Rennet Market: Introduction:
Rennet is a proteolytic enzyme, traditionally isolated from the gut lining of the calf. The main constituent of the rennet is chymosin. Rennet is use to produce milk coagulation and to separate out the whey from the initial curding process during cheese production. The cheese market is directly related to the availability of the rennet and hence are symbiotic to each other in terms of revenue generation. The peak cheese markets are northern America and Europe and hence rennet market is anticipated to grow more in this region. A significant shift in rennet market has been recorded in last decade, where manufacturers have opted for non-animal rennet due to its easy and inexpensive production.
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Rennet Market: Segments:
The rennet market can be segmented on the basis of the nature of the product, source from which it has been produced and the form it is found in. The New ventures in the field of economical food production processes have brought up three new type of rennet market based on the source, which are vegetable rennet market, microbial rennet market, and genetically modified rennet market. The old and traditional one is the animal rennet market. The animal rennet market can be further segmented into the type of animal used to obtain the rennet which is calf or lamb. The vegetable rennet market is based on the plant enzyme extract which mimics the rennet functionality. The microbial rennet market uses rDNA to produce animal rennet through a plant or microbial source. It is new in comparative to the above two.
The rennet market can be segmented based on the form of the end product. These forms are powder, tablet, paste, liquid, granules and dried calf’s gut. The tablet, granule and powder are used for slow processes. And the liquid is use when a specific amount is required to process. The dried gut is use in traditional processes.
Based on the type of the rennet the rennet market is divided into natural and synthetic rennets. The natural once is isolated from animals and plants and the synthetic ones are isolated from the genetically modified plant or microbial sources.
Rennet Market: Region-wise Outlook:
Europe and Northern America are the significant markets in terms of cheese production and consumption. The shift of population preference over vegetarian cheese has opened up new markets for the vegetable and microbial rennet. Countries which are having a significant amount of vegan population have increased their cheese consumption due to increase in the use of non-animal rennet. This can be a right opportunity to invest in such market where cheese production is increasing rapidly which will cause an increase in the demand of the rennet market in the region. The Middle East and Africa have shown growth in animal rennet production and Asia-Pacific regions have shown an increase in vegetable and microbial rennet production.
Rennet Market: Drivers and Restraints:
The increase in the environmental awareness and improved methods of production of inexpensive rennet has created a new opportunity in the rennet market. It will cause an increase in the non-animal rennet market. There is a little chance of decrease in the animal rennet market as the animal rennet produces superior quality cheese and the brands poses its product as top of the class in comparison to the cheese made up of non-animal sources. Also growing fast food chains and food & beverage MNCs’ created a market for the local producers to venture into the rennet production to suffice the need of the industry.
The increase in vegan population may hamper the growth of the animal rennet market but the demand is still high in terms of volume in the market.
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Rennet Market: Key Players:
The major manufacturers of rennet across the global market are WalcoRen, Vahgan EV. Tigra co Ltd, Iran Industrial Enzyme co, Bioactive Yeast Co., Ltd. (Tailong Food), Yangzhou Chemical Co. Ltd, Scientific and Technological Bioresource Nucleus, Chr. Hansen Holding A/S, DuPont Nutrition & Health, Finest Kind, Sudershan Biotech Ltd, RENCO New Zealand, MAYASAN Food Industries A.S.