Market Size of Rennet Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 758.72 Million |
| Market Size (2029) | USD 986.46 Million |
| CAGR (2024 - 2029) | 5.39 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Rennet Market Analysis
The Rennet Market size is estimated at USD 758.72 million in 2024, and is expected to reach USD 986.46 million by 2029, growing at a CAGR of 5.39% during the forecast period (2024-2029).
The demand for rennet is expected to increase, owing to its use as the main ingredient in cheese making. The United States is one of the world's largest cheese producers, and most 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. Rennet enzymes are increasingly being adopted for milk coagulation, owing to their ability to coagulate milk at a normal pH even if their activity increases with decreasing pH. One of the main things driving the growth of the rennet market is the rise in demand for stable chymosin rennet made through fermentation, which is used to coagulate milk.
Over the medium term, the increased environmental awareness and improved production methods of inexpensive rennet have created a new opportunity in the rennet market. It will cause an increase in the non-animal rennet market. In addition to this, a growing number of companies in the fast food and beverage product segment are expected to employ rennets in their manufacturing processes, thereby augmenting demand. The nutritional properties of rennets are expected to positively impact the rennet market.
