Global Rennet Market

Report ID : 1477 | Published : 2022-11-30 | Pages: | Format: PDF/EXCEL

The market size of the Global Rennet Market in the year 2021 is valued at 668.72 million and is predicted to reach 1112.53 million by the year 2030 at an 6.03% CAGR during the forecast period.

Rennet is a proteolytic enzyme usually taken from the stomach lining of calves. The primary substance that makes up rennet is chymosin. Rennet is employed in the cheesemaking process to facilitate milk coagulation and remove whey from the initial curdling stage. Making rennet involves heating raw milk to 32–37 °C for 40–60 minutes while adding rennet derived from the calf's stomach lining. Rennet market expansion is anticipated to be aided by the cheese market's expansion due to rising cheese consumption. Globally expanding vegetarian populations are fueling demand for plant-based food items, which is also accounted to boost the market growth. Growing consumer demand for plant-based cheese due to dietary restrictions and an increase in health-conscious consumers worldwide is anticipated to present significant growth opportunities over the forecast period. Pepsin makes cheese instead of rennet since it is substantially less expensive. Once more, it is predicted that this issue will slow market expansion. The market is anticipated that introducing an enhanced rennet production technique will open up new market prospects. The new technology should satisfy the market's demand for non-animal rennet.

Additionally, the adoption of rennet is anticipated to have strong demand due to the increase in food and beverage firms, supporting market expansion. The availability of many solutions, such as natural and synthetic rennet, depending on the needs and financial situation of the manufacturer, is now promoting the overall expansion of the rennet market. The main restraint to the growth of the rennet market is religious convictions and rising danger threats brought on by incorrect handling of materials and goods.

Market Segmentation:

The rennet market is segmented on type and form. Based on type, the market is segmented into animal-derived rennet, microbial rennet, vegetable rennet, and fermentation-produced chymosin rennet. Based on form, the rennet market is segmented into liquid, powder and paste.

Based on product, the drugs segment is a major contributor to the rennet market.

The market's leading segment was drugs. Some of the main drivers of the expansion include an expanding patient population for monkeypox disease, an increase in the use of antiviral drugs, and high treatment costs for the symptomatic management of the illness. However, the vaccine segment is anticipated to grow significantly. Increased use of vaccines against monkeypox infection, greater public awareness of vaccination, and intensive R&D efforts to create novel medicines are all predicted to boost category expansion. Additionally, several government measures to increase vaccine accessibility are projected to support category growth.

The liquid form segment witnessed growth at a rapid rate

Liquid form grabbed the highest revenue share, and it is anticipated that it will continue to hold that position during the anticipated time. In factories, the liquid form is widely used to make huge amounts of cheese. They also contain extra preservatives, which prolong the cheese's freshness.

The Europe rennet market holds a significant revenue share in the region.

The Europe Rennet market is expected to register the highest market share in revenue shortly. This results from several variables, including an increase in the number of vegans and advanced technology used in cheese manufacturing. It is anticipated that the expanding cheesemaking industry, which employs cutting-edge technologies and creative manufacturing techniques, will be the primary driver of the demand for rennet in European countries like Germany, France, Italy, and Russia. Besides, the Asia-Pacific is anticipated to have rapid expansion. Interest in non-cheese dishes and rising consumption of cheeses like cheddar and mozzarella in the West Rennet is increasingly being used to produce several varieties of cheese in Asian nations like Japan, China, and India.

Competitive Landscape

Some major key players in the Rennet 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.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Rennet Market Snapshot

Chapter 4. Global Rennet Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Investment and Funding Analysis

4.6. Industry Analysis – Porter’s Five Forces Analysis

4.7. Competitive Landscape & Market Share Analysis

4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Product Type Estimates & Trend Analysis

5.1. by Product Type & Market Share, 2019 & 2030

5.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Product Type:

5.2.1. Animal-Derived Rennet

5.2.2. Microbial Rennet

5.2.3. FPC-Fermentation Produced Chymosin Rennet

5.2.4. Vegetable Rennet

Chapter 6. Market Segmentation 2: by Form Estimates & Trend Analysis

6.1. by Form & Market Share, 2019 & 2030

6.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Form:

6.2.1. Liquid

6.2.2. Powder

6.2.3. Paste

Chapter 7. Rennet Market Segmentation 3: Regional Estimates & Trend Analysis

7.1. North America

7.1.1. North America Rennet Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2019-2030

7.1.2. North America Rennet Market Revenue (US$ Million) Estimates and Forecasts by Form, 2019-2030

7.1.3. North America Rennet Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2030

7.2. Europe

7.2.1. Europe Rennet Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2019-2030

7.2.2. Europe Rennet Market Revenue (US$ Million) Estimates and Forecasts by Form, 2019-2030

7.2.3. Europe Rennet Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2030

7.3. Asia Pacific

7.3.1. Asia Pacific Rennet Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2019-2030

7.3.2. Asia Pacific Rennet Market Revenue (US$ Million) Estimates and Forecasts by Form, 2019-2030

7.3.3. Asia Pacific Rennet Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2030

7.4. Latin America

7.4.1. Latin America Rennet Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2019-2030

7.4.2. Latin America Rennet Market Revenue (US$ Million) Estimates and Forecasts by Form, 2019-2030

7.4.3. Latin America Rennet Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2030

7.5. Middle East & Africa

7.5.1. Middle East & Africa Rennet Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2019-2030

7.5.2. Middle East & Africa Rennet Market Revenue (US$ Million) Estimates and Forecasts by Form, 2019-2030

7.5.3. Middle East & Africa Rennet Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2030

Chapter 8. Competitive Landscape

8.1. Major Mergers and Acquisitions/Strategic Alliances

8.2. Company Profiles

8.2.1. Chr. Hansen Holding AS

8.2.2. AFFCO

8.2.3. International Flavors & Fragrances Inc.

8.2.4. Intermak Inc.

8.2.5. Punature Food Ingredient Co. Ltd

8.2.6. Walcovit Inc.

8.2.7. Hebei Yoko Biotech Co. Ltd

8.2.8. Koninklijke DSM NV

8.2.9. MAYASAN Food Industries AS

8.2.10. Calza Clemente SRL

8.2.11. Iran Industrial Enzymes Company

8.2.12. Sacco SRL

8.2.13. Other Prominent Players

By Type:

  • Animal-Derived Rennet
  • Microbial Rennet
  • FPC-Fermentation Produced Chymosin Rennet
  • Vegetable Rennet

By Form

  • Liquid
  • Powder
  • Paste

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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