Specialty Yeast Market to Rise at 6% CAGR, Supply Chain Disruptions Caused Due to Coronavirus Outbreak May Impact Growth


Posted August 13, 2020 by srishtiisaave

The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.

 
The global specialty yeast market size is expected to reach US$ 3,656.3 Mn by the end of 2029. According to a study by Future Market Insights (FMI), the market will show a steady rise at 6% CAGR between 2019 and 2029. According to the report, the usage of specialty yeast is increasing, owing to the growing awareness about its nutritional benefits. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market. The emergence of COVID-19 has brought with it travel bans and quarantines; massive slowing of the supply chain; uncertainty in the stock market; falling business confidence, and growing panic among the population.

It includes in-depth insights into the specialty yeast market. Some of these are:
The estimated value of the market was at US$ 2,039.8 Mn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
Europe is projected to dominate the specialty yeast industry growth over the assessment timeline.
The regional growth can be credited to the rise in the intake of alcoholic beverages along with the increase in customer knowledge about the health advantages derived due to the product consumption.
The specialty yeast market in North America is expanding alongside advancements in the food processing sector of the US.
Investment in the global specialty yeast market is a nascent trend that has disrupted the growth dynamics of the market.

“Factors such as growing urbanization & customization, dynamic lifestyle changes, rising number of nuclear families, growing number of women in the workforce, and availability of less time for food preparation is driving the demand for processed food products,” said a lead analyst at FMI.
Coronavirus might Slow Down the Growth of Specialty Yeast Market

The soaring degree of coronavirus spread has made consumers wary about their spending habits. As globally governments have enforced directives to curb the spread, recommendations for reduced travel, “social distancing” and other safety habits will compel consumers to make tough choices about eating away from home, placing order online or even home cooked meals. This will in turn have a considerable impact on the market and sales in the market. Declining spending power across the globe owing to the evolving recession and short-time appreciation of dollars led to significant decline in exports and imports.

Who is Winning?
Some of the major players of the global specialty yeast market are Chr. Hansen Holding A/S, Archer Daniels Midland, Lallemand, Kerry Group, Lesaffre, Synergy Flavors, Angel Yeast, AB Mauri, Koninklijke DSM N.V., Levex and others. Specialty yeast widely used in various food applications will increase due to its unique taste, natural flavoring and other functional properties and demand for specialty yeast products, providing manufacturers with a greater opportunity to gain future growth in the market for specialty yeast
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Categories Food , Industry , Marketing
Tags specialty yeast , specialty yeast demand , specialty yeast market , specialty yeast trends
Last Updated August 13, 2020