Press release
Global Yeast Market to exceed USD 4.86 Billion by 2021
Yeast is single-celled microbes identified under fungus kingdom and has approximately 1,500 species. Nutritional yeast is deactivated yeast which is used as nutritional supplements. Edible yeast is mainly used for fermentation. Yeast provides high aroma, puffiness, and great taste and improves food texture. Yeast is widely consumed food ingredients and also used extensively in the pharmaceutical sector.
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Yeast is the highly used in food, bioethanol, and processed food industries. Rising demand for the bakery products mainly drives the yeast market. Escalating production of bio-ethanol fuels which utilize the yeast for production supports the growth of yeast market. Furthermore, increasing usage of specialty yeast in the processed food industry along with tremendously growing breweries and wine industry spurs the growth of the yeast market. However, limited shelf life of the yeast-based products and some of the allergies may hamper the growth of the market. Moreover, regulations led by the government for the use of specialty yeast due to the high content of MSG is probably to impede the growth of yeast market. Nevertheless, ongoing research for the untapped use of yeast in the different industry along with innovations in processed food industry offers ample opportunities for the growth of yeast market.
The yeast market can be segmented on the basis of form which includes instant yeast, fresh yeast, and dry yeast. Fresh yeast is the leading segment and gaining demand due to high usage in the bakery for preparing bread. This is mainly due to high rising property and great taste. There are different types of yeast such as brewers, bakers, bio-ethanol, wine, feed and other types. Bakers and brewers are the potential market segments owing to the huge demand of yeast in these industrial sectors. Also, wine and feed are expected to show elevated growth in the forecast period.
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The products derived from natural food yeast with high nutrition, health and taste are known as specialty yeast. Yeast autolysis, yeast extract, and ß-glucan are some of the key specialty yeast. Yeast extract is the leading segment and is used as flavor enhancers in the food industry. Food and feed are major applications for the yeast market. The food industry is the dominant market segment due to huge consumption of yeast in the bakeries, breweries, and wine industry.
North America dominated the yeast market in 2015 owing to the high use of yeast in processed and bakery. Also, consumption of yeast in wine and brewery industry fuels the yeast market. However, saturation of yeast industry is likely to affect the growth of the market in forecast period in these regions. Asia Pacific is considered to grow at fastest pace and continues to gain traction in the coming years. This is mainly attributed to the rapidly growing bakery and wine industry. Moreover, rising disposable income along with high attraction for fast and processed food stimulates the growth of yeast market in this region.
Latin America is anticipated to show high growth prospects in coming years owing to growing breweries industry in Brazil and increasing demand for bakery products. The Middle East and Africa is projected to experience decent growth due to abundant raw material resources coupled with rising living standards and surging disposable income.
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Some of the major players in the yeast market are AngelYeast Co., Ltd, Koninklijke DSM N.V., Cargill Incorporated, Synergy Flavors, Leiber GmbH, Chr. Hansen Holding A/S, Associated British Foods plc, Bio Springer S.A, Lallemand Inc., Oriental Yeast Co., Ltd., Dsm N.V., Alltech and Lesaffre Group among others. Associated British Foods plc and Lesaffre Group are considered to be the most prominent players in the yeast market. The presence of multiple players in the market causes price competitiveness, forcing companies to focus on R&D for innovative and cost effective products.
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