Yeast Market to Grow at 8% CAGR by 2024 | IMARC Group
According to the latest report by IMARC Group, titled “Yeast Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global yeast market size has witnessed moderate growth during 2013-2018. Yeast is a single-celled fungus that is used in the production of bread, beer and wine. It is responsible for leavening the dough and imparting fermentation to the product. Among the different types of yeast, commercial yeast, also known as Saccharomyces Cerevisiae, is the most widely used and consists of 50 percent protein with high amounts of vitamins B1, B2, niacin, and folic acid. It is also added as a savory seasoning in a wide variety of vegan dishes, such as pasta, vegetables, and salads, for imparting a nutty and cheesy flavor.
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The increasing consumption of bakery products has led to a rise in the demand for yeast. Furthermore, the growing awareness about the high nutrient content and health benefits of inactivated nutritional yeast has escalated its sales as a dietary supplement. Its consumption is widely known to boost energy levels, support the immune system, promote skin, hair and nail growth, and improve glucose sensitivity. Besides its food applications, yeast is also utilized in the non-food sectors. It is employed for producing ethanol in the biofuel industry and plays a crucial role in environmental applications like bioremediation and removal of heavy metals from wastewater. Moreover, the ongoing research and development (R&D) activities have led to the introduction of novel capabilities to produce new yeast products, extend substrate range, as well as increase its scope of application in food ingredients and additives. This is anticipated to provide vast opportunities to the market players in the upcoming years. Looking forward, the market value is projected to expand at a CAGR of around 8% during 2019-2024.
- Based on the form, the market has been segmented as dry, instant, fresh and other forms of yeasts.
- On the basis of the type, the market has been segregated into baker’s, brewer’s, wine, bioethanol, feed and others.
- The market has been categorized based on the application into food, feed and others. Food application is further divided into bakery, alcohol beverages, prepared food.
- Region-wise, the market has been classified into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been examined with some of the key players being Associated British Foods Plc, Lesaffre & CIE, Angel Yeast Co., Ltd, Cargill, Incorporated, Chr. Hansen A/S, Alltech Group, Lallemand Inc., Koninklijke DSM N.V., Nutreco N.V., Kerry Group plc, Synergy Flavors, Inc., The Archer Daniels Midland Company, Oriental Yeast Company Limited, Diamond V Mills, Inc. (Diamond V), Pacific Ethanol, Inc. and Leiber GmbH.
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