Global Rennet Market - Growth, Trends & Forecasts (2017 - 2022)
The global rennet market size is estimated to be USD XX.X million in 2017, which is expected to register a CAGR of X.X%, during 2017-2022 (the forecast period). Rennet, also called coagulants, contains enzymes such as chymosin, pepsin, and lipase. The functions of this complex enzyme include the filtration of milk into solid curds for cheese making and liquid whey. The demand for rennet is expected to increase, owing to its use as a main ingredient for cheese making. The United States is one among the largest producers of cheese and about 70% of it is produced with rennet. The growing preference among consumers for cheese, as an integral part of their diets, is expected to boost the market for rennet.
Growing Cheese Market is Expected to Boost the Market for Rennet
Rennet is used for about 70% of the US cheese and 33% for the cheese production worldwide. Earlier, the use of animal rennet was normal, however as it is an expensive enzyme, various attempts have been made to find cheaper alternatives from microbial sources, over the years. These attempts were successful and Fermentation Produced Chymosin (FPC) were produced. FPC is considered to have high cheese yield per quantity of milk and produces a better-tasting cheese, with a prolonged shelf-life. These functional attributes boosted the use of FPC in most of cheese producing companies in the United States; about 80% of the total cheese production in the country is made with FPC. It is expected that other parts of the world will follow this trend in the near future.
North America is expected to account for the largest market share of 45%, in 2017, followed by Europe. The United States has a market share of 60% in the region. Mexico and Canada are expected to accelerate at a faster pace than the US, during 2017-2022 (the forecast period).
Analysis by Type
Based on rennet type, the global rennet market is segmented into animal-derived rennet, microbial rennet, (FPC) fermentation produced chymosin rennet and vegetable rennet. Among, all the rennet type, Fermentation Produced Chymosin Rennet is expected to witness a considerable growth in the future, due to its high functionality and availability. Fermentation Produced Chymosin Rennet adds better-taste to the cheese and a prolonged shelf-life.
The Leading Manufacturers and Suppliers of Rennet include:
Osterreichische Laberzeugung Hundsbichler GmbH
Renco New Zealand
Mittal Dairy Product
Clarion Casein Ltd.
Mahaan Proteins Limited
Sanmenxia Enzymes Products Factory
Enzyme Supplies Limited
These companies focus on the capacity expansion, owing to the increasing demand for cheese products.
Our Global Rennet Market Report Covers:
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Porter’s five force analysis