The escalating demand for fermented foods & beverages has directly influenced the growth of the fermentation ingredients market among which yeast holds a major share. Application of yeast in the production of bakery products as well as alcoholic beverages such as wine and beer has prompted the high growth of the yeast market globally. The increase in demand for nutritious feed owing to the growing population of livestock is also influencing the high growth of the yeast market on a global platform.
The global yeast market is segmented majorly on the basis of type, form, and application. Based on type, baker’s yeast accounted for a major market proportion of more than 40% in 2017. The growing demand for bakery goods has propelled the high growth baker’s yeast market globally. Additionally, bioethanol yeast is projected to be the fastest growing segment during the forecast period of 2017 to 2023.
Europe dominates other regions due to the escalating consumption of wine and beer in the region. Europe is projected to account for a market share of more than 30% during the assessment period followed by the Asia Pacific region. Furthermore, North America is evaluated to witness the highest growth rate during the corresponding period.
Some of the key players profiled in the global yeast market are Associated British Foods PLC (U.K), Chr. 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), and BSG CraftBrewing (U.S.).
- Yeast manufacturers
- Beverage industry
- Bakery industry
- Animal Feed industry
- Food processors
- ·The European region is estimated to dominate the market with a market share of 33.02%. Furthermore, in Europe, Germany is projected to witness a substantial growth of 8.56% during the forecast period of 2017–2023
- ·Global yeast manufacturers find massive opportunities in the developing economies of the Asia Pacific region owing to the increasing consumption of convenience foods
Regional and Country Analysis of the Global Yeast Market, Development and Demand Forecast to 2023
As per the MRFR analysis, the global yeast market is expected to reach USD 5398.5 million by the end of 2023 at a CAGR of 8.86% during the forecast period.
The reports also cover the country-level analysis:
- North America
- ·Rest of Europe
- Asia Pacific
- ·South Korea
- ·Rest of Asia Pacific
- ·Latin America
- ·The Middle East