Yeast is a unicellular fungus used in a number of applications across the food and beverage and healthcare sectors. There are a number of varieties of yeast in use in the global yeast market, with the Ascomycete yeast being used in applications such as bread making, beer making, wine making, etc. and Saccharomyces yeast being used in a number of industries. Growing use in the food and beverage industry is likely to be the major driver for the global yeast market, as the demand for bakery products such as bread and alcoholic beverages such as beer has grown rapidly over the last few years, in line with the growing disposable income of the consumers in developed as well as developing regions across the world.
Yeast Market Scenario and Key Restraints:
The global yeast market is expected to exhibit a CAGR of 8.86% over the forecast period from 2017 to 2023, reaching a valuation of USD 5,398.5 million, according to a new research report from Market Research Future (MRFR). The global yeast market is studied in comprehensive detail in the report, which provides markers for the market’s likely progress over the forecast period as well as information about the leading segments and key players within the market.
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This is likely to be the major driver for the global yeast market over the forecast period, as urban centers in the developing world as well as developed countries have become major markets for bread-based products as well as beer.
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Yeast Market Competitive Analysis:
Leading players in the global COVID-19 analysis on yeast market report include Associated British Foods plc, Angel Yeast, Lesaffre, Novozymes, Kerry Group plc, Kothari Fermentation and Biochem Ltd., Pak Group, BSG CraftBrewing, Oriental Yeast Co. Ltd., Omega Yeast Labs LLC, Synergy Flavors, Koninklijke DSM NV, Leiber GmbH, Lallemand Inc., and Chr. Hansen AS.
Yeast Market Segmentation:
The Global yeast market size is segmented on the basis of type, form, application, and region.
On the basis of type, the global yeast industry is segmented into baker’s yeast, brewer’s yeast, feed yeast, wine yeast, bioethanol yeast, and others. Baker’s yeast is likely to dominate the global yeast market over the forecast period due to the widespread use of yeast in bakery products. In spite of the growing applications of yeast in other, industrial applications, the traditional role of yeast remains in breadmaking, which is reflected in the global yeast market, wherein baker’s yeast accounted for more than 44% of the global yeast market in 2016. Bioethanol yeast is also likely to be a major segment of the global yeast market over the forecast period due to the growing government support for bioethanol production and use. The segment is likely to exhibit a rapid 9.97% CAGR over the forecast period.
On the basis of form, the global yeast market is segmented into fresh, instant, dry, and others. Dry yeast is likely to dominate the global yeast market over the forecast period with instant yeast experiencing growth at the highest rate. Dry yeast accounted for more than 31% of the global yeast market in 2016.
On the basis of application, the global yeast market is segmented into foods, beverages, feeds, and others. Foods dominate the global yeast market at present thanks to the widespread popularity of bakery products and the consequent rise in the demand for yeast all over the world. However, the feed segment is likely to exhibit the highest growth rate over the forecast period, with the segment expected to exhibit a 9.40% CAGR over the forecast period.
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 region accounted for more than 33% of the global yeast market in 2016. North America is also likely to make rapid progress in the global yeast market thanks to the growing demand for yeast in traditional breadmaking and beer making applications as well as industrial and healthcare research
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