The global market for microbial rennet was valued at USD 702.31 million in 2023. The global market size is expected to grow at a CAGR of 6.31% throughout the forecast period to reach USD 1145.97 million by the end of 2028.
The process of cheese-making involves the utilization of a microbial rennet enzyme. This enzyme is responsible for the coagulation of milk proteins, which ultimately results in the production of whey or curds. Traditional animal rennet is derived from the digestive tract of calves, while microbial rennet, which is produced from genetically modified fungi and bacteria, is derived from young ruminants. Microbial rennet is a popular choice for consumers who have a vegetarian or vegan diet, as it is more stable and reliable than animal rennet, and the production process is subject to careful control to guarantee regular enzyme activity. On the other hand, animal rennet is preferred by some cheese makers due to its traditional and flavor-enhancing properties. The microbial rennet market has witnessed significant growth across the globe in recent years. As a cost-effective and sustainable alternative to animal-based rennet, microbial rennet has gained popularity in the food industry.
The microbial rennet market demand is anticipated to be driven by factors such as environmental concerns, changing dietary preferences, and the demand for sustainable and plant-based alternatives. Despite the dominance of animal-based rennet, microbial rennet is expected to gain significant market share in the coming years. With continuous advancements in fermentation technologies and increasing consumer awareness, microbial rennet holds immense potential in the food industry.
Rising cheese consumption to drive the global microbial rennet market growth- The global microbial rennet market is expected to witness a surge in demand and consumption of cheese as the world's population continues to grow. In November 2022, the world's population exceeded 8 billion people. The changing food habits of end consumers have also contributed to the growth of the cheese market. Consumers are increasingly aware of the availability of cheese products at supermarkets and hypermarkets, as well as through online sales channels. Additionally, people are increasingly interested in trying different cuisines from different regions, which has also contributed to the changes in consumption habits and eating patterns. Furthermore, the growing demand for microbial rennet can be attributed to several factors. The increasing awareness about the environmental impact of animal-based rennet production has led to a shift towards microbial rennet. Unlike animal-based rennet, which is derived from the stomach lining of young ruminants, microbial rennet is produced through fermentation processes using genetically modified microorganisms. Moreover, the rising vegan population has also contributed to leveling up microbial rennet market share. Many consumers are opting for plant-based alternatives due to ethical, health, or religious reasons. Microbial rennet provides an ideal solution for vegetarians and vegans to enjoy cheese without compromising their dietary choices.
Lack of awareness may act as a restraining factor for microbial rennet market growth-
The microbial rennet industry may experience limited expansion due to a lack of public awareness of microbial rennet and the benefits associated with the consumption of cheese and other microbial-derived products. It is undeniable that there has been an increase in the demand for vegetarian rennet in comparison to animal rennet. However, the growth has been limited, resulting in a decrease in revenue. Animal rennet is the preferred rennet for the majority of the final consumers of companies in the food and beverage industry, as it is readily available and relatively more popular.
Rising demand for vegetarian cheese to provide lucrative growth opportunities for the market-
It is anticipated that the microbial rennet market will experience a surge in growth due to the increasing demand for cheese that is either vegetarian or halal-certified. Halal-certified cheese is an edible product that is produced in compliance with Islamic dietary regulations, which prohibit certain food products from being consumed. With the increasing prevalence of vegan diets and vegetarian food products, it is expected that microbial rennet will generate more income, particularly in countries where the consumption of animal-derived edible products is declining.
The future outlook for the microbial rennet market is promising, with several growth opportunities on the horizon. The development of advanced fermentation technologies, coupled with the rising trend of natural and organic food products, is expected to drive the microbial rennet market growth. Furthermore, ongoing research and development activities aim to enhance the efficiency and functionality of microbial rennet, ensuring its cost competitiveness and quality. This, along with increasing investments by major players in the market, is expected to contribute to the steady growth of the microbial rennet market over the forecast period.
The impact of COVID-19 on the microbial rennet market was significant in the initial phase, but some relaxations and restrictions eased at the end of 2020, and the shares started to rise exponentially. While there was increased demand for dairy products, including cheese, during lockdowns as people cooked more at home, disruptions in the supply chain and closures of food service establishments led to challenges for the industry. While home cooking and baking trends led to increased demand for cheese and cheese-related products, which in turn boosted the demand for microbial rennet, a key enzyme in cheese production, the pandemic disrupted supply chains worldwide, affecting the availability of raw materials needed for microbial rennet production. This led to fluctuations in supply and pricing. Furthermore, the closure or limited operations of restaurants and food service establishments reduced demand for cheese, impacting the overall cheese industry and indirectly affecting microbial rennet suppliers. However, the pandemic accelerated research into alternative and sustainable sources of rennet, including microbial and plant-based options, as the industry sought more resilient and sustainable supply chains.
The cheese segment saw the highest market growth in the industry in 2023 due to the increased use of microbial rennet in the process of production.
While plant-based rennet can also be used in the production of other products such as yogurt or dessert, the main application of microbial rennet has been in the production of cheese for a long time. This form of rennet can produce high-quality cheese with the same texture and flavor as animal rennet. The microbial form can also be used for the production of a wide range of cheese products, such as soft cheese, hard cheese, specialty cheeses, etc. This makes it more versatile than other forms of rennet. When using microbial rennet for the production of cheese, a particular strain of fungal or bacterium is used. The predictability and consistency of the coagulation is the main reason for the demand for microbial rennet.
The global market is divided into powder, liquid, and others based on form. The liquid microbial rennet market size has been growing at a faster rate over the past few years, and the powder segment is gaining traction over the market shares.
However, the preference for the form of the microbial rennet depends on the end user and their specific needs. For example, the liquid forms of microbial rennet are easy to mix with the milk and can be added directly without the need for an additional mixture. They are preferred in some types of cheese-making processes where fast coagulation and even consistency are required. On the other hand, the powdered form of the plant-based rennet is simple to store and less susceptible to damage caused by external conditions. If the liquid type is stored airtight at 37°F - 42°F, it can last for up to one year.
The microbial rennet market in North America is expected to experience the highest growth due to the increasing cheese consumption in Canada, Mexico, and the US. The US is also the largest regional market for microbial rennet. Several US companies have invested to meet the needs of the rapidly growing vegetarian population, which includes plant-based cheese as well as other regular edible products. The high CAGR in North America is due to the presence of pioneering firms that are revolutionizing the technologies and research related to plant-based cheese production, including the utilization of microbial rennet.
Europe is expected to hit the highest market growth rate by the end of 2028 due to the increasing food & beverages sector in Spain, France, and Germany, as well as the UK.
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