Yeast Market expected to expand at a steady CAGR through 2023

Posted March 7, 2019 by TejasAmale

global market for yeast has witnessed continued demand during the last few years and is projected to reach USD 5398.5 million at a CAGR of 8.86% during the forecast period 2017-2023.

Market Introduction

Yeast are single-celled fungi. They are found globally in soils and on plant surfaces and are especially abundant in sugary mediums such as flower nectar and fruits. There are wide varieties of yeast present across the globe and are used commercially based on their potential industrial applications. Ascomycete yeasts are the most common of all and are used in the production of bread, beer, wine, and others. Saccharomyces cerevisiae is one of the major strains of yeast which has diverse application across various industries that are food, beverage, feed, and others.

Market Forecast

The Global Yeast Market has been experiencing a high demand for the last few years and is projected to reach USD 5398.5 million by 2023 compared to USD 3,242.5 million in 2017. Growing working population has started preferring convenience foods which is boosting the growth of the yeast market. Moreover, increasing awareness about the natural food additives among the health-conscious population is propelling the growth of the yeast market among the food and beverage manufacturers. Additionally, increasing use of yeast in feed supplements is an opportunity for the yeast market.

Based on the type, baker’s yeast is dominating the market owing to its increasing application in bakery products as a leavening agent. Moreover, baker’s yeast is witnessed to hold a major market share of 32.81% in Europe in the year 2017. On the basis of form, the instant form of yeast is expected to witness the highest growth rate of 9.32% on the global level. Additionally, yeast market is projected to grow at a CAGR of 9.40% in the application of feed segment over the forecast period.

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Competitive Analysis

The major key players in yeast are:

Associated British Foods PLC (U.K)
Hansen A S (Denmark)
Angel Yeast (China)
Lallemand Inc. (Canada)
Lesaffre (France)
Leiber GmbH (Germany)
Novozymes (Denmark)
Koninklijke DSM N.V. (The Netherlands)
Kerry Group PLC (Ireland)
Synergy Flavors (U.S.)
Kothari Fermentation and Biochem Ltd. (India)
Omega Yeast Labs, LLC (U.S.)
Pak Group (U.S.)
Oriental Yeast Co., Ltd. (Japan)
BSG CraftBrewing (U.S.)

By Downstream Analysis

On the basis of the type, it is segmented into baker’s yeast, brewer’s yeast, wine yeast, feed yeast, bioethanol yeast, and others. Among the types, the baker’s yeast is estimated to account for the major market proportion of 44.24% in the year of 2017. However, bioethanol yeast is projected to be the fastest growing segment during the forecast period of 2017-2023.

Based on the form, yeast market is segmented into dry, instant, fresh, and others. Among them, the dry segment is witnessed to be dominating with a major market share of 31.64% in the year 2017. However, the instant segment is anticipated to witness a healthy growth during the forecast period.

On the basis of the application, it is segmented into foods, beverages, feed, and others. The food segment is dominating with the market share of 44.41% in the year 2017. However, the feed segment is expected to be the fastest growing segment during the forecast period.

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Regional Analysis

Among the regions, Europe is dominating the yeast market with over 33.02% of the global market share and is projected to reach more than USD 5398.5 million by 2023. In Europe, Germany is expected to grow at the highest rate followed by France and the U.K over the forecast period. Moreover, North America is projected to witness the highest growth rate during the forecast period 2017-2023 in which the U.S. is dominating the market and is expected to grow at the highest growth rate.
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Tags Yeast Market , yeast , Yeast Market Size
Last Updated March 7, 2019