Yeast Market size is estimated to be $6,952m in 2019, growing at a CAGR of 4.0% during the forecast period 2020-2025. 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 carbon source so as to reduce the paraffin content in the oil product and reduces the solidifying point and improve the oil fluidity at low temperatures. Yeast products can beneficially modify microbial activities, fermentation and digestive functions in rumen aiding growth towards the market.
By Application – Segment Analysis
In 2019, 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.
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By Geography – Segment Analysis
In 2019, the Europe region dominated Yeast Market in terms of revenue with a market share of 3.6% 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 2020-2025.
Drivers – Yeast Market
Increasing Demand for Ready-to- Eat Food Products
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.
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Challenges – Yeast Market
Stringent Food Safety Regulations
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.
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., Lallemand Inc., Lesaffre Group, Associated British Foods plc, CHR Hansen group, Alltech, Leiber Group, Levapan Group, Oriental Yeast Co. and Biomin.
In June 2020, Lesaffre group acquired a majority shareholding in Biohymn Biotechnology, a Chinese company specialized in the production of yeast and yeast extracts to expand its business.
In July 2019, Lallemand entered into a long-term global partnership with ICC Brazil for the research, development and supply of inactive yeast products and fractions derived from sugar cane ethanol.
In October 2018, Angel Yeast Company launched the new premium baking yeast, which provided better performance in cold water resistance, wide sugar content and heavy oil resistance during the most renowned food exhibition in the world, SIAL, which attracted more than 7,000 exhibitors from 192 countries.
The increasing consumption of processed food and growing demand for nutritional yeast is likely to be the major driving factor for the market’s growth.
The rising demand of functional bakery products, positive trend in alcoholic beverage consumption and improved production of animal feed is adding towards the market’s growth.
The growing industrialization and raising awareness about yeast is set to propel the growth of the market in the developing countries.
North America region is estimated to record the fastest growth rate during the forecast period 2020-2025.
Related Reports :
A. Yeast Ingredients Market
B. Yeast Extracts Market
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