
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6.4.6 WalcoRen
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6.4.7 Enzyme Supplies Limited
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6.4.8 Koninklijke DSM N.V.
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Rennet Market market is studied from 2016 - 2026.
What is the growth rate of Rennet Market?
The Rennet Market is growing at a CAGR of 6.55% over the next 5 years.
Which region has highest growth rate in Rennet Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Rennet Market?
North America holds highest share in 2020.
Who are the key players in Rennet Market?
Chr. Hansen Holding A/S, Renco, DuPont, Fonterra Co-operative Group, Koninklijke DSM N.V. are the major companies operating in Rennet Market.
