Global Brewer's Yeast Market 2024 : SWOT Analysis Of Key Driving Factors For Growing CAGR Value

"The Business Research Company recently released a comprehensive report on the Global Brewer's Yeast Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The brewer's yeast market size has grown rapidly in recent years. It will grow from $4.46 billion in 2023 to $4.91 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to increasing consumer preference for alcoholic drinks, rising prevalence of aortic stenosis, increasing healthcare expenditure, rising prevalence of chronic wounds..

The brewer's yeast market size is expected to see strong growth in the next few years. It will grow to $6.95 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to growing demand for natural and functional ingredients, craft beer boom, expansion of the animal feed industry, population growth and per capita consumer income growth, strong market growth, growing adoption of brewer's yeast in food and nutrition.. Major trends in the forecast period include product innovations, growing demand for seamless online purchasing experiences, impact of emerging technologies, influence of mergers and acquisitions, regional dynamics..

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Market Drivers and Trends:

The increasing consumer preference for alcoholic drinks is expected to boost the growth of the brewer's yeast market going forward. Alcoholic drink refers to any fermented beverage that contains ethyl alcohol, often known as ethanol, such as beer, wine, or distilled spirits. Alcohol is produced by fermenting carbohydrates, carried out by active brewer yeast (Saccharomyces cerevisiae). Hence, the increasing consumer preference for alcoholic drinks will boost the brewer's yeast market. For instance, according to a report published by Statistics Canada, a Canada-based national statistical agency, in 2023, alcoholic beverage sales at retail establishments and liquor authorities reached $26.1 billion on March 31, 2022, an increase of 2.4% from the previous year. And wine sales increased by 2.1% to $8.1 billion in 2021 and 2022. Further, beer made up 34.9% of the value of all alcohol sales in 2021-2022, followed by wine (31.3%), spirits (25.8%), ciders, and coolers (8.0%). Therefore, the increasing consumer preference for alcoholic drinks is driving the growth of the brewer's yeast market.

Product innovation is the key trend gaining popularity in the brewer's yeast market. Major companies operating in the brewer's yeast market are focusing on developing new products to sustain their position in the market. For instance, in June 2021, White Labs, a US-based producer of brewer's yeast, launched PurePitch Next Generation (PPNG) yeast for brewers. The unique feature of PPNG is that it is a high-grade product that streamlines the brewing process for brewers. The PPNG packaging has oversees for comfort and a connectable port for close-system inline yeast transfers to prevent contamination. Additionally, the pouches have a two-layer covering that is more breathable to lessen product inflation and keep the yeast healthy.

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Major Key Players of the Market:

Cargill Incorporated, Archer-Daniels-Midland Company, Associated British Foods Plc, Kerry Group Plc, Nutreco N.V., Sigma-Aldrich, Royal DSM NV, AngelYeast Co Ltd., Alltech Group, Chr Hansen Holding AS, Dawn Food Products Inc., Lallemand Inc., BiOrigin Specialty Products, Leiber GmbH, Northern Brewer LLC, Brewers Supply Group, Titan Biotech Limited, Wyeast Laboratories Inc., White Labs Brewing Co., Omega Yeast Labs LLC, AB Mauri India Pvt Ltd., AEB Group, F.L. Emmert Company, Real Brewer's Yeast, Lesaffre Group, Laffort SA, Bruchem Inc., Inland Island Yeast Laboratories LLC, Scandinavian Formulas Inc.

Brewer's Yeast Market 2024 Key Insights:

• The brewer's yeast market size is expected to see strong growth in the next few years. It will grow to $6.95 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%.
• Sustained Growth In Brewer'S Yeast Market Fueled By Escalating Consumer Preference For Alcoholic Beverages
• Innovative Product Launches Transforming The Brewer's Yeast Market Through A Focus On White Labs' Purepitch Next Generation (PPNG) Yeast
• North America was the largest region in the brewer's yeast market in 2023

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