In 2022, the global rennet market was estimated to be worth USD 55 million. It is projected to increase at a CAGR of 5.19% over the forecast period (2023–2031), reaching USD 1.13 billion by 2031
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"The Global Rennet Market 2021-2031 (USD Billion)")
One of the key factor driving the rennet market is rising demand for whey protein ingredients. Moreover, increasing application of whey protein ingredients in sports nutrition products, food & beverages as well as dietary supplements, will fuel the demand for rennet to make liquid whey in upcoming years. On the other hand, growing vegetarian population across the world is expected to restrain growth of the animal rennet market.
The global rennet market has been segmented by different sources, forms and geography. Further, source segment of the market is sub-divided into vegetable, microbial and fermentation-produced chymosin (FPC). Fermentation Produced Chymosin division of the source segment is anticipated to record a substantial growth upcoming years, owing to its high performance and accessibility. Moreover, Fermentation Produced Chymosin rennet enhances the taste of cheese and enables extended shelf-life. Likewise, forms segment of the global rennet market is bifurcated into liquid, powder (granules) and tablet.
Geographical segmentation of the rennet market bifurcates it into several key regions covering Latin America, North America, Europe, Asia Pacific and Middle East & Africa. North America region dominated the overall market with highest rennet market share of around xx in historical year (2017) and is trailed by Europe. In addition, Europe as well as North America are the substantial markets when it comes to the production and consumption of cheese. Moreover, swift of population preference to vegetarian cheese is providing new opportunities for the vegetable as well as microbial rennet.
The Key players of rennet operating across the competitive landscape of the market include Vahgan EV. Tigra co Ltd, WalcoRen, Bioactive Yeast Co., Ltd. (Tailong Food), Iran Industrial Enzyme co, Yangzhou Chemical Co. Ltd, Chr. Hansen Holding A/S, DuPont Nutrition & Health, Scientific & Technological Bioresource Nucleus, Finest Kind, Sudershan Biotech Ltd, MAYASAN Food Industries A.S and RENCO New Zealand. Furthermore, prominent players of the market are looking forward for expanding their business in potential regions as well as focusing over research & development activities in order to meed the market demand.
Rennet Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2031 |
| Study Period | 2018-2031 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2031 | USD 1.13 billion |
| Growth Rate | CAGR of 5.19 % during 2023-2031 |
| Segment Covered | Source, Form, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Vahgan EV. Tigra co Ltd, WalcoRen, Bioactive Yeast Co., Ltd. (Tailong Food), Iran Industrial Enzyme co, Yangzhou Chemical Co. Ltd, Chr. Hansen Holding A/S, DuPont Nutrition & Health. |
Key segments of the global rennet market include:
- Source segment of global rennet market
- Vegetable
- Fermentation-Produced Chymosin (FPC)
- Microbial
- Form segment of global rennet market
- Liquid
- Powder (Granules)
- Tablet
- Geographical segment of global rennet market
- North America (the U.S. & Canada)
- Latin America (Brazil, Mexico, Chile, Peru and others)
- Europe (Germany, France, U.K., Spain, Nordic countries, Italy, Belgium, Netherlands & Luxembourg)
- Asia Pacific (India, China, Japan and ASEAN)
- Middle East & Africa (GCC, Southern Africa & North Africa)
Frequently Asked Questions (FAQ) :
The major players are Vahgan EV. Tigra co Ltd, WalcoRen, Bioactive Yeast Co., Ltd. (Tailong Food), Iran Industrial Enzyme co, Yangzhou Chemical Co. Ltd, Chr. Hansen Holding A/S, DuPont Nutrition & Health.
To get latest version of rennet market report can be obtained on demand from the website.
The base year for the report is 2023 in rennet market.