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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)
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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
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/$Billion)
12.1 North America
12.1.1 U.S.
12.1.2 Mexico
12.1.3 Canada
12.2 Europe
12.2.1 U.K.
12.2.2 France
12.2.3 Germany
12.2.4 Italy
12.2.5 Spain
12.2.6 Russia
12.2.7 Rest of Europe
12.3 Asia Pacific
12.3.1 China
12.3.2 India
12.3.3 Japan
12.3.4 South Korea
12.3.5 Australia & New Zealand
12.3.6 Rest of Asia Pacific
12.4 South America
12.4.1 Brazil
12.4.2 Argentina
12.4.3 Rest of South America
12.5 Rest of the World
12.5.1 Middle East
12.5.2 Africa
13. Rennet Market - Entropy
14. Rennet Market – Industry/Segment Competition Landscape Premium
14.1 Market Share Analysis
14.1.1 Global Market Share – Key Companies
14.1.2 Market Share by Region – Key companies
14.1.3 Market Share by Countries – Key Companies
14.1.4 Best Practices for Companies
15. Rennet Market – Key Company List by Country Premium Premium
16. Rennet Market Company Analysis
16.1 Company 1
16.2 Company 2
16.3 Company 3
16.4 Company 4
16.5 Company 5
16.6 Company 6
16.7 Company 7
16.8 Company 8
16.9 Company 9
16.10 Company 10
"*Financials for private companies would be provided on a best efforts basis”.
LIST OF TABLES
1.Market Segmentation Market 2023-2030 ($M)1.1 By Type Market 2023-2030 ($M) - Industry Research
1.1.1 Animal-Derived Rennet Market 2023-2030 ($M)
1.1.2 Microbial Rennet Market 2023-2030 ($M)
1.1.3 FPC-Fermentation Produced Chymosin Rennet Market 2023-2030 ($M)
1.1.4 Vegetable Rennet Market 2023-2030 ($M)
2.Market Segmentation Market 2023-2030 (Volume/Units)
2.1 By Type Market 2023-2030 (Volume/Units) - Industry Research
2.1.1 Animal-Derived Rennet Market 2023-2030 (Volume/Units)
2.1.2 Microbial Rennet Market 2023-2030 (Volume/Units)
2.1.3 FPC-Fermentation Produced Chymosin Rennet Market 2023-2030 (Volume/Units)
2.1.4 Vegetable Rennet Market 2023-2030 (Volume/Units)
3.North America Market Segmentation Market 2023-2030 ($M)
3.1 By Type Market 2023-2030 ($M) - Regional Industry Research
3.1.1 Animal-Derived Rennet Market 2023-2030 ($M)
3.1.2 Microbial Rennet Market 2023-2030 ($M)
3.1.3 FPC-Fermentation Produced Chymosin Rennet Market 2023-2030 ($M)
3.1.4 Vegetable Rennet Market 2023-2030 ($M)
4.South America Market Segmentation Market 2023-2030 ($M)
4.1 By Type Market 2023-2030 ($M) - Regional Industry Research
4.1.1 Animal-Derived Rennet Market 2023-2030 ($M)
4.1.2 Microbial Rennet Market 2023-2030 ($M)
4.1.3 FPC-Fermentation Produced Chymosin Rennet Market 2023-2030 ($M)
4.1.4 Vegetable Rennet Market 2023-2030 ($M)
5.Europe Market Segmentation Market 2023-2030 ($M)
5.1 By Type Market 2023-2030 ($M) - Regional Industry Research
5.1.1 Animal-Derived Rennet Market 2023-2030 ($M)
5.1.2 Microbial Rennet Market 2023-2030 ($M)
5.1.3 FPC-Fermentation Produced Chymosin Rennet Market 2023-2030 ($M)
5.1.4 Vegetable Rennet Market 2023-2030 ($M)
6.APAC Market Segmentation Market 2023-2030 ($M)
6.1 By Type Market 2023-2030 ($M) - Regional Industry Research
6.1.1 Animal-Derived Rennet Market 2023-2030 ($M)
6.1.2 Microbial Rennet Market 2023-2030 ($M)
6.1.3 FPC-Fermentation Produced Chymosin Rennet Market 2023-2030 ($M)
6.1.4 Vegetable Rennet Market 2023-2030 ($M)
7.MENA Market Segmentation Market 2023-2030 ($M)
7.1 By Type Market 2023-2030 ($M) - Regional Industry Research
7.1.1 Animal-Derived Rennet Market 2023-2030 ($M)
7.1.2 Microbial Rennet Market 2023-2030 ($M)
7.1.3 FPC-Fermentation Produced Chymosin Rennet Market 2023-2030 ($M)
7.1.4 Vegetable Rennet Market 2023-2030 ($M)
LIST OF FIGURES
1.US Rennet Market Revenue, 2023-2030 ($M)2.Canada Rennet Market Revenue, 2023-2030 ($M)
3.Mexico Rennet Market Revenue, 2023-2030 ($M)
4.Brazil Rennet Market Revenue, 2023-2030 ($M)
5.Argentina Rennet Market Revenue, 2023-2030 ($M)
6.Peru Rennet Market Revenue, 2023-2030 ($M)
7.Colombia Rennet Market Revenue, 2023-2030 ($M)
8.Chile Rennet Market Revenue, 2023-2030 ($M)
9.Rest of South America Rennet Market Revenue, 2023-2030 ($M)
10.UK Rennet Market Revenue, 2023-2030 ($M)
11.Germany Rennet Market Revenue, 2023-2030 ($M)
12.France Rennet Market Revenue, 2023-2030 ($M)
13.Italy Rennet Market Revenue, 2023-2030 ($M)
14.Spain Rennet Market Revenue, 2023-2030 ($M)
15.Rest of Europe Rennet Market Revenue, 2023-2030 ($M)
16.China Rennet Market Revenue, 2023-2030 ($M)
17.India Rennet Market Revenue, 2023-2030 ($M)
18.Japan Rennet Market Revenue, 2023-2030 ($M)
19.South Korea Rennet Market Revenue, 2023-2030 ($M)
20.South Africa Rennet Market Revenue, 2023-2030 ($M)
21.North America Rennet By Application
22.South America Rennet By Application
23.Europe Rennet By Application
24.APAC Rennet By Application
25.MENA Rennet By Application
26.Osterreichische Laberzeugung Hundsbichler GmbH, Sales /Revenue, 2015-2018 ($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)