Microbial Rennet Market Trend, Share, Growth, Size, Analysis and Forecast 2032

Microbial Rennet ?Market: Industry Prospective

The global microbial rennet market size was worth around USD 702.31  million in 2022 and is predicted to grow to around USD  1,145.97 million by 2030 with a compound annual growth rate (CAGR) of roughly 6.31% between 2023 and 2030. The report analyzes the global microbial rennet market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the microbial rennet industry.

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Microbial Rennet Market: Overview

Microbial rennet enzyme is used in the cheese-making process. It is used to coagulate milk proteins resulting in the formation of whey and curds. The main difference between traditional animal rennet and microbial rennet is that the latter is extracted from the stomach lining of young ruminant animals such as calves.

Microbial rennet production uses fungi and bacteria that have been genetically modified. It is an excellent alternative to animal rennet making it popular among consumers who have vegetarian or vegan diets. It is also a more consistent and reliable source of rennet, as the production process can be carefully controlled to ensure consistent enzyme activity.

However, some cheese makers prefer animal rennet for traditional and flavor reasons. The microbial rennet industry deals with the production and distribution of microbial rennet to the end-consumers.

Key Insights:

• As per the analysis shared by our research analyst, the global microbial rennet market is estimated to grow annually at a CAGR of around 6.31% over the forecast period (2023-2030)
• In terms of revenue, the global microbial rennet market size was valued at around USD 702.31  million in 2022 and is projected to reach USD  1,145.97 million, by 2030.
• The microbial rennet market is projected to grow at a significant rate due to the increasing cheese consumption across the globe
• Based on application segmentation, cheese was predicted to show maximum market share in the year 2022
• Based on form segmentation, the liquid was the leading form in 2022
• On the basis of region, North America was the leading revenue generator in 2022

Microbial Rennet Market: Growth Drivers

Increasing cheese consumption to propel market demand

The global microbial rennet market is expected to grow owing to the increasing consumption and demand for cheese across the globe. One of the primary reasons for the rise in cheese consumption is the growing population which in November 2022 reached over 8 billion. In addition to this, food habits amongst end consumers have undergone tremendous change over the years.

With increasing accessibility to supermarkets, hypermarkets, and online sales channels, the awareness rate of consumers has increased multifold. Furthermore, people are more keen on trying different regional cuisines which adds to the changed consumption patterns and eating habits. As per Statista, In the fiscal year 2022, the Australian population consumed about 15.1 kilograms of cheese per capita.

Microbial Rennet Market: Restraints

Limited awareness rate to restrict the market growth

The microbial rennet industry may witness restricted growth due to the limited awareness rate about the existence of microbial rennet and the advantages of consuming cheese and other products derived from microbial rennet.

Although the rise in demand for vegetarian rennet cannot be denied, as compared to animal rennet, the growth is low which leads to lesser revenue. Most of the end-consumers of companies operating in the food & beverages sector use animal rennet due to its easy availability and relatively higher popularity.

Microbial Rennet Market: Opportunities

Increasing demand for vegetarian cheese to provide growth opportunities

The global microbial rennet market is expected to gain more growth opportunities due to the growing demand for vegetarian or halal-certified cheese. The latter are edible items that are produced in accordance with Islamic dietary laws, which prohibit the consumption of certain food products.

As more people are now opting for vegan diet forms or vegetarian food products, the demand for microbial rennet is projected to generate more revenue streams, especially in countries where people are deserting animal-based edible products.

Microbial Rennet Market: Challenges

Competition from animal-based rennet to challenge market growth

One of the key challenges faced by the microbial rennet industry players is the constant challenge from companies selling animal-based rennet and derived products. This form of rennet has been in the market for a long time and hence has a dedicated consumer database.

Moreover, companies selling animal-based rennet enjoy the benefits of an established supply chain which microbial rennet producers and sellers have not achieved as of current times. This could pose a major threat to the industries operating the industry.

