Rennet Market - Forecast(2023 - 2028)

Report Code: FBR 70787 Report Format: PDF + Excel

Rennet Market Overview

Rennet Market size is estimated to reach $782.1 million by 2026, growing at a CAGR of 4.2% during the forecast period 2021-2026. Rennet enzymes are a complex set of enzymes produced in ruminant mammals. Rennet enzyme’s key component is a protease enzyme that curdles the casein and is synthesized by gastric chief cells in the stomach of some animals. These enzymes are increasingly being used in milk coagulation owing to their ability to coagulate milk at the normal pH of milk even if the activity increases with decreasing pH. The rise in the demand for animal-derived rennet for protein catabolism, growing adoption of quality rennet for protease enzymes, technological advancements in the cheese manufacturing industry in developed nations, and growing investment by the key players to develop quality rennet enzymes are the factors that are set to drive the growth of the Rennet Market for the period 2021-2026.

Report Coverage

The report: Rennet Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Rennet Market.
By Type: Animal-Derived Rennet, Microbial Rennet, Vegetable Rennet, and Fermentation Produced Chymosin Rennet.
By Source: Animal and Microbial.
By Form: Liquid, Powder, and Paste.
By Application: Cheese, Dessert, Yogurt, and Others.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America) and Rest of the World (the Middle East and Africa).

Key Takeaways

  • Geographically, North American Rennet Market accounted for the highest revenue share in 2020 and is poised to dominate over the period 2021-2026 owing to the rise in the adoption of quality rennet for protease enzymes.
  • The increase in the demand for animal-derived rennet for protein catabolism is driving the Animal-Derived Rennet segment. However, the rise in the availability of substitutes is one of the major factors that is said to reduce the growth of the Rennet Market.
  • Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Rennet Market report.

Rennet Market Size, By Type, 2020-2026 (USD Million)

Rennet Market
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Rennet Market Segment Analysis-By Type

The Rennet Market based on the Type can be further segmented into Animal-Derived Rennet, Microbial Rennet, Vegetable Rennet, and Fermentation Produced Chymosin Rennet. The Animal-Derived Rennet segment held the largest share in 2020 owing to the factors such as the rise in the demand for animal-derived rennet for protein catabolism and increasing product launches by the key players. The rise in the adoption of animal-derived rennet for protease enzymes is driving the growth of the Rennet Market. The Fermentation Produced Chymosin Rennet segment is estimated to be the fastest growing segment with a CAGR of 4.7% over the period 2021-2026. This growth is owing to the factors such as the growing adoption of fermentation produced chymosin rennet for milk coagulation and the rise in the research and development activities to develop quality fermentation produced chymosin rennet.

Rennet Market Segment Analysis - By Application

The Rennet Market based on the Application can be further segmented into Cheese, Dessert, Yogurt, and Others. The Cheese segment held the largest share in 2020 owing to the factors such as the increase in the adoption of animal-derived rennet for producing cheese and the rise in the investment by the key players to develop quality rennet enzymes for making cheese. The rise in the demand for microbial vegetable rennet to produce plant-based enzymes for cheese making is driving the growth of the Rennet Market. The Yogurt segment is estimated to be the fastest growing segment with a CAGR of 4.4% over the period 2021-2026. This growth is owing to the factors such as the rise in awareness among the patients about the availability of rennet enzymes for making yogurts and the growing demand for protease enzymes present in rennet for making yogurts.

Rennet Market Segment Analysis - By Geography

North America held the largest share with 36.1% of the overall market in 2020. The growth in this segment is owing to the factors such as the growing demand for animal-derived rennet for protein catabolism and an increase in product launches by key players. The increasing adoption of quality rennet for protease enzymes is driving the growth of the Rennet Market. Asia-Pacific segment is estimated to be the fastest growing segment over the period 2021-2026. The growth in this segment is owing to the factors such as the rise in the adoption of fermentation produced chymosin rennet for milk coagulation and growing investment by the key players to develop quality rennet enzymes.

Rennet Market Drivers

Rise in the Adoption of Rennet for Milk Coagulation

Rennet enzymes are increasingly being adopted for milk coagulation owing to their ability to coagulate milk at the normal pH of milk even if the activity increases with decreasing pH. The rise in the demand for fermentation produced chymosin rennet for milk coagulation owing to its stability is one of the major factors driving the growth of the Rennet Market.

