Vegetarian Rennet Market size is estimated to be USD 290 Million in 2024 and is expected to reach USD 500 Million by 2033 at a CAGR of 6.5% from 2026 to 2033.
The global vegetarian rennet market was valued at approximately USD 1.45 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030. The increasing demand for vegetarian and plant based food products, especially among the growing vegan population, is driving the market growth. North America dominated the market in 2022, accounting for over 35% of the global share. This can be attributed to the high adoption of plant based diets, a strong presence of vegan and vegetarian food manufacturers, and the rising consumer awareness regarding animal free food options. Europe also holds a significant market share, contributing to the global revenue due to rising demand for cheese and dairy alternatives using vegetarian rennet in countries like Germany, the UK, and France.
In terms of growth, Asia Pacific is projected to witness the fastest growth during the forecast period, with a CAGR of 9.1%. This regions growth is attributed to the increasing preference for vegetarian and plant based food products in countries like India, China, and Japan, combined with the expanding vegan and vegetarian population. Additionally, rising disposable incomes, urbanization, and a shift toward healthier eating habits are expected to contribute to market growth in the region. The Latin American market is also anticipated to experience steady growth, fueled by increasing awareness of vegetarian food products and the availability of vegetarian rennet alternatives in countries such as Brazil and Argentina.
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DSM
DuPont
Mayasan
Yokobio
CHR Hansen
Sacco System
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Vegetarian Rennet Market
Liquid Rennet
Powdered Rennet
Tablet Rennet
Microbial Rennet
Plant-based Rennet
Fungal Rennet
Cheese Production
Food and Beverage Processing
Pharmaceuticals
Food Manufacturers
Dairy Producers
Pharmaceutical Companies
Online Retailers
Supermarkets and Hypermarkets
Specialty Stores
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Vegetarian Rennet Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Vegetarian Rennet Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Vegetarian Rennet Market, By Type
6. Global Vegetarian Rennet Market, By Application
7. Global Vegetarian Rennet Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Vegetarian Rennet Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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