The Market for Yeast is Growing Globally due to Increasing Demand for Bakery Products

The global yeast market size is estimated to be valued at USD 3.9 billion in 2020 and is projected to reach USD 6.1 billion by 2025, recording a CAGR of 9.6%. The market for yeast is growing globally due to the increase in demand for bakery products, the trend of buying alcoholic beverages worldwide, and global demand for bioethanol as a fuel.

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The fresh segment is projected to witness significant growth during the forecast period

Based on form, the yeast market is segmented into active, instant, and fresh. The fresh segment is projected to witness significant growth during the forecast period. Fresh yeast is majorly used in the production of bakery & confectionery products in the food industry. As it is a naturally- extracted food additive and a rich source of proteins, vitamins, and minerals, fresh yeast makes a perfect ingredient for bakery food products. The segment also accounted for a significant share in the global yeast market in 2019.

The food segment is projected to hold a major share in the yeast market during the forecast period

Based on applications, the yeast market is segmented into food, feed, and other applications. The food segment is estimated to account for a larger share in the yeast market due to the growing usage of yeast in the bakery industry to produce fresh and high-quality products. Yeast is increasingly used in the food industry as a baking ingredient, flavorings, and seasoning agents. Since the demand for processed & baked food and non-carbonated beverages is increasing due to the changing lifestyle of consumers, the growth of the yeast market is projected to remain high.

The Asia Pacific region is projected to witness the fastest growth during the forecast period

The Asia Pacific yeast market is projected to witness the fastest growth in the coming years. The large consumer base and increasing disposable incomes in India and China are factors that are projected to drive the demand for convenience & bakery food products with enhanced flavors. In addition, China and Japan are manufacturing hubs for yeast with increased concentration of manufacturers in these countries that focus on catering to the demand for yeast-based food & feed products. The rapid urbanization in countries, such as India and China, is a key factor that is projected to drive the growth of the yeast market in Southeast Asia during the forecast period.

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Key players are Angel Yeast Co. Ltd. (China), Associated British Foods PLC (UK), DSM N.V. (Netherlands), Kerry Group PLC (Ireland), Alltech (US), Lesaffre Group (France), Synergy Flavors (US), Sensient Technologies Corporation (US), Chr. Hansen Holdings A/S (Denmark), Lallemand Inc. (Canada), Leiber GmbH (Germany), Oriental Yeast Co., Ltd. (Japan), Halcyon Proteins (Australia), Food Chem International (China), ICC Brazil (Brazil), Biorigin (Brazil), Pacific Fermentation Industries (Canada) and Novozymes (Denmark).

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