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Global Yeast Market Size was valued at USD 4.6 Billion in 2022. The Yeast market Type is projected to grow from USD 5.4 Billion in 2023 to USD 10.4 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.88% during the forecast period (2023 - 2032). Growing recognition of the nutritional benefits of yeast as well as all-natural food additives, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
As baking goods like bread, cakes, biscuits, cookies, etc. become more and more popular worldwide, the need for yeast products is increasing. The popularity of baking and confectionery, expanding food and beverage purchasing power, packaged food consumption, and changing consumer habits are the main factors driving the worldwide yeast industry. Yeast converts sugar into energy, biomass, and carbon dioxide when oxygen is present. Because it is a rich source of vitamins and other dietary components, yeast can be used widely in the production of bread, cheese, vinegar, sourdoughs, fermented food products, and vegetables. Additionally, the demand for nutritional yeast from the expanding vegan community is generating income for market participants.
The growing use of yeast in the fermentation process used to create various alcoholic beverages is what is driving the demand for yeast. The expanding trend of alcohol consumption during social gatherings and parties, which includes drinking beer, wine, rum, vodka, and other alcoholic beverages, may be advantageous for global yeast makers. Yeast can enhance the taste, texture, aroma, and all other aspects of beverages. Yeast is also essential for quickening the fermentation process.
Sales of both organic and conventional yeast have surged as a result of the terrifying coronavirus outbreak, assisting product producers in starting their own businesses and challenging market leaders. Coronavirus spread presents market participants with appealing opportunities. Increased physical distribution channels, such as convenience stores, specialized stores, hypermarkets/supermarkets, and online distribution channels that are growing swiftly, all help to improve sales of yeast. In order to suit customers' nutritional needs, producers in the worldwide yeast industry are focusing on providing organic yeast to consumers. Thus, driving the Yeast market revenue.
The global Yeast market segmentation, based on Type, includes baker's yeast, brewer's yeast, wine yeast, feed yeast, bioethanol yeast, and others. During the forecast period, the baker's yeast segment is expected to rule the market. This is a result of baker's yeast's low cost and broad range of uses in sectors like food and feed. The development of the bakery yeast market is anticipated to be fueled by the rising consumption of bakery goods, particularly bread, in developed regions. Therefore, throughout the projection period, rising bakery product consumption, particularly bread consumption, contributes to market growth in the baker's yeast segment.
The global Yeast market segmentation, based on Form, includes instant, fresh, and others. Fresh segment accounted for a major revenue share in 2022. Fresh yeast, also known as cake yeast and compressed yeast, is the only kind of commercial yeast that has not been dried out. Fresh yeast has a consistency that falls between modeling clay and paste and is a rubbery blend of water and yeast. This sort of yeast must be refrigerated due to its high moisture content and can only be kept in storage for two weeks under optimal conditions. The yeast may become unusable if it grows white tufts of mold in a dirty or extremely humid container.
The global Yeast market segmentation, based on Application, includes food, beverage, feed, and others. The food industry is predicted to expand quickly in the future years as a result of expanding demand for clean-label and free-from products, naturally-extracted component consumption, and high bakery product consumption. Alcoholic and nonalcoholic beverages, dietary supplements, canned and frozen foods, baked goods, snacks, and savory entrees can all contain yeast. Bread, deep-fried dough sticks, and rice products that have been fermented by yeast.
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Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. North America accounted for the largest revenue share in 2022. Rising R&D activities, the development of the application range for food additives and ingredients, and the region's exploding need for nutrient-dense food in the United States are all aspects driving the market's revenue growth. Further, In the North American area, the U.S. Yeast market had the biggest market share, while the Canada Yeast market had the quickest rate of expansion.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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During the anticipated term, a respectable growth rate is anticipated for the European Yeast market. In Europe, the sector is represented by a group of yeast manufacturers called Cofalec. One million tonnes of yeast are produced annually in the European Union by 33 businesses, with more than 30% of that output travelling beyond the continent. Further, In the European region, the German Yeast market had the biggest market share, and the U.K. Yeast market had the quickest rate of growth.
Asia-Pacific The market for yeast is anticipated to develop the fastest. The demand for dietary supplements in this region is rising significantly as older consumers make an effort to cut back on their out-of-pocket medical costs. In order to live longer and ward off illnesses, consumers are adopting healthier lifestyles in greater numbers. Organic yeast has flourished as a result since it is a high-end nutritional supplement that contains vitamins, minerals, and proteins that help to increase immunity. Further, In the Asia-Pacific region, the Indian Yeast market had the quickest rate of growth while China's Yeast market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Yeast market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Yeast sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Yeast industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Yeast sector. Major players in the Yeast market, including Associated British Foods PLC, Hansen AS, Angel Yeast, Lallemand Inc., Lesaffre, Leiber GmbH, Novozymes, Koninklijke DSM N.V., Kerry Group PLC, Synergy Flavors, Kothari Fermentation and Biochem Ltd., Omega Yeast Labs LLC, Pak Group, Oriental Yeast Co. Ltd., and BSG Craft Brewing, are attempting to increase market demand by investing in research and development operations.
Novozymes AS (Novozymes), a biotechnology company, creates and markets industrial enzymes and microorganisms. The company sells enzymes for the detergent, feed, technical, and food industries. It provides a range of microorganisms for use in agriculture, wastewater treatment, and industrial cleaning processes in addition to bio-innovative CO2 emission reduction techniques. Additionally, Novozymes' chemicals are utilized in laundry detergents, professional cleaning solutions, hand and automatic dishwashing soaps, and laundry detergents. It manages R&D, production, sales, and marketing operations through its subsidiaries. The company has operational presences across Europe, the Middle East, Africa, Latin America, and the Asia-Pacific area. Denmark's Bagsvaerd serves as Novozymes' corporate headquarters. Novozymes released Innova Fit, a non-GM yeast technology, in February 2020. The company claims that it addresses the issues that traditional and fundamental yeast-based biofuel production runs into.
Angel Yeast Co Ltd (Angel Yeast) manufactures and provides yeast and yeast derivatives. The company sells a variety of products, including functional food additives, baking powder, probiotic drops, and baker's yeast. It also offers distilled spirits, biofuels, food, medical supplies, plant and animal nutrition items, and yeast extract (YE). The company also offers YEs and enzymes for sale. The company's flagship brands include Eagle, Bakerdream, Angel, Gloripan, and Fubon. The company maintains a network of technical centers, YE facilities, and yeast manufacturing facilities through which it conducts business in China, Egypt, Singapore, and Russia. Angel Yeast's corporate office is located in Yichang, Hebei, China. The business unveiled a natural flavor-improving solution for plant-based meals and beverages in December 2019 to broaden its selection in Europe.
· Associated British Foods PLC
· Hansen AS
· Angel Yeast
· Lallemand Inc.
· Lesaffre
· Leiber GmbH
· Novozymes
· Koninklijke DSM N.V.
· Kerry Group PLC
· Synergy Flavors
· Kothari Fermentation and Biochem Ltd.
· Omega Yeast Labs LLC
· Pak Group
· Oriental Yeast Co. Ltd.
· BSG Craft Brewing
July 2022: In Passau, Germany, Lallemand Inc. opened a brand-new facility for the manufacture of specialty yeast. Thanks to this new site, the business was able to broaden its global scope and better serve its European customers.
January 2020: The Lesaffre Group constructed a new baking facility in Abidjan, West Africa, for its subsidiary, Lesaffre Ivoire, to provide cutting-edge bread-making solutions. With this new facility, the company will be able to better service its clients in West Africa, boost production, and extend its geographic reach.
· Baker's Yeast
· Brewer's Yeast
· Wine Yeast
· Feed Yeast
· Bioethanol Yeast
· Others
· Instant
· Fresh
· Others
· Food
· Beverage
· Feed
· Others
· North America
- U.S.
- Canada
· Europe
- Germany
- France
- U.K
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
Report Scope
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 4.6 Billion |
|
Market Size 2023 |
USD 5.4 Billion |
|
Market Size 2032 |
USD 10.4 Billion |
|
Compound Annual Growth Rate (CAGR) |
8.88% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Type, Form, Application, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Associated British Foods PLC, Hansen AS, Angel Yeast, Lallemand Inc., Lesaffre, Leiber GmbH, Novozymes, Koninklijke DSM N.V., Kerry Group PLC, Synergy Flavors, Kothari Fermentation and Biochem Ltd., Omega Yeast Labs LLC, Pak Group, Oriental Yeast Co. Ltd., and BSG Craft Brewing |
|
|
Key Market Opportunities |
· High Inclination Towards Convenience Foods In Emerging Economies |
|
Key Market Dynamics |
· Increasing demand for natural food additives and nutritional benefits of yeast |
The global Yeast Market was valued at USD 4.6 billion in 2022, and it is estimated to reach USD 10.4 billion by 2032.
The global market is projected to grow at a CAGR of 8.88% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Associated British Foods PLC, Hansen AS, Angel Yeast, Lallemand Inc., Lesaffre, Leiber GmbH, Novozymes, Koninklijke DSM N.V., Kerry Group PLC, Synergy Flavors, Kothari Fermentation and Biochem Ltd., Omega Yeast Labs LLC, Pak Group, Oriental Yeast Co. Ltd., and BSG Craft Brewing.
The Baker's Yeast Type dominated the market in 2022.
The Fresh Form had the largest share in the global market.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65234
Published on :
Sep 2023
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