New York, US, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Yeast Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Yeast Market Information By Type, Form, Application, and Region- Forecast till 2030”, the market is estimated to acquire a size of over USD 8.67 Billion by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 8.78% during the review timeframe.
Market Scope:
Yeast is a eukaryotic, single-celled organism that is a member of the fungal kingdom. Two common forms of specialized yeast on the market today are autolysates and yeast extracts. Yeast and yeast extract are frequently used in many different products, including baked items, nutritional supplements, and probiotics. Some of the many products made by breaker's yeast include ethanol, bread, and antibiotics. Saccharomyces cerevisiae spices are also detectable in alcoholic beverages made with the yeast.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 8.67 Billion |
| CAGR | 8.78% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Form, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Nutritional Benefits Of Yeast |
| Increasing Demand For Natural Food Additives |
Competitive Dynamics:
The leading companies in the yeast market frequently engage in a wide range of competitive measures, including collaboration, mergers, and partnerships, in order to fortify their positions in the worldwide market. But in this cutthroat industry, the primary focus is on new product developments and launches to not only maintain brand loyalty but also draw in more customers. Setting up new production facilities or extending existing ones is a big focus point for market rivals wanting to keep ahead of the pack. The major key players are as follows:
- Associated British Foods PLC (U.K)
- Hansen A S (Denmark)
- Angel Yeast (China)
- Lallemand Inc. (Canada)
- Lesaffre (France)
- Leiber GmbH (Germany)
- Novozymes (Denmark)
- Koninklijke DSM N.V. (The Netherlands)
- Kerry Group PLC (Ireland)
- Synergy Flavors (U.S.)
- Kothari Fermentation and Biochem Ltd. (India)
- Omega Yeast Labs LLC (U.S.)
- Pak Group (U.S.)
- Oriental Yeast Co. Ltd. (Japan)
- BSG Craft Brewing (U.S.)
Market USP:
Market Drivers
The yeast industry is currently through a period of profound change, which was ushered in by the advent of yeast commercialization. Baking's popularity is on the rise, and so is the need for alcoholic drinks and bioethanol as a fuel, all of which are contributing to yeast's growing proportion of the global market. The rising popularity of alcoholic beverages, the rising popularity of baked goods, and the increasing emphasis on the quality of animal feed all point to a bright future for the yeast business.
Increased consumer education about health concerns, shifting consumer lifestyles, and a fervent desire for high-nutrition, high-quality, on-the-go foods all have an impact on yeast market trends. Companies at the top of their fields are always on the lookout for new ways to satisfy their customers' ever-changing wants and demands in order to win their loyalty and cement their positions as market leaders.
In addition, the future looks bright for yeast as the role of local bakeries continues to expand across the globe. High innovation and manufacturing capacities, as well as strong customer connections, may benefit industry participants over the assessment period and aid to realize the market forecast.
With an increasing preference for snacking on packaged cakes, especially among youngsters around the world, it is expected that demand for packaged baked products, such as cakes, would rise in the coming years. Demand for baker's yeast is expected to increase throughout the forecast period as pizza consumption is at its highest level in four years and pizza-focused ideas are rising across channels.
The rising popularity of gluten-free and speciality breads, as well as the effect of rising retail pricing on bread and bakery product sales, are driving up demand for baker's yeast.
Technology's application in trade has been the single most beneficial factor in the study of and expansion of the yeast business. Because of technological advancements, the yeast industry is predicted to expand at a considerably faster rate than previously thought.
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Market Restraints
Market growth in the next years may be stymied by factors including the high demand for essential raw materials and the lack of knowledge among farmers about the advantages of feed. Lack of government support in a number of nations, as well as decreasing R&D funding, may affect the yeast market value in the next years. Essentials including food, medicine, and cleaning supplies are in short supply among this group. Yeast is commonly utilized in the food, beverage, pharmaceutical, and personal care industries, hence this development lowered the demand for that ingredient.
COVID-19 Analysis:
The yeast industry has been hit hard by the COVID-19 pandemic, which has caused the temporary closure of factories and a decrease in demand. The fundamental goal of the yeast industry is to avoid the spread of SARS-CoV-2 among healthcare workers, so the industry is focusing on nurturing its supply chains and speeding up operations to prevent future income losses. The new coronavirus has been contained, and the lockdown is being gradually lifted in different nations, which bodes well for the future of the global market. Promotional efforts on the part of market participants have expedited the growth of the worldwide yeast market and increased the market share that yeast has. It is anticipated that the global market would expand at a more rapid rate in the years ahead than it has in the past.
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Market Segmentation:
Based on the type
Baker’s yeast segment is poised to record a notable CAGR over the review period.
Based on the forms
Instant segment is expected to record the highest growth over the review period.
Based on the applications
Foods segment is slated to expand at a substantial CAGR over the review period.
Regional Analysis:
Europe has more than 33.02 percent of the global market, making it the most influential region in the future of the yeast business. It is expected that Germany will be the fastest-growing market because of the country's strong consumption of processed foods and alcohol, followed by the United Kingdom and France. As in the past, the strong demand for yeast in many European countries is mostly attributable to the widespread consumption of bread, cakes, alcoholic beverages, and pastries.
Predictions put North America at the top, with the United States continuing to be the region's most lucrative market. The United States' prominence as a biofuel producer increases the value of yeast, which is still widely used. Producing enormous quantities of biodiesel and ethanol fuel with corn as the primary feedstock is the country's primary economic focus. In addition, the country is a frontrunner in the manufacture of cutting-edge biofuels, such as those derived from algae and fermented with yeast. Because of this, there is a high demand for yeast across the country and eventually the region, and this trend is predicted to continue to increase.
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