all report title image
  • Published On : Aug 2022
  • Code : CMI5144
  • Industry : Food and Beverages
  • Pages : 157
  • Formats :

Rennet is an enzyme complex produced in the stomach of ruminant mammals. Its main component is chymosin, a protease enzyme that curdles the casein in milk. There are also other enzymes in rennet. Together, they help make milk more palatable.

Market Statistics:

The global rennet market was valued at US$ 683.1 Mn in 2021 and is forecast to reach a value of US$ 1080 Mn by 2030 at a CAGR of 5.39% between 2022 and 2030.

Europe held dominant position in the global rennet market in 2021, accounting for 46% share in terms of volume, followed by North America and Asia Pacific, respectively.

Figure 1. Global Rennet Market Value Share (%), By Region, 2021

Rennet  | Coherent Market Insights

Recent Developments:

  1. In October 2018, Chr. Hansen has expanded its enzyme production and presence into the traditional categories of specialty cheeses by acquiring the assets of Austrian-based ingredient supplier sterreichische Laberzeugung Hundsbichler GmbH, which will allow Chr. Hansen to provide cheesemakers with a product selection including animal rennet area.
  2. In August 2020, Renco invested multi-million USD to increase their rennet production capacity. The company has partnered with a The Cheese Connection, a distributor who supply Renco’s rennet to the United States. The expansion had doubled the company’s production capacity of rennet, which in turn strengthened its relationship with the The Cheese Connection.
CMI table icon

Rennet Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 683.1 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 5.39% 2030 Value Projection: US$ 1080 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Type: Animal-Derived Rennet, Microbial Rennet, FPC-Fermentation Produced Chymosin Rennet, Vegetable Rennet
  • By Form: Liquid, Powder, Paste
Companies covered:

Chr. Hansen Holding AS, AFFCO, International Flavors & Fragrances Inc., Intermak Inc., Punature Food Ingredient Co. Ltd, Walcovit Inc., Hebei Yoko Biotech Co. Ltd, Koninklijke DSM NV, MAYASAN Food Industries AS, Calza Clemente SRL, Iran Industrial Enzymes Company, and Sacco SRL

Growth Drivers:
  • Expanding cheese market
  • Growing health conscious consumers
Restraints & Challenges:
  • Limited consumption of rennet to high cheese manufacturing region
  • Increasing use of pepsin in place of rennet

Market Drivers:

Expanding cheese market due to increasing consumption of cheese is expected to foster growth of the rennet market. For instance, in the United States, the per person cheese consumption was 40.2 pounds in 2020, a slight increase from previous years. Cheddar cheese and mozzarella cheese remain the most popular varieties of cheese (US Department of Agriculture). Moreover, increasing acceptance of ethnic cooking, such as Italian and Mexican, which use require more cheese is another key factor contributing to the cheese market growth.

Growing number of vegetarian around the globe is driving demand for plant-based food products which also anticipated to augment market growth. As per the 2021 global survey conducted by the American product testing, inspection and certification organization- NSF International, about 88% of food industry practitioners expect the demand for plant-based products to increase, in coming years.

Figure 2. Global Rennet Market Value Share (%), By Form, 2021

Rennet  | Coherent Market Insights

Market Restraints:

The consumption of rennet is limited to high cheese producing regions such as North America and Europe. This restrict the scope of rennet. Thus, hampering growth of the market.

Rennet is being replacing with pepsin in the production of cheese as pepsin is much cheaper. This factor is again projected to hinder the market growth.

Market Opportunities:

Growing demand for plant-based cheese due increasing number of health conscious consumers around the globe and dietary restriction is expected to offer significant growth opportunities over the forecast period. Also, vegan cheeses using plant-based rennet is mostly certified by Kosher, Halal, Vegetarian and GMO free, depending on the other ingredients used.