Technological Advancements in Cheese Manufacturing Industry

The key players are largely increasing their dependence on fermentation produced chymosin rennet for cheese production and with the technological advancements, the demand for rennet enzymes is increasing owing to the large enzymatic production of chymosin. The cost-effectiveness of fermentation produced chymosin rennet is further propelling the growth of the Rennet Market.

Rennet Market Challenges

Rise in the Availability of Substitutes

The key players in the market are collaborating with other players to carry out various research and development activities for launching quality rennet for various applications. However, the rise in the availability of substitutes is one of the major factors that is estimated to reduce the growth of the Rennet Market.

Rennet Market Competitive Landscape:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Rennet Market. Key companies of this market are DuPont, Chr. Hansen Holding A/S, Enzyme Supplies Limited, Koninklijke DSM N.V., WalcoRen, Fonterra Co-operative Group, Clarion Casein Ltd., Renco, Mahaan Foods Ltd, and AlindaVelco S.A. among others.

Acquisitions/Product Launches:

  • In June 2020, Dupont has launched Chymostar rennet for new milk coagulating preparation for the dairy industry and to offer ripening kinetics. It can be used for producing any type of cheese, such as hard, semi-hard, low-fat, and ingredient cheeses, and is positioned to promote ideal curd formation.

Relevant Links:
Report Code: FBR 88374

Report Code: FBR 0027

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1. Rennet Market - Overview
    1.1 Definitions and Scope
2. Rennet Market - Executive Summary
    2.1 Market Revenue and Key Trends by Company
    2.2 Key trends by Type
    2.3 Key trends by Application
    2.4 Key trends by Geography
3. Rennet Market – Comparative Analysis
    3.1 Product Benchmarking – Key Companies
    3.2 Financial Analysis – Key Companies
    3.3 Market Value Split by Key Companies
    3.4 Patent Analysis – Key Companies
    3.5 Pricing Analysis
4. Rennet Market - Startup Companies Scenario Premium
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Rennet Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. Rennet Market Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Rennet Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Rennet Market – By Type(Market Size –$Million/$Billion)
    8.1 Animal-Derived Rennet
    8.2 Microbial Rennet
    8.3 Vegetable Rennet
    8.4 Fermentation Produced Chymosin Rennet
9. Rennet Market – By Source (Market Size –$Million/$Billion)
    9.1 Animal
    9.2 Microbial
10. Rennet Market – By Form (Market Size –$Million/$Billion)
    10.1 Liquid
    10.2 Powder
    10.3 Paste
11. Rennet Market – By Application (Market Size –$Million/$Billion)
    11.1 Cheese
    11.2 Dessert
    11.3 Yogurt
    11.4 Others
12. Rennet Market - By Geography (Market Size –$Million/$Billion)
    12.1 North America
        12.1.1 U.S.
        12.1.2 Mexico
        12.1.3 Canada
    12.2 Europe
        12.2.1 U.K.
        12.2.2 France
        12.2.3 Germany
        12.2.4 Italy
        12.2.5 Spain
        12.2.6 Russia
        12.2.7 Rest of Europe
    12.3 Asia Pacific
        12.3.1 China
        12.3.2 India
        12.3.3 Japan
        12.3.4 South Korea
        12.3.5 Australia & New Zealand
        12.3.6 Rest of Asia Pacific
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
        12.5.2 Africa
13. Rennet Market - Entropy
14. Rennet Market – Industry/Segment Competition Landscape Premium
    14.1 Market Share Analysis
        14.1.1 Global Market Share – Key Companies
        14.1.2 Market Share by Region – Key companies
        14.1.3 Market Share by Countries – Key Companies
        14.1.4 Best Practices for Companies
15. Rennet Market – Key Company List by Country Premium Premium
16. Rennet Market Company Analysis
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10
"*Financials for private companies would be provided on a best efforts basis”.

