Market Overview

The Global Rennet Market was valued at USD 781.9 million in 2023 and is expected to reach USD 1,190.0 million by 2031 while growing at a CAGR of 5.4% during the forecast period (2024-2031).

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Market Dynamics

This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global rennet market growth. Rennet, a complex enzyme mixture, coagulates milk to form curds in cheese-making. Traditionally sourced from the stomach lining of young mammals, such as calves, it can also come from other animals like goats or lambs.

Increasing demand for cheese and dairy products, along with the expanding food and beverage industry, propels the growth of the rennet market. However, obstacles like cultural and dietary preferences, and a shift toward plant-based diets may impede market expansion.

Furthermore, the global rennet industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.

Segmentation – By Type Analysis

The Global Rennet Market is segmented among Animal-Derived Rennet, Microbial Rennet, FPC-Fermentation Produced Chymosin Rennet, and Vegetable Rennet, based on Type. In 2023, FPC-Fermentation Produced Chymosin Rennet accounted for the majority of the market share*.

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Segmentation – By Form Analysis

The Global Rennet Market is segmented among Liquid, Powder, and Paste, based on Form. In 2023, Liquid accounted for the majority of the market share*.

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Global Rennet Market: Regional Analysis

Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Europe dominated the market with the highest market share, while Asia Pacific is expected to grow with the highest CAGR during the forecast period (2024 – 2031).

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Competitive Landscape

Some of the key players operating in the market are Chr. Hansen Holding A/S, International Flavors & Fragrances Inc., AFFCO, Intermak Inc., Punature Food Ingredient Co. Ltd., Sacco SRL, Koninklijke DSM NV6.3.8 Walcovit Inc., Hebei Yoko Biotech Co. Ltd., and Mayasan Food Industries AS.

Table of Contents:

1. Research Methodology and Market Scope

• Research Methodology

• Market Scope

2. Executive Summary

3. Global Rennet Market Dynamics

• Drivers

• Restraints

• Opportunity

4. Global Rennet Industry Analysis

• PEST Analysis

• Porter's Five Force Analysis

• Recent Deals Analysis

5. Global Rennet Market Segmentation, By Type

• Global Rennet Market Share Analysis, By Type

• Global Rennet Market Growth Analysis, By Type

• Global Rennet Market Trends, By Type

o Animal-Derived Rennet

o Microbial Rennet

o FPC-Fermentation Produced Chymosin Rennet

o Vegetable Rennet

6. Global Rennet Market Segmentation, By Form

• Global Rennet Market Share Analysis, By Form

• Global Rennet Market Growth Analysis, By Form

• Global Rennet Market Trends, By Form

o Liquid

o Powder

o Paste

7. Global Rennet Market Segmentation, By Region

• Global Rennet Market Share Analysis, By Region

• Global Rennet Market Growth Analysis, By Region

• Global Rennet Market Trends, By Region

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East

o Africa

8. Competitive Landscape

• Chr. Hansen Holding A/S*

o Company Overview

o Financial Performance

o Key Development/Strategies

o SWOT Analysis

• International Flavors & Fragrances Inc.

• AFFCO

• Intermak Inc.

• Punature Food Ingredient Co. Ltd.

• Sacco SRL

• Koninklijke DSM NV 

• Walcovit Inc.

• Hebei Yoko Biotech Co. Ltd.

• Mayasan Food Industries AS         

 *Similar analysis will be provided for each company listed above.