NEWARK, Del, Oct. 12, 2023 (GLOBE NEWSWIRE) -- The yeast market is likely to hold a valuation of US$ 5.98 Billion by 2033. As of 2023, the market value is US$ 3.83 Billion. As the demand for yeast in various industries foresees growth, the yeast market is expected to grow by 4.6% from 2023 to 2033.
Yeast has been used in traditional home cooking and baking in Western countries since the beginning. It also finds its applications in many other industries, such as pharmaceuticals, wastewater, agriculture, and animal fodder. Recently, yeast has garnered attention from the biofuel industry, which uses yeast as a natural fermenting agent to produce bioethanol by fermenting sugars and starches.
It is also used in agriculture to enhance the nutritional value of fodder consumed by the cattle. It is also used to decontaminate the soil from harmful pollutants. Restaurant chains specializing in baked goods, like pizzas and burgers, rely on yeast for their signature creations. The demand for yeast in the international market has also seen considerable growth due to the recent pandemic, which required increased home baking and cooking activities.
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There are various types of yeast varieties in the market. The baker's yeast is one of the most common and widely used varieties, thanks to its versatile applications within the baking industry. The dry form of yeast contributes significantly to the global yeast market due to its long shelf life, affordability, and easy availability worldwide.
“The market is filled with misconceptions and myths regarding the ill-effects of yeast and yeast-related products. Key players in the market need to strategically plan the branding of yeast so that people become more aware of the products. They can actively take support from the government to promote yeast as it has a lot of nutritional value”, opines Nandini Roy Choudhury, Client Partner at Future Market Insights.
Key Takeaways from the Yeast Market Report:
- The yeast market is expected to grow at a modest rate of 4.6% from 2023 to 2033.
- Baker’s yeast dominates the global market with an overall revenue share of 33.30%.
- The United States of America is the largest consumer of yeast and yeast-related products, with a revenue share of 19.0%.
- The Indian yeast market is growing remarkably at 7.1% CAGR. Germany, Japan, and the United States follow it.
- China is the highest exporter of yeast and yeast-associated products.
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Competitive Landscape in the Yeast Market:
The global yeast market attracts numerous international companies due to the easy availability and acquisition of yeast. The extended shelf life of dry yeast facilitates its storage and distribution worldwide, enabling intense competition among yeast manufacturers on a global scale. The consistency in the procurement process shapes the competitive landscape, as consumers predominantly favor untreated and pure yeast products, resulting in a continuous demand over the years.
Recent Developments in the Yeast Market:
- In 2023, Lallemand Biofuels introduced a novel yeast strain known for its high-temperature tolerance, suitable for bioethanol production from diverse feedstock sources.
- In 2022, Lesaffre, a renowned yeast producer, introduced a fresh range of organic yeast offerings tailored for the bakery sector.
- In 2023, AB Vista, a prominent global yeast manufacturer, announced an innovative yeast strain engineered for enhanced ethanol production from corn.
Key Companies in the Yeast Market
- Associated British Foods plc
- Angel Yeast (Chifeng) Co., Ltd.
- Lallemand Inc.
- Lesaffre International
- Oriental Yeast India Pvt Ltd.
- AB Mauri Foods, Inc.
- Chr. Hansen Holding A/S
- Kerry Group Plc
- Koninklijke DSM N.V.
- Leiber GmbH
- Ohly GmbH & Co. KG
- Fadayeast.Com
- AGRANO Gmbh & Co. KG
- Kothari Fermentation and Biochem Ltd.
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Key Segments
By Type:
- Baker’s Yeast
- Bi-ethanol Yeast
- Feed Yeast
- Wine Yeast
- Brewer’s Yeast
By Form:
- Dry Yeast
- Fresh Yeast
- Instant Yeast
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
Have a Look at Related Reports of Food and Beverage Domain:
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- Yeast Extract sales are expected to be worth US$ 4,318.0 million in 2022. According to Future Market Insights (FMI), the global market value is estimated to reach US$ 8,707.7 Mn by 2032, growing at a 7.3% CAGR between 2022 and 2032.
- According to newly released data from Future Market Insights' yeast autolysates market report, global consumption of yeast autolysates increased by 5.2% year on year (YoY) in 2021 to total sales of US$ 1556.3 Mn.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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