- Increasing awareness about the natural food additives among the health-conscious population is propelling the growth of the yeast market.
- Increasing use of yeast in feed supplements is an opportunity for the yeast market.
- Europe is dominating the yeast market with over 33.02% of the global market share and is projected to reach more than $5.4 billion by 2023.
The global market for yeast has witnessed continued demand during the last few years and is projected to reach $5.4 billion at a CAGR of 8.86% during the forecast period 2017-2023. 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.
The global market for yeast has been experiencing a high demand for the last few years and is projected to reach $5.4 billion by 2023 compared to $3.2 billion 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.
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Some of the key players profiled in the global yeast market: 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), BSG CraftBrewing (U.S.)
The Europe 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 opportunity in developing economies of Asia Pacific region owing to the increasing consumption of convenience foods.
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 $5.4 billion 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.