Yeast Market Research Future Insights
The global Yeast market is expected to register a CAGR of 8.78 % from 2022 to 2030 and hold a value of over USD 8.67 Billion by 2030.
Yeast belongs to the fungus kingdom and is classified as a single-celled eukaryotic creature. Autolysates and yeast extracts are two types of specialized yeast. Yeast and yeast extract is commonly used in baked goods, nutritional supplements, and probiotics. Brewer's yeast is used in the manufacturing of ethanol, baked goods, and antibiotics, among other things. The yeast is also used in the fermentation of alcoholic drinks, where Saccharomyces cerevisiae spices can be detected. The outbreak of COVID-19 has undeniably harmed the food and beverage industries, as well as the yeast market size, causing the temporary closure of many manufacturing facilities and a significant drop in demand. However, many companies are taking measures to prevent any future income losses, by nurturing their supply chains and speeding up their operations with the primary goal of containing the spread of covid. Additionally, as countries gradually begin lifting lockdown restrictions, there is hope that the market will make a speedy recovery.
Key Players
Some of the key market players are Associated British Foods PLC (U.K), Hansen A S (Denmark), Angel Yeast (China), Lallemand Inc. (Canada), Lesaffre (France), Leiber GmbH (Germany), Novozymes (Denmark), Koninklijke DSM N.V. (The Netherlands), Kerry Group PLC (Ireland), Synergy Flavors (U.S.), Kothari Fermentation and Biochem Ltd. (India), Omega Yeast Labs LLC (U.S.), Pak Group (U.S.), Oriental Yeast Co. Ltd. (Japan), BSG Craft Brewing (U.S.).
Market Segmentation
The Yeast market overview has been segmented into type, application, and forms.
Based on type, the market has been segmented into Bioethanol yeast, Brewer’s yeast, Baker’s yeast, Feed yeast, Wine yeast, and Others. Baker's yeast is most commonly used in baking, where it causes fermentation in the dough which results in softer, fluffier baked goods such as burger buns, pizza bases, cracker biscuits, sweet bread, and various types of bread.
Based on application, the market has been segmented into Animal Feed, Beverages, Foods, and Others. The food and beverage segment is expected to generate significant revenue growth over the forecast period. Among other yeast species, Saccharomyces has a more favorable impact on food and beverage fermentation due to their genetic diversity. Different species can be employed for various applications.
Based on forms, the market has been segmented into Fresh, Instant, Dry, and Others. The dry yeast segment is expected to see significant revenue growth over the forecast period. Dry yeast is the dehydrated form of baker’s yeast that does not require refrigeration and has various benefits such as long shelf life, low production cost, and easy storage.
Regional Analysis
Europe continues to lead the global market for yeast due to the high consumption of processed foods and alcohol. In several European countries, the high consumption of bread, cakes, alcoholic beverages, and pastries remains the primary reason for the high demand for yeast. North America is expected to see the most improvement, with the United States remaining the region's biggest revenue-generating market. The United States is primarily a large producer of biodiesel and ethanol fuel, with corn serving as the principal feedstock. The country is also a leading producer of advanced biofuels.
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