Yeast Market - Forecast(2024 - 2030)
Yeast Market Overview
Yeast Market size is estimated to be $10.70 billion in 2030, growing at a CAGR of 4.0% during the forecast period 2024-2030. Yeasts are unicellular organisms which are evolved from multicellular ancestors. Yeast sizes vary greatly depending on species and environment typically measuring 3-4mm in diameter. Yeasts are chemo organotropism, as they use organic compounds as a source of energy, they do not require sunlight to grow. Yeast species either require oxygen or aerobic cellular respiration or are often isolated from sugar-rich materials. They include naturally occurring yeasts on the skins of fruits and berries. Some yeasts are associated with soil and insects. Yeast can selectively utilize paraffin in the oil as a carbon source to reduce the paraffin content in the oil product reduce the solidifying point and improve the oil fluidity at low temperatures. Yeast products can beneficially modify microbial activities, fermentation, and digestive functions in the rumen aiding growth in the market. Additionally, the yeast market is witnessing a growing demand for natural and clean-label ingredients, prompting yeast producers to focus on organic and non-GMO yeast strains to meet consumer preferences for healthier products. Secondly, there's a significant surge in the adoption of yeast in the production of alternative proteins, including plant-based meats and dairy substitutes, as yeast extracts enhance flavor and nutritional profiles. These trends reflect a shift towards healthier and sustainable food choices, driving innovation and expansion within the yeast market to cater to evolving consumer needs and preferences.
Market Snapshot:
Report Coverage
The report: “Yeast Market – Forecast (2024-2030)”, by IndustryARC covers an in-depth analysis of the following segments of the Yeast Market.?
By Form: Liquid Yeast, Fresh Yeast, Crumbled Yeast, Active Dry Yeast, Instant Dry Yeast, Frozen Semi Dry Yeast, Genetically Modified Yeast and Others.
By Application: Food – Alcoholic Beverages - Brewing and Wine Making, Non-Alcoholic Beverages, Nutritional Supplements, Canned and Frozen Foods, Bakery/Snacks & Savory, Pharmaceuticals, Bio Fuels, Animal Feed and Others.
By Geography: North America, Europe, Asia-Pacific and Rest of the World.
Key Takeaways
By Application - Segment Analysis
In 2023, Food segment dominated the Yeast Market in terms of revenue is estimated to grow at a CAGR of 3.8% owing towards rising consumption of naturally-extracted ingredients with the increasing demand for clean-label and free-from products is projected to drive the growth of the yeast market in the food industry.? Yeast has wide applications in food including alcoholic and non-alcoholic beverages, nutritional supplements, canned and frozen foods, bakery, snacks and savory products. Various yeast fermented foods include bread, deep-fried dough sticks and fermented rice products. Yeast is an ideal nutrition source for human beings and its nutritional characteristics include low fat, low sugar and low calorie and high-quality protein, high-quality B vitamins, high-quality minerals and high-quality dietary fiber. Yeast is an ideal health food without cholesterol that conforms to the modern human dietary structure abetting towards the growth of the market.
By Geography - Segment Analysis
In 2023, the Europe region dominated Yeast Market in terms of revenue with a market share of 36% owing towards increase in the disposable income and inception of weekend culture in most parts of the Europe and increasing demand for investment in R&D. The amount of revenue generated through the sales of yogurt and sour milk products in Germany has increased by more than 2% in the past four years which presents exciting opportunities for the growth of yeast market. Government has taken initiatives to promote technological advancements in this region and also, European countries have a culture of drinking wine with dinner are key factors in the growth of the Yeast market. North America is projected to record the fastest growth rate during the forecast period 2024-2030.??
Drivers – Yeast Market
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Growing preference for ethnic food coupled with the success of Thai and Mexican food in restaurants has resulted in increased demand of yeast. Changing food consumption habits and pattern of people, drive the growth of bakery industry and in turn the growth of yeast demand. Demand for bakery products is increasing as they are an essential content of many fast-food items and people now increasingly prefer convenience products over traditional food items. The demand for convenience in food products has led to an increased demand for ready-to-eat food products, such as ready to consume soups and noodles, which have high amounts of yeast content in them.
Challenges – Yeast Market
Stringent regulations imposed by regulatory bodies and government in various countries is hindering the market for products made from yeast, thus restraining the Yeast market. Also, unavailability of suitable raw materials required in the production of varied range of yeast types hampers the industry growth. Further, shortage of raw material is forecast to create supply-demand imbalances which restrain the growth of the market.?
The burgeoning global emphasis on reducing reliance on fossil fuels has spurred a notable surge in biofuel production. Yeast, crucial in ethanol fermentation, stands at the forefront of this expansion, witnessing soaring demand. Governments worldwide are instituting policies to incentivize the adoption of renewable energy sources, propelling the biofuel market forward. As a result, the reliance on yeast as a catalyst in ethanol production is escalating in tandem with the burgeoning demand for biofuels.
Yeast Industry Outlook?
Product Launches, Merger & Acquisition, joint ventures, and R&D activities are key strategies adopted by the players in the Yeast Industry. Yeast top 10 companies include Angel Yeast Co., Associated British Foods PLC, Lallemand Inc., Chr. Hansen Holdings A/S, Oriental Yeast Co., Ltd., Lesaffre Group, Synergy Flavors, Halcyon Proteins Pvy. Ltd., Novozymes, Food Chem International, among others
Recent Developments:
June 2022, Angel Yeast, responding to increasing demand for yeast-based products, announces plans to enhance supply and innovation capabilities. This aligns with insights from Innova Market Insights, highlighting the need for industry players to innovate and expand production to meet evolving consumer needs and stay competitive.
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