Chicago, April 11, 2024 (GLOBE NEWSWIRE) -- The global yeast industry is experiencing a delicious rise, fueled by our insatiable appetite for bread, beer, and a focus on healthier living. According to a new report published by MarketsandMarkets, the market is projected to reach a staggering $8.5 billion by 2029, driven by a Compound Annual Growth Rate (CAGR) of 8.9%. This surge can be attributed to several key factors:
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- Booming Bakery and Beverage Industries: Baker's yeast, the dominant player, is seeing increased demand due to rising bread consumption, especially in developing regions like India. Brewer's yeast is also experiencing a boost thanks to the ever-popular craft beer movement.
- The Rise of the Health-Conscious Consumer: The demand for natural and clean-label ingredients is propelling the market forward. This trend is encouraging innovation in yeast strains and applications, leading to a wider variety of healthy and sustainable products.
- Revolutionizing Animal Feed: The feed sector is a significant market player, driven by the need for enhanced nutritional benefits in animal feed. Yeast-based solutions offer improved feed efficiency, gut health, and nutrient digestibility, promoting animal performance and welfare. This focus on sustainability is attracting major players like Phileo by Lesaffre (France) with their innovative probiotic yeast products.
Regional Standouts:
- North America: The US leads the pack due to robust trade opportunities. As the world's 6th largest exporter of yeast (USD 147 million in 2022), the US plays a major role in the global market, with Canada, Mexico, and Japan being key export destinations. Its strong import presence (USD 439 million in 2022) allows for strategic trade deals, solidifying its dominance in North America.
Industry Leaders:
- Associated British Foods plc (UK)
- Alltech (Kentucky)
- AngelYeast Co., Ltd (China)
- Lallemand Inc. (Canada)
- ICC (Brazil)
- Leiber (Germany)
The Future of Yeast:
As consumer preferences and technological advancements continue to evolve, the yeast market is poised for exciting growth. We can expect to see further diversification in applications and product offerings, with a continued focus on health, sustainability, and catering to the ever-changing demands of a global market.
