The global yeast market accounted for USD 2.9 billion in 2019. The global yeast market is projected to witness growth at a CAGR of 6.6% during the forecast period.
COVID-19 has impacted all the businesses over the globe. Corona virus outbreak has impacted yeast market negatively as the production was halted due to lockdown. The demand of consumers was also low. Consumers have stopped using products as they have stopped eating outside food. Thus yeast market has is expected to see some decline in the initial phase of forecast period.
For more details, visit: Global Yeast Market By Type (Baker’s Yeast, Brewer’s Yeast, others), By Form (Instant Yeast, Active Dry Yeast, Others), By Application (Food, Feed), By Region–Forecast & Opportunities to 2026
Yeast is the most versatile microorganisms. It is used for the purpose of production of beverages and food products. Thus, there is huge demand of yeast among the food and beverages market. This is the major driver factor of yeast market.
On the basis of type, the yeast market is segmented into baker’s yeast, brewer’s yeast, wine yeast, probiotic yeast and others. The baker’s yeast segmented is expected to register growth at highest CAGR during forecast period. The baker’s yeast has wide application in the food & feed industries and it is cost-effective. The consumption of bakery products has been increasing worldwide. Thus, boosts this segment in yeast market during forecast period.
Based on the form, the yeast market is segmented into instant yeast, active dry yeast, fresh yeast and others. The fresh yeast segment is projected to register growth at highest CAGR during the forecast period. The bakery industries used fresh yeast at large scale for production. The increasing demand and consumption of bakery products has driven growth in this segment during the forecast period.
On the basis of application, the yeast market is segmented into food and feed. The food segment is expected to register growth at highest CAGR during the forecast period. The consumption of bakery products has been increasing worldwide along with consumption of naturally-extracted ingredients. The people are demanding more and more bakery products which require yeast for their production. The demand for free-form products and clean-label has been rising. This is likely to drive growth in food segment in yeast market during the forecast period.
Europe region accounted for maximum market share in 2019. It is projected to register growth at highest CAGR during the forecast period. The bakery industries and processed food market is growing rapidly in Europe region because of change in lifestyle of consumers. The income level of population in this region is increasing. The alcohol consumption is also rising in this region which involves use of yeast in its production. This factor drives the growth in European region for yeast market during the forecast period.
The key market players in yeast industries are Associated British Foods, koninklijke DSM N.V., Alltech, Kerry Group PLC, Angel Yeast Co., Sensient technologies, lallemand Inc., Lieber GmbH, Chr. Hansn Holdings A/S, Oriental Yeast, Lesaffre Group, Synergy Flavors, Novozymes, Halcyon proteins Pvy Ltd., Food Chem International and Pacific Fermentation Industries.
- What are the expected industry trends over the next three to five years?
- Which of the yeast type is likely to lead by 2025?
- Which of the application segments is expected to have the maximum potential to during the forecast period?
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- What are different organic and inorganic strategies implemented by companies to gain increased market share?