The global rennet market is exercising exponential growth, and is expected to continue the same trend in the coming years. Rennet is an enzyme chymosin that is found in the stomach lining of animals, which helps in the digestion of their mother's milk. Rennet is used to coagulate or thicken the milk to make cheese. It can be derived from four sources; plant-based, which is derived from cardoon thistle, nettles, and other plants. Plant-based rennet is less efficient than the other rennet. Fermentation produced rennet (FPC) is purer than other rennet and provides proteins, and makes cheese softer, improves textures, and reduces bitterness. FPC is an artificially produced enzyme certified by the U.S. Food and Drug Administrations. The rennet market is fragmented depending on type, form, end-user, sales channel, and region.

COVID-19 scenario analysis

Rennet market is significantlyimpacted due to the COVID-19 pandemic.
Owing to COVID-19, the government imposed lockdown that has negatively impacted businesses and economy.
In addition, transportation has been banned that has disrupted the supply of products.
Consumers are stockpiling, which has caused retail outlets to have empty shelves.
The import–export and closed factory has greatly impacted the supply chain.
Online websites have a positive impact on the sales of the rennet market.

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Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

Surge in demand for cheese due toits nutritional properties is the key factordriving the growth of the global rennet market. Increase in awareness about rennet nutritional properties boosts the growth of the global market. Furthermore, increase in use of cheese in different products contributes toward the growth of the market. Moreover, increase in per capita and improvement in living standards support the growth of the global market.

However, animal-based rennet can hamper the global market, owing to the fact that different religious beliefs and culture that can hurt the sentiments of a community. In addition, the availability of substitute products can hinder the global rennet market. On the contrary, changing sources of rennet production is antedated to create lucrative opportunity for the growth of the global market. Furthermore, increase in variety of packaging, sizes, and shapes of the product increases the consumption in the global market.

Key benefits of the report

This study presents the analytical depiction of the global rennet industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global rennet market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global rennet market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.

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Questions answered in the rennet market research report:

Which are the leading players active in the global rennet market?
What are the current trends that will influence the market in the next few years?
What are the driving factors, restraints, and opportunities of the market?
What future projections would help in taking further strategic steps?