PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1462799
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1462799
The global yeast market is estimated to be valued at USD 5.5 billion in 2024 and is projected to reach USD 8.5 billion by 2029 at a CAGR of 8.9%. Yeast, a crucial ingredient in bread-making, plays a central role in determining the texture, flavor, and rise of baked goods. As the demand for bread continues to rise, driven by factors such as the popularity of artisanal and specialty breads, the home baking trend, and consumers' preference for natural and clean-label ingredients, there is a parallel increase in the demand for yeast. The increasing import figures for bread worldwide, from USD 38.7 million in 2020 to USD 44.3 million in 2021 and further to USD 49.7 million in 2022, indicate a growing demand for bakery products on the global scale. This upward trend in bread imports presents a significant opportunity for yeast products within the food industry.
Scope of the Report | |
---|---|
Years Considered for the Study | 2024-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD), Volume (Ton) |
Segments | By Type, Applications, by Form, By Genus, By Yeast Extract (Qualitative) And Region |
Regions covered | North America, Europe, Asia Pacific, South America, and RoW |
Moreover, the expanding market for plant-based and alternative proteins further amplifies the opportunities for yeast-derived ingredients in food applications. With technological advancements enhancing the efficiency and versatility of yeast production, manufacturers are well-positioned to capitalize on these rising opportunities within the food industry, leveraging yeast products to meet the evolving demands of consumers worldwide.
"Fresh form dominating within the form segment of the yeast market."
The increasing demand for fresh yeast stems from several factors, particularly its unique characteristics and advantages within the baking and confectionery industries. Unlike other forms of yeast, such as active or instant, fresh yeast offers distinct benefits that cater specifically to the needs of bakers and pastry chefs.
Fresh yeast is prized for its natural extraction process. It is derived from natural sources and undergoes minimal processing, preserving its inherent qualities. This natural origin appeals to consumers seeking wholesome, minimally processed ingredients in their baked goods. The rising demand for fresh yeast underscores its indispensable role in the bakery and confectionery sectors. Its natural origin, nutritional benefits, flavor-enhancing properties, and versatility in baking applications make it a preferred choice for consumers and professional bakers alike. As a result, the fresh yeast segment is poised for significant growth in the foreseeable future.
"Changes in dietary choices have positioned Europe as a dominating region in the yeast market."
The demand for yeast products in Europe has experienced a notable upsurge in recent times, fueled by several factors. One significant driver has been the rising trend of home baking, particularly accentuated during the COVID-19 pandemic. This surge in home baking has led to a heightened consumption of yeast for bread-making purposes as individuals sought solace and satisfaction in the art of baking. According to the COFALEC (Confederation of European Yeast Producers), Europe produces 35% of the yeast worldwide. 475 million Europeans consume, on a daily basis, food & drink products that are made using yeast, such as bread, beer, or wine.
Concurrently, there has been a growing recognition of the health benefits associated with fermented foods, including those containing yeast. With its probiotic properties and contributions to gut health, yeast has garnered increased attention among health-conscious consumers. With its versatility and widespread applicability, yeast continues to be a sought-after ingredient, promising sustained growth and innovation in the European market.
Prominent companies ADM (US), Associated British Foods plc (UK), Alltech (US), AngelYeast Co., Ltd (China), Lallemand Inc. (Canada) among others.
This research report categorizes the yeast market by type (brewer's yeast, baker's yeast, wine yeast, probiotic yeast, other types), by applications (food, feed, other applications), form (fresh, instant, active), by yeast extract (Qualitative) and Region (North America, Europe, Asia Pacific, South America, RoW).
The report covers information about the key factors, such as drivers, restraints, opportunities, and challenges impacting the growth of the yeast market. It also provides a detailed analysis of the major players in the market including their business overview, products offered; key strategies; partnerships, new product launches, and acquisitions. Competitive benchmarking of upcoming startups in the yeast market is covered in this report.
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall yeast market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Analysis of key drivers (Expansion of the bakery industry worldwide), restraints (Concerns regarding allergenic potential of yeast), opportunities (Strategic collaborations and partnerships between yeast manufacturers & other players), and challenges (Difficulty in achieving consistent product quality and performance due to variations in raw materials, fermentation conditions, and strain characteristics) influencing the growth of the yeast market.
(Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)**