Global Yeast Market: Market Driver and Restraint
The major factor driving the growth of yeast market is the increasing consumption of fast food such as bakery products, pizza, etc. owing to the changing lifestyle pattern in developing countries.
Moreover, the increasing awareness about nutritional benefits of yeast is expected to significantly boost the growth of yeast market in the coming years. Yeast is ideal for a vegetarian diet and its nutrients are beneficial for healthy hair, nails, and skin. The selenium-enriched yeast is antioxidant in nature and protects human cellular constituents against oxidative stress. The yeast is full of minerals such as chromium, copper, zinc, selenium, etc. and vitamin B thus they help to compensate for nutritional deficiencies.
However, unavailability of suitable raw materials required in the production of different yeast types may hamper the growth of yeast market in the coming years.
Global Yeast Market: Key Takeaways
The yeast market was valued at around USD 3,284 million in the year 2017 and it is expected to reach approximately USD 4,754 million by 2025. The global yeast market is expected to exhibit a CAGR of around 5.43% between 2018 and 2026.
The volume of the global yeast market in 2017 was around 1490 kilotons and it is expected to reach approximately 2395 kilotons by 2025 with an expected CAGR of around 7.01% during the forecast period.
Global Yeast Market: Forecast by Nature
The Bakery yeast segment accounted for a major share in the yeast market in 2017. The increasing consumption of fast and processed food such as bread, pizza, and other bakery products owing to changing lifestyle is expected to propel the growth of the segment over the forecast period.
The brewer’s yeast segment accounted for a significant share in the global yeast market and is expected to register significant growth rate during the forecast period. The brewer’s yeast contains nutrients such as protein, vitamin B, zinc, potassium, magnesium, etc. The increasing demand for healthy yeast and rising demand for alcoholic beverages is expected to propel the growth of the brewer’s yeast market globally.
Global Yeast Market: Forecast by Application
The food and beverage segment is expected to register the highest CAGR of around 5.5% between 2018 and 2025. The segment accounted for the more than 80% revenue share in 2017 in the global yeast market. The feed and others segment anticipates registering a significant growth rate over the forecast period. Increasing consumption of feed containing yeast by the animals is expected to propel the growth of the segment in the forecast period.
Global Yeast Market: Forecast by Region
Asia-Pacific accounted for the highest share of more than 37% in the global yeast market in the year 2017. The high consumption of processed food and growing demand for nutritional yeast are the major factors contributing towards the growth of the market in this region. The Asia Pacific is expected to register the highest CAGR of around 9% in the global yeast market. The increasing demand for baked food products, changing lifestyle, urbanization, growing consumer preference for natural ingredients and the increasing use of organic yeast in the food industry are the key factors boosting the growth of yeast market in the region.
Global Yeast Market: Key Players
Lesaffe, AB Mauri, AngelYeast, Lallemand Inc, Leiber, Alltech, Jiuding Yeast, Xinghe Yeast, Sunkeen, Jiangmen Biotech, are the key vendors included in this report.
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