LIST OF TABLES

1.Market Segmentation Market 2019-2024 ($M)
1.1 By Type Market 2019-2024 ($M) - Industry Research
1.1.1 Animal-Derived Rennet Market 2019-2024 ($M)
1.1.2 Microbial Rennet Market 2019-2024 ($M)
1.1.3 FPC-Fermentation Produced Chymosin Rennet Market 2019-2024 ($M)
1.1.4 Vegetable Rennet Market 2019-2024 ($M)
2.Market Segmentation Market 2019-2024 (Volume/Units)
2.1 By Type Market 2019-2024 (Volume/Units) - Industry Research
2.1.1 Animal-Derived Rennet Market 2019-2024 (Volume/Units)
2.1.2 Microbial Rennet Market 2019-2024 (Volume/Units)
2.1.3 FPC-Fermentation Produced Chymosin Rennet Market 2019-2024 (Volume/Units)
2.1.4 Vegetable Rennet Market 2019-2024 (Volume/Units)
3.North America Market Segmentation Market 2019-2024 ($M)
3.1 By Type Market 2019-2024 ($M) - Regional Industry Research
3.1.1 Animal-Derived Rennet Market 2019-2024 ($M)
3.1.2 Microbial Rennet Market 2019-2024 ($M)
3.1.3 FPC-Fermentation Produced Chymosin Rennet Market 2019-2024 ($M)
3.1.4 Vegetable Rennet Market 2019-2024 ($M)
4.South America Market Segmentation Market 2019-2024 ($M)
4.1 By Type Market 2019-2024 ($M) - Regional Industry Research
4.1.1 Animal-Derived Rennet Market 2019-2024 ($M)
4.1.2 Microbial Rennet Market 2019-2024 ($M)
4.1.3 FPC-Fermentation Produced Chymosin Rennet Market 2019-2024 ($M)
4.1.4 Vegetable Rennet Market 2019-2024 ($M)
5.Europe Market Segmentation Market 2019-2024 ($M)
5.1 By Type Market 2019-2024 ($M) - Regional Industry Research
5.1.1 Animal-Derived Rennet Market 2019-2024 ($M)
5.1.2 Microbial Rennet Market 2019-2024 ($M)
5.1.3 FPC-Fermentation Produced Chymosin Rennet Market 2019-2024 ($M)
5.1.4 Vegetable Rennet Market 2019-2024 ($M)
6.APAC Market Segmentation Market 2019-2024 ($M)
6.1 By Type Market 2019-2024 ($M) - Regional Industry Research
6.1.1 Animal-Derived Rennet Market 2019-2024 ($M)
6.1.2 Microbial Rennet Market 2019-2024 ($M)
6.1.3 FPC-Fermentation Produced Chymosin Rennet Market 2019-2024 ($M)
6.1.4 Vegetable Rennet Market 2019-2024 ($M)
7.MENA Market Segmentation Market 2019-2024 ($M)
7.1 By Type Market 2019-2024 ($M) - Regional Industry Research
7.1.1 Animal-Derived Rennet Market 2019-2024 ($M)
7.1.2 Microbial Rennet Market 2019-2024 ($M)
7.1.3 FPC-Fermentation Produced Chymosin Rennet Market 2019-2024 ($M)
7.1.4 Vegetable Rennet Market 2019-2024 ($M)

LIST OF FIGURES

1.US Rennet Market Revenue, 2019-2024 ($M)
2.Canada Rennet Market Revenue, 2019-2024 ($M)
3.Mexico Rennet Market Revenue, 2019-2024 ($M)
4.Brazil Rennet Market Revenue, 2019-2024 ($M)
5.Argentina Rennet Market Revenue, 2019-2024 ($M)
6.Peru Rennet Market Revenue, 2019-2024 ($M)
7.Colombia Rennet Market Revenue, 2019-2024 ($M)
8.Chile Rennet Market Revenue, 2019-2024 ($M)
9.Rest of South America Rennet Market Revenue, 2019-2024 ($M)
10.UK Rennet Market Revenue, 2019-2024 ($M)
11.Germany Rennet Market Revenue, 2019-2024 ($M)
12.France Rennet Market Revenue, 2019-2024 ($M)
13.Italy Rennet Market Revenue, 2019-2024 ($M)
14.Spain Rennet Market Revenue, 2019-2024 ($M)
15.Rest of Europe Rennet Market Revenue, 2019-2024 ($M)
16.China Rennet Market Revenue, 2019-2024 ($M)
17.India Rennet Market Revenue, 2019-2024 ($M)
18.Japan Rennet Market Revenue, 2019-2024 ($M)
19.South Korea Rennet Market Revenue, 2019-2024 ($M)
20.South Africa Rennet Market Revenue, 2019-2024 ($M)
21.North America Rennet By Application
22.South America Rennet By Application
23.Europe Rennet By Application
24.APAC Rennet By Application
25.MENA Rennet By Application
26.Osterreichische Laberzeugung Hundsbichler GmbH, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Renco, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Chr. Hansen, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Danisco Dupont, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Mittal Dairy Product, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Clarion Casein Ltd., Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Fonterra, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.WalcoRen, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Mahaan Proteins Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Sanmenxia Enzymes Products Factory, Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.Enzyme Supplies Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)