| Product Code: ETC5046310 | Publication Date: Nov 2023 | Updated Date: Oct 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Sachin Kumar Rai | No. of Pages: 60 | No. of Figures: 30 | No. of Tables: 5 |
Cyprus continued to rely on key suppliers for rennet imports in 2024, with Greece, USA, Netherlands, Belgium, and Germany leading the way. Despite a high concentration of supply in 2023, the Herfindahl-Hirschman Index (HHI) remained at a concerning level in 2024. The industry experienced impressive growth with a compound annual growth rate (CAGR) of 10.84% from 2020 to 2024. However, there was a sharp decline in growth rate from 2023 to 2024, indicating potential challenges or shifts in the market dynamics. Monitoring the market concentration and exploring diversification strategies may be crucial for stakeholders in the Cyprus rennet import sector.

Cyprus's Rennet market is anticipated to experience a stable growth rate of 1.60% by 2027, reflecting trends observed in the largest economy Germany, followed by United Kingdom, France, Italy and Russia.

The Rennet market in Cyprus is an integral part of the dairy industry, particularly in cheese production. Rennet, an enzyme used to curdle milk, plays a critical role in the cheese-making process. The increasing popularity of cheese varieties and the rise of artisanal cheese production are driving demand for rennet in Cyprus. Additionally, the trend towards natural and organic food products is influencing consumer preferences, leading to a rise in the use of animal- and plant-based rennet alternatives. The market is expected to grow as dairy producers adapt to evolving consumer demands and production practices.
The Rennet Market in Cyprus is driven by the increasing demand for cheese production, as rennet is a key ingredient in cheese-making processes. The rise in consumer preferences for natural and artisanal cheese products is boosting the demand for rennet. Additionally, the growth of the dairy industry and the expansion of cheese production facilities are significant factors propelling this market. Innovations in rennet production, including the development of microbial and vegetable-based rennet, are also shaping the market landscape.
The Rennet market in Cyprus is challenged by the small size of the dairy industry, which limits local demand for rennet. Additionally, the market is highly dependent on imports, which can lead to supply chain issues and fluctuations in pricing. The rising trend of plant-based diets and alternative proteins also poses a challenge to traditional rennet producers, as demand for dairy products decreases. Furthermore, ensuring the quality and consistency of rennet, especially in artisanal cheese production, can be difficult due to varying regulatory standards and production methods.
The government of Cyprus plays a significant role in regulating the Rennet market, particularly in relation to food safety and quality standards. Policies are designed to ensure that all dairy products, including cheese made using rennet, meet stringent health regulations. The Cyprus Ministry of Health and the Department of Veterinary Services establish guidelines for the production and use of rennet, promoting transparency and consumer safety. Additionally, initiatives to support the dairy industry, such as subsidies and grants for modernizing production processes, encourage the use of high-quality ingredients, including natural and organic rennet options. The government`s focus on promoting local dairy production and encouraging artisanal cheese makers aligns with broader objectives of enhancing the quality and variety of Cypriot cheeses in both local and international markets.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Cyprus Rennet Market Overview |
3.1 Cyprus Country Macro Economic Indicators |
3.2 Cyprus Rennet Market Revenues & Volume, 2021 & 2031F |
3.3 Cyprus Rennet Market - Industry Life Cycle |
3.4 Cyprus Rennet Market - Porter's Five Forces |
3.5 Cyprus Rennet Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.6 Cyprus Rennet Market Revenues & Volume Share, By Form, 2021 & 2031F |
3.7 Cyprus Rennet Market Revenues & Volume Share, By End-Users, 2021 & 2031F |
3.8 Cyprus Rennet Market Revenues & Volume Share, By Sales Channel, 2021 & 2031F |
4 Cyprus Rennet Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Cyprus Rennet Market Trends |
6 Cyprus Rennet Market Segmentations |
6.1 Cyprus Rennet Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 Cyprus Rennet Market Revenues & Volume, By Animal-derived Rennet, 2021-2031F |
6.1.3 Cyprus Rennet Market Revenues & Volume, By Microbial Rennet, 2021-2031F |
6.1.4 Cyprus Rennet Market Revenues & Volume, By Fermentation Produced Chymosin Rennet, 2021-2031F | 6.1.6 Cyprus Rennet Market Revenues & Volume, By Vegetable Rennet, 2021-2031F |
6.2 Cyprus Rennet Market, By Form |
6.2.1 Overview and Analysis |
6.2.2 Cyprus Rennet Market Revenues & Volume, By Liquid, 2021-2031F |
6.2.3 Cyprus Rennet Market Revenues & Volume, By Powder, 2021-2031F |
6.2.4 Cyprus Rennet Market Revenues & Volume, By Paste, 2021-2031F |
6.3 Cyprus Rennet Market, By End-Users |
6.3.1 Overview and Analysis |
6.3.2 Cyprus Rennet Market Revenues & Volume, By Food & Beverages, 2021-2031F |
6.3.3 Cyprus Rennet Market Revenues & Volume, By Pharmaceuticals, 2021-2031F |
6.3.4 Cyprus Rennet Market Revenues & Volume, By Industrial, 2021-2031F |
6.3.5 Cyprus Rennet Market Revenues & Volume, By Chemicals, 2021-2031F |
6.3.6 Cyprus Rennet Market Revenues & Volume, By Others, 2021-2031F |
6.4 Cyprus Rennet Market, By Sales Channel |
6.4.1 Overview and Analysis |
6.4.2 Cyprus Rennet Market Revenues & Volume, By Online, 2021-2031F |
6.4.3 Cyprus Rennet Market Revenues & Volume, By Offline, 2021-2031F |
7 Cyprus Rennet Market Import-Export Trade Statistics |
7.1 Cyprus Rennet Market Export to Major Countries |
7.2 Cyprus Rennet Market Imports from Major Countries |
8 Cyprus Rennet Market Key Performance Indicators |
9 Cyprus Rennet Market - Opportunity Assessment |
9.1 Cyprus Rennet Market Opportunity Assessment, By Type, 2021 & 2031F |
9.2 Cyprus Rennet Market Opportunity Assessment, By Form, 2021 & 2031F |
9.3 Cyprus Rennet Market Opportunity Assessment, By End-Users, 2021 & 2031F |
9.4 Cyprus Rennet Market Opportunity Assessment, By Sales Channel, 2021 & 2031F |
10 Cyprus Rennet Market - Competitive Landscape |
10.1 Cyprus Rennet Market Revenue Share, By Companies, 2024 |
10.2 Cyprus Rennet Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |