The global fermented chymosin market is expected to gather a revenue of nearly US$ 6.7 billion by 2032, up from US$ 4.6 billion in 2022. The market is said to register a CAGR of 3.5% during the forecast period of 2022 to 2032.
Fermented chymosin is an enzyme that enables milk clotting and is used for cheese production. Fermented chymosin is an excellent coagulant that is produced by the fermentation process. The commonly used micro-organisms for the production of fermented chymosin are Aspergillus niger and Saccharomyces (Kluyveromyces) lactic. Some manufacturers produce fermented chymosin with the help of recombinant DNA technology. The genes required for the production of chymosin enzyme are inserted in the micro-organisms, which are further used to produce chymosin by the fermentation process.
The Increasing Vegan Population Drive the Demand for Fermented Chymosin
According to a study done by Vegetarian Times, about 7.3 million individuals, i.e. 3.2% of the US adults follow a vegetarian-based diet. Out of 7.3 million people, one million people do not consume any animal products. The vegan population is increasing all across the world. The increase in the vegan and flexitarian population is estimated to have a positive impact on the fermented chymosin market.
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The increasing demand for cheese is estimated to serve as a driver for the fermented chymosin market. The major concern of the cheese manufacturers is to optimize the texture, taste, whey value, and slice ability of cheese to fulfill the increasing requirements of the consumers. Thus, fermented chymosin serves as a suitable coagulant as it helps to improve the taste and texture of cheese. Also, as the health-awareness among the consumers is increasing the manufacturers are trying to develop fermented chymosin that helps to lower the salt content of cheese. The manufacturers of cheese have the opportunity to develop cheese with low salt content to attract health-conscious consumers.
The presence of various alternatives such as animal and microbial rennet is anticipated to hamper the sales of fermented chymosin. The microbial rennet is an excellent substitute as it is not derived from animals and provides similar important properties as that of fermented chymosin. But the rennet obtained from animal and microbial source can also cause unwanted accumulation of the by-products and further can lead to contamination of rennet, and thus, the cost for purification of rennet increases. Therefore, the manufacturers are using genetic engineering to insert the rennet genes and are inserting it into some fungi and bacteria to obtain chymosin using fermentation process. Also, the GMO (Genetically Modified Organisms) are killed after the fermentation process to avoid the contamination of fermented chymosin.
Fermented Chymosin Market: Regional Analysis
The demand for cheese is anticipated to increase in the Asia Pacific region, which is expected to boost the sales of fermented chymosin. The impact of Western culture, rise in disposable income, increase in demand for fast food, and large youth population is estimated to serve as a few drivers for the increase in the demand for cheese. Also, the vegan population is increasing at a high rate in the Asia Pacific. Thus, the increasing vegan population and demand for cheese are expected to create an opportunity for fermented chymosin manufacturers to establish themselves in the Asia Pacific region.
Cheese consumption is high in North America and Europe but the changes in consumer preferences are estimated to have a positive impact on the fermented chymosin market. In recent years, the consumer demand for products free from animal-derived ingredients is increasing, and thus, fermented chymosin is a good option as it is aligned with consumer requirements.
Fermented Chymosin Market: Key Participants
Few key market players in the fermented chymosin market are:
- Hansen A/S
- Koninklijke DSM N.V.
- Maysa G?da
- Mayasan AS
- Nelson-Jameson
The report covers an exhaustive analysis on:
- Fermented chymosin Market Segments
- Market Dynamics
- Market Size
- Supply and Demand
- Current Trends/Issues/Challenges pertaining to fermented chymosin market
- Competition Landscape and Emerging Market Participants in fermented chymosin market
- Technology related to Production/Processing of fermented chymosin
- Value Chain Analysis of the fermented chymosin market
The regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
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Fermented Chymosin Market Segmentation
The fermented chymosin market can be segmented on the basis of form, end-use, and sales channel:
The fermented chymosin market can be segmented on the basis of the form as:
- Liquid
- Granules
The fermented chymosin market can be segmented on the basis of the end-use as:
- Food Processing
- Pharmaceutical Industry
- Foodservice/HoReCa(Hotels/Restaurants/Café)
- Household
The fermented chymosin market can be segmented on the basis of the sales channel as:
- Direct Sales
- Indirect Sales
- Hypermarkets/Supermarkets
- Wholesalers
- Specialty Stores
- Online Retailers
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