Global
Bovine Rennet Market: Overview
Enzyme
complex produced in the stomach of bovine is known as bovine rennet.
Rennet separates milk into solid curds and is used in liquid whey and
for making cheese. Rennet contains enzymes including chymosin,
lipase, and pepsin. Vegetarian rennet is a major substitute for
bovine rennet and is derived from sources such as wild thistles,
safflower, fig leaves, melons, and microorganisms. The North America
bovine rennet market accounts for relatively high revenue share,
followed by Western Europe bovine
rennet market.
Whereas, APEJ account for relatively high volume share in global
bovine rennet market with significant growth rate.
Global
Bovine Rennet Market: Dynamics
Some
of the important factor fuelling the growth of global bovine rennet
market include growing dairy market especially cheese market and
growing fast food market. To counter the same, bovine rennet market
players are investing in the production of bovine rennet to meet the
growing market demand. Some macroeconomic factors making a positive
impact on global bovine rennet market includes increasing population,
the rapid rate of urbanization, and growing domestic income.
Vegetarian rennet is a major substitute for bovine rennet which in
turn, leads to restraining the global bovine rennet market. Other
restraining factors of bovine rennet market include food safety
issues, religious issues, animal rights issues, and supply problems.
The trend identified in the global bovine rennet market is mergers
and acquisitions between bovine rennet suppliers and cheese
producers. The company manufacturing bovine rennet products has a
significant opportunity in regions such as North America, Europe, and
Asia Pacific, attributed to high demand for dairy food products over
the forecast period. Companies have a significant opportunity in
global bovine rennet market through collaboration with end-users i.e.
dairy food producers.
Global
Bovine Rennet Market: Segmentation
The
global bovine rennet market is segmented by product type, product
form, and by region. By product type, the global bovine rennet market
is fragmented as non-GMO bovine rennet and GMO bovine rennet. Among
these, the non-GMO bovine rennet segment is expected to contribute to
the significant revenue share with a relatively high growth rate over
the forecast period considering both value and volume in the global
bovine rennet market. GMO bovine rennet segment is followed by the
non-GMO bovine rennet segment, attributed to the difficulty in
knowing whether the rennet is genetically engineered or not as there
is no guideline to label the GMO rennet.
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Based
on the product type, the global bovine rennet market is segmented
into:
- Non-GMO Bovine Rennet
- GMO Bovine Rennet
Based
on the product form, the global bovine rennet market is segmented
into:
- Powder Form
- Granular Form
- Liquid Form
Global
Bovine Rennet Market: Regional Overview
By
geographies, the global bovine rennet market is segmented into seven
regions -- North America, Western Europe, Asia-Pacific except Japan
(APEJ), Eastern Europe, Latin America, the Middle East & Africa,
and Japan. Among the regions, North America dominates the global
bovine rennet market in terms of value, owing to a significant
revenue share of the region in the dairy industry. Western Europe is
followed by North America in the global bovine rennet market,
attributed to rapidly rising demand for fast food products across the
region. Eastern Europe and Japan also accounts for significant value
share in the global bovine rennet market. The APEJ is expected to
account for relatively high volume share in the global bovine rennet
market, owing to a relatively high growth rate of food industry over
the forecast period. Latin America and Middle East Africa is expected
to have relatively high opportunity for bovine rennet market players,
attributed to high growth rate of the dairy industry across the
regions. Overall, the outlook for the global bovine rennet market
will have a positive growth over the forecast period.
Global
Bovine Rennet Market: Key Players
Few
players of bovine rennet market include Australian Dairy Ingredients,
Gansu Huaan Biological Products Co., Ltd., Prem Enterprise, Gansu
Hualing Milk Products Group, SIPOLYA BROTHER'S, Atlantal S.A., Gansu
Token International Trading Co., Ltd., Guangzhou Abana Co., Ltd.,
Global Export Co, ltd.
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