Yeast Market Overview:
The Yeast Market Size is expected to reach a value of USD 8.67 Billion over the forecast period ending in 2030, at a CAGR of 8.78%.
Yeast Market Scenario:
Yeasts are commonly used for the fermentation process in various industries. The bakery industry is a pioneer in the use of yeast as an essential factor. Bakery products are in high demand worldwide, such as breads, rye breads, whole wheat bread, buns, white breads, brown breads, and many others. Over the analysis period, these dominant variables are influencing the market.
The growth in the Yeast Market Type in the coming years will be driven by higher demand from downstream markets and higher supply of different products during the fermentation period. In addition, demand for yeast would also be driven by increased acceptance of biofuels. In addition, the nutritional benefits of yeast have had a positive effect on the global development of the yeast market, and with customer understanding of the health benefits of the product growing, demand for the product is expected to increase during the prognosis period.
Increased demand across several sectors, including dairy, drinks, animal feed, and others, will continue to boost the market for yeast and yeast extracts in the next decade.
Yeast Market Segmental Analysis:
Baker's yeast, brewer's yeast, wine yeast, feed yeast, bioethanol yeast, and others are part of the type of section. Among the forms, in 2017, the baker's yeast is expected to account for the major market share of 44.24 percent. During the forecast period of 2017-2023, however, bioethanol yeast is expected to be the fastest growing market.
The yeast market is segmented into dried, instant, raw, and others, depending on the shape. Among them, with a substantial market share of 31.64 percent in the year 2019, the dry sector is dominant. However, during the forecast period, the instant segment is expected to undergo a healthy growth.
The market is segmented into snacks, drinks, feeds, and others, based on the use. With a market share of 44.41 per cent in 2017, the food segment is dominant. However, during the forecast period, the feed segment is projected to be the fastest growing segment.
Top Key Players:
Some of the key players profiled in the global Yeast Based Probiotic market are Associated British Foods PLC (U.K), Angel Yeast (China), Lallemand Inc. (Canada), Lesaffre (France), Leiber GmbH (Germany), Novozymes (Denmark), Chr. Hansen A S (Denmark), Koninklijke DSM N.V. (The Netherlands), Kerry Group PLC (Ireland), Omega Yeast Labs, LLC (U.S.), Synergy Flavors (U.S.), Pak Group (U.S.), Kothari Fermentation and Biochem Ltd. (India), Oriental Yeast Co., Ltd. (Japan), BSG CraftBrewing (U.S.)
Regional Analysis:
Europe, with over 33.02 percent of the global Yeast Based Probiotic market share, leads the yeast market among the regions and is estimated to hit more than USD 5398.5 million by 2023. In Europe, Germany is projected to rise at the fastest rate, followed over the estimated timeframe by France and the U.K. The largest use of yeast ingredients in the bakery and beer industry in the world has contributed to the massive concentration of bakery products and their high demand.
In comparison, over the 2022-2030 projection period, North America is expected to have the fastest growth rate. The U.S. leads the industry and is projected to develop at the fastest growth rate due to rising food ingredient technology and innovation and increasing demand, along with growing emerging industries and people's lifestyle with the promising growth trend is increasing the growth of the market.
In Asia-Pacific, China dominates because of the country's growing demand for bioethanol as a fuel and increasing demand for baking goods and snack foods.
Recent Developments:
In Passau, Germany, Lallemand Inc. opened a new specialty yeast manufacturing facility. This new location allowed the company to better service its European customers, enhance its manufacturing capacity, and broaden its geographic reach.
Lesaffre Group opened a new baking center in Abidjan, West Africa, for its subsidiary, Lesaffre Ivoire, to provide innovative bread-making solutions. This new location will allow the company to better service its West African customers, boost manufacturing capacity, and expand its geographic reach.
In Europe, AngelYeast Co., Ltd. introduced a new natural flavor-enhancer for plant-based meals and beverages. This product introduction will aid the company in strengthening its portfolio and expanding its European consumer base.
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