Microbial Rennet Market: Segmentation

The global microbial rennet market is segmented based on application, form, and region.

Based on application, the global market segments are yogurt, cheese, dessert, and others. In 2022, the industry witnessed the highest growth in the cheese segment due to the higher use of microbial rennet in the production process.

Although plant-based rennet can be used to produce other items such as yogurt and dessert, its main application has long been in cheese production due to its ability to produce high-grade cheese with texture and flavor comparable to animal rennet-based cheese.

Moreover, the microbial form can be used to produce a variety of cheese items such as soft cheeses, hard cheeses, and specialty cheeses making it more versatile as compared to other forms of rennet. A specific strain of fungi or bacteria is used to produce cheese when using microbial rennet. The predictable coagulation and consistency is the major reason for the high demand for microbial rennet. As per Statista, global cheese production in 2022 was close to 22.17 million metric tons.

Based on form, the global market divisions are powder, liquid, and others. In 2022, the microbial rennet industry witnessed more demand for liquid microbial rennet however it should be noted that the preference for rennet form is entirely dependent on the end-users and their specific requirements.

For instance, the liquid form of microbial rennet is easier to mix with milk and it can be directly added without the requirement of additional mixture. Moreover, they are preferred in certain types of cheese-making processes especially where faster coagulation with even consistency is required.

The powdered form of plant-based rennet is easy to store and is less prone to damage due to external conditions. When liquid type is kept in air-tight concealers and at a temperature of 37°F-42°F, they can last up to a year.

Recent Developments:

• In June 2021, New Culture, a startup operating in the animal-free dairy industry that works on engineering microbes to produce dairy milk proteins without using cows, announced its intention to launch a new range of animal-free Mozzarella. The company intends to reach its goal by the end of late 2023. New Culture has already managed to make breakthrough developments by producing animal-free casein protein
• In March 2023, Daiya, a pioneer in launching plant-based cheese products in North America, announced an investment worth multi-million dollars in a new fermentation technology that will aim the company’s vision to promote the production of meltier, tastier, and stretchier plant-based cheese. The investment is expected to aid the company in reinforcing its dominance in the marketplace

Microbial Rennet Market: Report Scope

Microbial Rennet Market: Regional Analysis

North America to propel market growth

The global microbial rennet market is projected to witness the highest growth in North America mainly driven by the rising cheese consumption in the regions of Canada, Mexico, and the US, which is also the largest contributor to the regional market. In addition to this, there are several US companies that have invested in catering to the needs of the growing vegetarian population in the country, including plant-based cheese and other regular edible items.

Moreover, the existence of pioneering firms that have revolutionized the technologies and research surrounding the production of plant-based cheese including the use of microbial rennet has played an important role in the high CAGR observed in North America. Europe is another significant contributor to the global market mainly driven due to the growing food & beverages sector of Spain, France, Germany, and the UK.

Microbial Rennet Market: Competitive Analysis

The global microbial rennet market is led by players like:

• Chr. Hansen Holding A/S
• DuPont de Nemours Inc.
• Bioprox
• Danisco
• Ingredion Incorporated
• Kerry Group
• Novozymes A/S
• Sacco System
• The Milky Whey
• Wacker Chemie AG
• Arla Foods Ingredients Group P/S
• Royal DSM N.V.
• Enzybel International SA
• Chy-Max®
• Fonterra Co-operative Group Limited
• Nature Bioscience Pvt Ltd
• Naturex S.A.
• Renco New Zealand Ltd.
• Marzyme
• Microbial Rennet Industries
• Enzyme Solutions Pty Ltd.
• Calzyme Laboratories Inc.
• ACH Food Companies Inc.
• Ultra Bio-Logics Inc.

The global microbial rennet market is segmented as follows:

By Application

• Yogurt
• Cheese
• Dessert
• Others

By Form

• Powders
• Liquid
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of The Middle East & Africa