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 : Aug 2024

Code : CMI5144

Pages :157

Formats :

Excel and PDF

Industry : Food and Beverages

Regional Analysis

Rennet Market Regional Insights

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The North America region currently dominates the global rennet market. The region is expected to account for 38.7% of the market share in 2024. The U.S. is the leading producer and consumer of rennet globally. This can be attributed to the strong dairy industry presence in the region for decades. Rennet finds widespread application in cheese production which accounts for over 60% of its demand. With the U.S. being one of the top cheese consuming countries globally, it ensures a steady demand for rennet from the food processing sector. Moreover, several major rennet manufacturing companies, such as Chr. Hansen and DSM Nutritional Products, have established production facilities as well as R&D centers in the U.S., ensuring easy availability. This coupled with the lack of stringent import regulations has made North America the most preferable destination for international rennet suppliers.

The Asia Pacific region has emerged as the fastest growing regional market for rennet. Rapid urbanization, rising disposable incomes, and evolution of food consumption patterns are driving the growth of the dairy industry across developing nations like India and China. This has significantly boosted the rennet demand from these countries to meet their cheese manufacturing needs. Furthermore, growing health consciousness has increased the demand for enzyme modified and microbial rennet from the nutraceuticals and pharmaceutical sectors. India especially has witnessed a proliferation of small- and mid-sized domestic rennet players to cater to the food processing industry. While import dependence is still dominant, the ‘Make in India’ initiative will encourage local production and help Asia Pacific consolidate its position as a high potential market. Rennet manufacturers are also exploring opportunities to export productions to European and American cheese makers, taking advantage of low labor and manufacturing costs in the region. If these trends continue, Asia Pacific looks set to surpass other regions in terms of rennet consumption rate in the future.