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PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1550761
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1550761
Rennet Market, By Source, By Application (Cheese Production, Milk Clotting, and Others ), By Geography
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PAGES: 157 Pages
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The rennet market is estimated to be valued at USD 746.5 Mn in 2024 and is expected to reach USD 1,078.8 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
| Report Coverage | Report Details | ||
|---|---|---|---|
| Base Year: | 2023 | Market Size in 2024: | US$ 746.5 Mn |
| Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
| Forecast Period 2024 to 2031 CAGR: | 5.40% | 2031 Value Projection: | US$ 1,078.8 Mn |
Figure. Rennet Market Share (%), By Region 2024
Rennet is an enzyme that aids in the coagulation of milk in cheese making. Traditionally, rennet was obtained from the stomach linings of calves and kids, which contain the enzyme rennin. Rennin helps calves digest milk by curdling it in the stomach. Dairy producers soon discovered they could use rennet in a similar way to produce cheese and other dairy products. However, with growing concerns over animal welfare and a diminishing supply of calf stomachs, alternatives to animal-derived rennet were sought. Today, microbial rennet produced through fermentation is the most common type used globally. It provides cheese makers with a consistent and affordable source of this essential enzyme.
Market Dynamics:
Renin market dynamics are influenced primarily by the rising global demand for cheese and other dairy products. Driven by population growth, rising incomes, and increasing cheese consumption in developing nations, this robust demand bodes well for rennet producers. However, constraints in the supply of calf rennet could hamper market expansion. Microbial rennet manufacturers are exploring new production techniques and cost efficiencies to tackle this challenge. They are also developing organic and kosher-certified variants to tap new opportunities. Advancements in biotechnology may lead to development of plant-based or synthetic alternatives to animal-derived rennet in the coming years.
Key Features of the Study:
- This report provides in-depth analysis of the global rennet market and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 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 approvals, 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, Sacco SRL, Punature Food Ingredient Co. Ltd., and Hebei Yoko Biotech Co. Ltd.
- 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-
- By Source:
- Animal-Derived Rennet
- Microbial Rennet
- Genetically Modified Rennet
- By Application
- Cheese Production
- Milk Clotting
- Others (Baking, Desserts, etc.)
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Company Profiles:
- 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
- Sacco SRL
- Punature Food Ingredient Co. Ltd.
- Hebei Yoko Biotech Co. Ltd.
Product Code: CMI5144
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Source
- Market Snippet, By Application
- Market Snippet, By Region
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- PEST Analysis
- PORTER's Five Forces Analysis
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- Mergers and Acquisitions
4. Global Rennet Market - Impact of Coronavirus (COVID-19) Pandemic
- Overview
- Factors Affecting the Global Rennet Market
- Impact Analysis
5. Global Rennet Market, By Source, 2019-2031, (US$ Mn)
- Introduction
- Market Share Analysis, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Animal-Derived Rennet
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Mn)
- Segment Trends
- Microbial Rennet
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Mn)
- Segment Trends
- Genetically Modified Rennet
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Mn)
- Segment Trends
6. Global Rennet Market, By Application, 2019-2031, (US$ Mn)
- Introduction
- Market Share Analysis, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Cheese Production
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Mn)
- Segment Trends
- Milk Clotting
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Mn)
- Segment Trends
- Others (Baking, Desserts, etc.)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Mn)
- Segment Trends
7. Global Rennet Market, By Region, 2019-2031, (US$ Mn)
- Introduction
- Market Share Analysis, By Region, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020-2031
- North America
- Introduction
- Market Size and Forecast, By Source, 2019 - 2031, (US$ Mn)
- Market Size and Forecast, By Application, 2019 - 2031, (US$ Mn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Mn)
- U.S.
- Canada
- Latin America
- Introduction
- Market Size and Forecast, By Source, 2019 - 2031, (US$ Mn))
- Market Size and Forecast, By Application, 2019 - 2031, (US$ Mn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Mn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Introduction
- Market Size and Forecast, By Source, 2019 - 2031, (US$ Mn)
- Market Size and Forecast, By Application, 2019 - 2031, (US$ Mn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Mn)
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, By Source, 2019 - 2031, (US$ Mn)
- Market Size and Forecast, By Application, 2019 - 2031, (US$ Mn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Mn)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Introduction
- Market Size and Forecast, By Source, 2019 - 2031, (US$ Mn)
- Market Size and Forecast, By Application, 2019 - 2031 (US$ Mn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Mn)
- GCC Countries
- Israel
- Rest of Middle East & Africa
8. Competitive Landscape
- Market Share Analysis
- Company Profiles
- Chr. Hansen Holding AS
- Company Overview
- Source Portfolio
- Recent Developments/Updates
- AFFCO
- Company Overview
- Source Portfolio
- Recent Developments/Updates
- International Flavors & Fragrances Inc.
- Company Overview
- Source Portfolio
- Recent Developments/Updates
- Intermak Inc.
- Company Overview
- Source Portfolio
- Recent Developments/Updates
- Punature Food Ingredient Co. Ltd
- Company Overview
- Source Portfolio
- Recent Developments/Updates
- Walcovit Inc.
- Company Overview
- Source Portfolio
- Recent Developments/Updates
- Hebei Yoko Biotech Co. Ltd
- Company Overview
- Source Portfolio
- Recent Developments/Updates
- Koninklijke DSM NV
- Company Overview
- Source Portfolio
- Recent Developments/Updates
- MAYASAN Food Industries AS
- Company Overview
- Source Portfolio
- Recent Developments/Updates
- Calza Clemente SRL
- Company Overview
- Source Portfolio
- Recent Developments/Updates
- Iran Industrial Enzymes Company
- Company Overview
- Source Portfolio
- Recent Developments/Updates
- Sacco SRL
- Company Overview
- Source Portfolio
- Recent Developments/Updates
- Punature Food Ingredient Co. Ltd.
- Company Overview
- Source Portfolio
- Recent Developments/Updates
- Hebei Yoko Biotech Co. Ltd.
- Company Overview
- Source Portfolio
- Recent Developments/Updates
- Chr. Hansen Holding AS
9. Analyst Recommendations
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
10. Section
- References
- Research Methodology
- About Us and Sales Contact
- Browse 25 market data tables* and 20 figures* on "Global Rennet Market" - Global forecast to 2031.
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