Rennet Market, By Source (Animal-Derived Rennet, Microbial Rennet, and Genetically Modified Rennet), By Application (Cheese Production, Milk Clotting, and Others (Baking, Desserts, etc.)), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Feb 2025

Code : CMI5144

Pages :157

Formats :

Excel and PDF

Industry : Food and Beverages

Rennet Market Size and Trends

The rennet market is estimated to be valued at USD 788.4 Mn in 2025 and is expected to reach USD 1,155.2 Mn by 2032, exhibiting a compound annual growth rate (CAGR) of 5.6% from 2025 to 2032.

Rennet Market Key Factors

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The growing demand for cheese and other dairy products is driving the need for rennet across major economies. Additionally, the rising fast food and quick service restaurant industries has increased the demand for processed cheese, which, in turn, is supporting the rennet market growth. Furthermore, advancing technologies used in rennet production are helping lower production costs. New product launches catering to vegan and kosher consumers through the use of non-animal derived rennet alternatives are also boosting market revenues. However, stringent regulatory environment over the use of animal-derived rennet may hamper the market growth to some extent over the coming years.

Drivers of the Market:

Growing dairy industry

The global dairy industry has seen significant growth over the past few decades. Increased milk consumption as a result of rising incomes and urbanization in developing countries has boosted dairy production. Countries like India, China, and many Southeast Asian nations have emerged as major dairy consumers. As per estimates, India is the largest milk producer in the world while China is the biggest importer of dairy products. Rising affordability has led to dairy becoming a vital part of the diet for hundreds of millions of people globally.

This rapid growth in the dairy sector has led to increased demand for rennet. Rennet is a crucial ingredient required for converting milk into solid curd which forms the basis of cheese production. Specialized dairy enzymes present in rennet help in coagulation of milk during cheese making. As international cheese consumption rises in tandem with rising living standards, cheese manufacturers are under pressure to ramp up production capacity. This has resulted in higher demand for rennet from cheese makers worldwide. Leading rennet producers are investing in expanding capacities to capitalize on opportunities presented by a booming global cheese market. Emerging economies with huge dairy potential will be key drivers of rennet demand going forward as their cheese industries establish themselves globally.