Instant Dry Yeast: Growing Demand for Packaged Foods to Drive Demand
In addition, the production cost involved in making instant dry yeast is also relatively low as they are usually made form molasses, which is end-product of sugarcanes or in the sugar manufacturing plants. This makes it easily accessible at a much affordable rate. In addition to that, instant dry yeast is extensively used as food additives so as to help enhance the flavour, taste, and aroma of food products.
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For instance, due to the impeccable properties of instant dry yeast, it is essentially used in the production of beer to stabilize its colour and add more aroma to it. Moreover, this type of dry yeast has its applications in the preservation of packaged food and making non-alcoholic beverages.
There has been a significant surge in the number of working individuals across the globe, and hence they are incessantly engaged in following busy and hectic schedules. Thus, they increasingly tend to incline toward convenience or fast food, packaged food, and ready-to-eat food. These foods are specially created for convenient consumption such as refrigerated or frozen products, dry mixes, and shelf stable products, because they require minimal preparation. These factors are expected to drive the demand for instant dry yeast in the forthcoming years.
Moreover, increasing use of instant dry yeast in making bakery products such as buns, breads, cakes, and others, remarkable application of instant dry yeast in the pharmaceutical industry, and increase in the food consumption among people due to the growing population across the globe are anticipated to create tremendous opportunities for the growth of the global instant dry yeast market in the upcoming years. According to the report published by Allied Market Research, the global instant dry yeast market is predicted to reach $1.27 billion by 2030 registering a CAGR of 7.6% from 2021 to 2030.
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Numerous players of the market across the globe are launching new, innovative yeast-focussed brands and products to effectively cater the needs and demands of the people. For instance, Lallemand Baking, a Canada-based dominant yeast company engaged in providing baking ingredient solutions and yeast to bakers, introduced a new brand called Lal Ferm for fresh baker's yeast in North America.
This new brand will take over the packaging of the previous Eagle brand for all two and five lbs blocks and 50 lbs bags. The Eagle 50 lbs crumble yeast will be replaced by Lal Ferm 50 lbs packaging. Lal Ferm No2 two lbs gold packaging will replace the previous Eagle two lbs block yeast green box packaging. In addition, Lal Ferm No1 five lbs red packaging will replace the conventional Eagle five lbs block yeast red box packaging.
This packaging brand change does not have any impact on the performance and quality of the yeast. Besides, they provide quality bakers yeasts, and hence the product will offer customized yeast solutions for innumerable applications such as lean dough, sweet dough, frozen dough, rich dough, vitamin D-rich dough, and flexible proofing.
COVID-19 Impact on the Market
The outbreak of COVID-19 has had a negative impact on the growth of the global instant dry yeast market, owing to the presence of lockdowns in various countries across the globe. Lockdowns led to the closure of the food services sector. Which included restaurants chains, fast food chains, and hotels. This was due to the stringent restrictions imposed by the government during the pandemic. Thus, the demand for instant dry yeast in the food services sector and confectionery & bakery industry gradually reduced. This hampered the growth market. However, the market is expected to recoup with eased lockdown restrictions and growing demand for packaged and ready-to-eat foods.
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