Advent of improved production process of rennet is expected to create new market opportunities over the forecast period. The new technology is expected to fulfil the demand for non-animal rennet market. Additionally, with the rise in number food &beverage companies the adoption of rennet is expected to witness high demand, thus fostering market growth.

Market Trends/Key Takeaways:

Growing popularity of low-fat cheese due to increasing adoption of healthy lifestyle among consumers is expected to uplift the market growth over the forecast period.

Increasing innovation in improving the taste and quality is again contributing to market growth. For instance, in June 2020, DuPont Nutrition & Biosciences (DuPont N&B) has launched Chymostar, a new milk coagulating preparation for the dairy industry that is positioned to offer “optimal coagulation and ripening kinetics.” The ingredient is being introduced by Danisco, DuPont’s brand for a range of bioprotection and nutritional products.

Competitive Landscape:

Chr. Hansen Holding AS, AFFCO, International Flavors & Fragrances Inc., Intermak Inc., Punature Food Ingredient Co. Ltd, Walcovit Inc., Hebei Yoko Biotech Co. Ltd, Koninklijke DSM NV, MAYASAN Food Industries AS, Calza Clemente SRL, Iran Industrial Enzymes Company, and Sacco SRL

Rennet is a collection of enzymes produced by ruminant mammals in their stomachs. Its key component is chymosin, a protease enzyme that helps curdle casein in milk. Other enzymes are present in rennet as well. The term rennet refers to an enzymatic extract extracted from the stomachs of young ruminants. Young ruminants produce enzymes to help break down milk in order to maximize the nutrition in it. They use these enzymes to make food. In cheese-making, they activate coagulation. It is used in cheese-making. In addition to plant rennet, there are microbial rennets. These use molds as sources for enzymes similar to chymosin, but don't contain mold in the finished product. Other types of microbial rennet are made from animal stomach cells implanted in yeast cultures. They are genetically engineered to be useful in cheesemaking.

Market Dynamics:

Growing production of cheese is a prime factor driving growth of the rennet market. According to the United States Department of Agriculture, in the United States, more than 300 varieties of cheese are produced, largely from cow's milk. Total U.S. cheese production in 2020 was 13.25 billion pounds, up 2 percent from 2016. Moreover, increasing demand for plant-based cheese is another key factor fostering market growth. Growing focus of key players to improve taste and quality products is further projected to accelerate market growth.

Consumption of rennet is limited to high cheese producing regions such as Europe and North America. This limit the scope of rennet, thus hampering market growth.

Key features of the study:

  • This report provides in-depth analysis of the global rennet market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global rennet market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Chr. Hansen Holding AS, AFFCO, International Flavors & Fragrances Inc., Intermak Inc., Punature Food Ingredient Co. Ltd, Walcovit Inc., Hebei Yoko Biotech Co. Ltd, Koninklijke DSM NV, MAYASAN Food Industries AS, Calza Clemente SRL, Iran Industrial Enzymes Company, and Sacco SRL
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global rennet market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global rennet market

Detailed Segmentation:

  • 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 Geography:
    • Asia-Pacific
    • North America
    • Europe
    • Rest of the World

Frequently Asked Questions

The global rennet market size is estimated to be valued at US$ 683.1 Million in 2021 and is expected to exhibit a CAGR of 5.39% between 2022 and 2030.
Expanding cheese market and increasing health conscious consumers are fuelling the growth of the market.
The Liquid form segment is the leading component segment in the market.
Limited consumption of rennet to high cheese manufacturing region such as Europe and North America is the major factors restraining growth of the the market.
Major players operating in the market are Chr. Hansen Holding AS, AFFCO, International Flavors & Fragrances Inc., Intermak Inc., Punature Food Ingredient Co. Ltd, Walcovit Inc., Hebei Yoko Biotech Co. Ltd, Koninklijke DSM NV, MAYASAN Food Industries AS, Calza Clemente SRL, Iran Industrial Enzymes Company, and Sacco SRL

Related Reports

EXISTING CLIENTELE

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients
trusted clients logo