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The gobal yeast and yeast extract market is projected to grow at a CAGR of 9.11% during the forecast period (2020 - 2025).
- The increasing demand from the end-user sectors, such as food and beverages, is significantly contributing to the growth of the yeast and yeast extracts market. There is a huge market for bakers yeast, as it is extensively used for enhancing the quality of bakery goods.
- Moreover, the increasing demand for organic yeast offerings is one of the key trends in the yeast market. Organic food ingredients are gaining traction, owing to the health benefits associated with organic products. Several key vendors are launching organic yeast, for example, Biospringer (Lesaffre) launched Springer Organic Baker’s Yeast Extract in 2016.
Key Market Trends
Increasing Demand for Bakery Products
Currently, bread is a food staple in many cultures across the globe, which is majorly driving the demand for baker’s yeast, as bread is typically made from wheat flour dough and baker’s yeast. Moreover, packed baked goods, such as cake, are expected to witness significant demand in the upcoming years, owing to the rising preference for eating packed cakes as snack, mainly among children across the globe. Furthermore, bread and bakery product sales have been driven by the ongoing surge in demand for free-from ranges and speciality breads and the impact of inflation on retail prices, which is further driving the demand for baker’s yeast in bread and bakery product application.
North America holds the Major Market Share
North America is one of the leading regions in the global yeast and yeast extracts market, driven by robust demands for clean label ingredients and additives – flavors and flavor enhancers exhibiting clean taste and aroma are escalating the market growth of yeast and yeast extracts. In Europe, increasing demand for processed foods, coupled with increasing awareness about health conscious products is significantly propelling the growth of the bakers yeast market in the region, which is in turn, driving the growth of the market studied. Asia-Pacific market for yeast and yeast extracts is driven by growing consumption of baked goods and confectionery products. The potential for bio-ethanol yeast in this region is also promising given the evolving energy-mix of different economies.
Some of the major keyplayers in the yeast and yeast extracts market, globally includes ABF Group, Angel Yeast Co., BioSpringer, Chr. Hansen, DSM, Kerry Group, Kohjin Life Sciences, among others.
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