Exploring the Growing Demand for Microbial Rennet in the Global Market: Mapping the Path to a USD 1,145.97 Million by 2030 with 6.31% of CAGR

Houston, TX, June 06, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Microbial Rennet Market By Application (Yogurt, Cheese, Dessert, And Others), By Form (Powders, Liquid, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Microbial Rennet Market size & share in terms of revenue was valued at USD 702.31 million in 2022 and it is expected to surpass around USD 1,145.97 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 6.31% during the forecast period 2023 to 2030.”

What is Microbial Rennet? How big is the Microbial Rennet Industry?

Report Overview:

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.

Microbial rennets are enzymes produced by certain microorganisms such as bacteria or fungi. They are used in the cheese-making process. Their main function is to coagulate milk and separate the curds from the whey. Conventionally, animal-based rennet is used in cheese making. This type of rennet is obtained from the stomachs of young mammals such as calves.

However, microbial rennet is known to be more ethical in terms of production. It also offers better economic viability which has led to higher demand in the industry over the years. Microbial rennet is known to be produced in more sustainable and cost-effective ways when compared to animal rennet making it a suitable choice for people who prefer vegetarian diets or who tend to avoid animal-based food products.

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Global Microbial Rennet Market: Growth Factors

A key contributor to the growth of the global microbial rennet industry is the increasing number of people opting for plant-based or vegetarian diet programs due to several social, economic, and health benefits. This has led to more triggered demand for microbial rennets as compared to animal rennet as the former is known to promote ethical and sustainable production of rennets as opposed to animal rennet. In addition to this, the increasing awareness surrounding animal welfare has acted as an additional growth propeller.

Government agencies along with several domestic and international animal care agencies have initiated multiple programs to educate the masses about the ethical issues that animal-derived products are associated with. This has led to a large number of people proactively advertising for switching to plant-based diets and food items.

Microbial rennet is known to facilitate the production of cruelty-free alternatives and this is an excellent selling point for the microbial rennet industry players. Increasing demand for organic and natural products is often associated with industry growth as consumers are showing a preference for organic cheese.

The global sales volume may witness certain growth restrictions owing to the increasing competition from alternative coagulants. Additionally, the rising price volatility of the raw materials and in turn the final good is a major reason for concern amongst microbial rennet market players.

Other factors such as production capacity and demand are also important to industry expansion. Moreover, technological limitations that affect the cost-effectiveness of microbial rennet further diminish the industry expansion rate.

The increasing demand for vegetarian cheese may provide growth opportunities whereas the growing competition from animal-based rennet could challenge market growth.

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Report Scope

Microbial Rennet Market: Segmentation Analysis

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 microbial rennet market divisions are powder, liquid, and others. In 2022, the 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.

The global Microbial Rennet market is segmented as follows:

By Application

• Yogurt
• Cheese
• Dessert
• Others

By Form

• Powders
• Liquid
• Others

Browse the full “Microbial Rennet Market By Application (Yogurt, Cheese, Dessert, And Others), By Form (Powders, Liquid, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030"- Report at https://www.zionmarketresearch.com/report/microbial-rennet-market

Competitive Landscape

Some of the main competitors dominating the global Microbial Rennet market include - 

• 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.

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Microbial Rennet market is likely to expand at a CAGR of around 6.31% during the forecast period (2023-2030).                                
• In terms of revenue, the Microbial Rennet market size was valued at around US$ 702.31 million in 2022 and is projected to reach US$ 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.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Microbial Rennet industry?
• What are the main driving factors propelling the Microbial Rennet Market forward?
• What are the leading companies in the Microbial Rennet Industry?
• What segments does the Microbial Rennet Market cover?
• How can I receive a free copy of the Microbial Rennet Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Application, By Form, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The global microbial rennet market is projected to witness the highest growth in North America with the US leading with the highest regional CAGR. The regional market is driven due to the growing consumption of vegan cheese or organic food items due to the rising consumer awareness rate about the benefits of adopting a diet made of organic items. Moreover, the presence of key investors in new microbial rennet production technology has worked in the favor of North America.

In Europe, the growth is most likely to be driven by the growing cheese production in Italy, Spain, the UK, France, and other European nations. These countries are home to some of the world’s popular cuisine items and boast of the production of high-quality cheese and other items.

Asia-Pacific is expected to emerge as a significant market during the forecast period due to the increasing investment in discovering and researching other microorganism strains that can assist in increasing the production quality and quantity of microbial rennet could work in the favor of the market.

By Region

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

Recent Developments

• In March 2023, PlantWise, an Indian company operating in the industry, announced the launch of a plant-based cheese range in the Indian market. The new items are reported to be better in performance in terms of taste and texture
• In March 2023, Bega, an Australian company, announced the launch of a range of plant-based cheese for the first time in its 124-year-long history

To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/microbial-rennet-market

FREQUENTLY ASKED QUESTIONS

• What is microbial rennet?
• Which key factors will influence microbial rennet market growth over 2023-2030?
• What will be the value of the microbial rennet market during 2023-2030?
• What will be the CAGR value of the microbial rennet market during 2023-2030?
• Which region will contribute notably towards the microbial rennet market value?
• Which are the major players leveraging the microbial rennet market growth?

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