According to the current analysis of Reports and Data, the global Specialty Yeast Market was valued at USD 2439.7 Million in 2018 and is expected to reach USD 4318.3 Million by the year 2026, at a CAGR of 7.4%. Specialty yeasts are used for producing alcoholic beverages, ethanol production, baking, bioremediation, nutritional supplements, genetically engineered biofactories, and aquarium hobbies.
Extensive application of the specialty yeast in sauces, snacks, ready to eat meat, bakery items, functional diets, owing to the massive consciousness about its nutritional advantages will drive the market growth. They are becoming more popular, mainly due to the cost-cutting culinary and functional constituents. Moreover, extensive use of the product in the convenience food & beverage industry, as well as its use in the non-food sectors, will boost the market growth. With the rapidly changing lifestyles, urbanization, and growing convenience food industry, the demand is likely to accelerate during the forecast years. In addition to this, customer inclination for natural and organic food and escalating demand for beer and alcoholic beverages due to their large-scale consumption in both developing as well as developed countries will result in massive product penetration. Additionally, heavy customer inclination for natural or organic foods is expected to increase the market demand over the forecasted period. Increasing demand for beer and wine due to its large-scale intake in both developing as well as developed countries will not only result in massive product penetration across the alcoholic beverages sector but will also bulge the market earnings.
The food & beverage industry in the Asia Pacific region is growing due to factors such as the growing demand for dairy products such as cheese and yogurt along with the growth in the market for plant-based alternatives and traditional fermented products. The major trends witnessed in the Asia Pacific region include increasing awareness about health & wellness and the growing demand for products that are natural, pure, and fresh, due to which fermented flavors such as kimchi and kombucha are gaining popularity.
The growing demand from food, beverage, and pharmaceutical industries, along with increasing consumer demand for natural and Safe Products, drive the growth of specialty yeast market.
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Further key findings from the report suggest
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For the purpose of this report, Reports and Data has segmented the Specialty Yeast market on the basis of type, species, application and region:
Type (Revenue, USD Million; 2016–2026)
Species (Revenue, USD Million; 2016–2026)
Application (Revenue, USD Million; 2016–2026)
Regional Outlook (Revenue in USD Million; 2016–2026)
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Key highlights of the Global Specialty Yeast Market Report: