Pune, India, May 13, 2019 (GLOBE NEWSWIRE) -- Yeast Market is poised to touch USD 5398.5 Mn by 2023 at an Impressive 8.86% CAGR during the forecast period (2018-2023), reveals the latest report by Market Research Future (MRFR).
Yeast are single-celled fungus which can be produced by fermentation or genetic engineering. The term ‘yeast’ is usually synonymous with Saccharomyces cerevisiae, a species used exclusively in the manufacture of beer and wine. The demand in foods, beverages, animal feed, and others is expected to be the major driver of the global yeast market.
Market Analysis
The Global Yeast Market is projected to exhibit a stupendous CAGR of 8.86% over the forecast period (2017-2023), to reach a valuation of USD 5,398.5 million by 2023, according to a new research report from Market Research Future (MRFR).
The increasing use of yeast in the food and beverage industry is likely to be the biggest catalyst of the market. Furthermore, the use of fermentation to create strains of yeast on a large scale is likely to culminate in high market demand. Awareness among consumers and the expendable income levels to buy the yeast-derived products can augur well for the yeast market growth.
The market can experience upheaval, growth-wise, due to the access granted to the National Collection of Cultures of Microorganisms which contains more than 193 lactic and other bacterial strains. These strains have been successfully used in the production of yogurts and fermented milk. Danone, the popular brand, has opened its collection of 1600 microbial strains to the public in order to create awareness.
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Key Players and Industry Buzz
Top players in the global yeast market include Associated British Foods plc, Synergy Flavors, Oriental Yeast Co. Ltd., Leiber GmbH, Lesaffre, Pak Group, Angel Yeast, Koninklijke DSM NV, Kerry Group plc, BSG CraftBrewing, Chr. Hansen AS, Kothari Fermentation and Biochem Ltd., Omega Yeast Labs LLC, Lallemand Inc., and Novozymes.
Genetically engineered yeast is being used by biotechnology companies such as Demetrix for improving the process of immunoprecipitation (IP) for extracting various cannabinoids (CBD) from cannabis plants. The success of these CBDs in cell culture mediums can be a breakthrough for pharmaceutical companies worldwide.
Segmentation:
The Global Yeast Market is segmented on the basis of type, form, and application.
On the basis of Type, the global market is segmented into baker’s yeast, feed yeast, wine yeast, bioethanol yeast, brewer’s yeast, and others. Baker’s yeast accounted for more than 40% share of the market in 2017. The use of yeast in the leavening agent for expanding the dough used in bakery products is expected to augur well for the yeast market growth. On the other hand, the bioethanol yeast is touted to exhibit a CAGR close to 10% during the assessment period. This can be credited to the growing use of bioethanol as a fuel in vehicles. The attempt to reduce carbon emissions can boost the growth of the segment and create opportunities for the yeast market.
On the basis of Form, the global market is segmented into dry, fresh, instant, and others. The dry yeast segment held more than 31% share of the global Yeast Market in 2016. On the other hand, the instant segment is estimated to display a strong CAGR over the forecast period.
On the basis of Application, the global Yeast Market is segmented into foods, beverages, feeds, and others. Foods are the biggest market application with its prolific use in bakery products such as cakes and pastries. It can continue to dominate the market till 2023. On the other hand, the feed segment can display 9.40% CAGR over the assessment period thanks to its use in animal feed.
Browse the market data and information spread across 162 pages with 89 data tables and 21 figures of the report “Yeast Market Report - Forecast 2018-2023” in-depth alongside table of content (TOC) at:https://www.marketresearchfuture.com/reports/yeast-market-5543
Regional Analysis:
Europe was the dominant consumer in the global yeast market in 2016 and is likely to retain a leading role throughout the forecast period due to the growing consumption of bakery products and fermented alcoholic beverages in the region.
The North America market is projected to thrive due to the leaning interest of yeast in microbreweries. Yeast has the capacity of turning sugars into alcohols and mainly responsible for creating distinct flavors. Research and development into yeast strains is expected to bode well for the market growth. For instance, the University of Wisconsin has discovered a wild yeast strain with a brewer yeast to create a lager yeast strain which can tolerate cold temperatures. This can be revolutionary for the microbrewery industry and lead to higher footfall among customers.
The Asia Pacific (APAC) region is expected to foster massive demand thanks to demand in the food and beverage sector in South Korea, Australia, Japan, India, and China.
Browse Related Reports:
Yeast and Yeast Extracts Market Information by Type (Bakers, Brewers, Wine,), Form (Dry Yeast, Instant Yeast and Fresh Yeast) and Yeast extracts by Product Type (Yeast Autolysates, Yeast Beta-Glucan, Yeast Derivatives) and Applications (Food and Beverages, Animal Feed, Pharmaceuticals Industry and Intermediary Suppliers) - Forecast to 2027
https://www.marketresearchfuture.com/reports/yeast-and-yeast-extracts-market-1025
Feed Yeast Market Research Report Information by Type (Live Yeast, Spent Yeast), Form (Dry, Liquid), Livestock (Poultry, Swine, Ruminants, Aquatic) and Region (North America, Europe, Asia Pacific, & RoW)– Forecast till 2023
https://www.marketresearchfuture.com/reports/feed-yeast-market-5196
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