According to MarketsandMarkets, the global yeast market size is estimated to be valued at USD 3.9 billion in 2020 and is projected to reach USD 6.1 billion by 2025, recording a CAGR of 9.6%. Yeast, being one of the most versatile microorganisms, is used in the production of food & beverage products. The commercialization of yeast has resulted in a transition phase in the yeast industry. The market for yeast is growing globally due to the increase in demand for bakery products, the trend of buying alcoholic beverages worldwide, and the global demand for bioethanol as a fuel.
The demand for naturally sourced food additive witnesses a significant increase due to the growing health concerns among consumers, which is projected to drive the growth of the market. However, food safety regulations for the use of red yeast extract products are a key factor that is projected to inhibit the growth of this market in developed regions.
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The fresh segment is projected to witness significant growth during the forecast period
Based on form, the yeast market is segmented into active, instant, and fresh. The fresh segment is projected to witness significant growth during the forecast period. Fresh yeast is majorly used in the production of bakery & confectionery products in the food industry. As it is a naturally- extracted food additive and a rich source of proteins, vitamins, and minerals, fresh yeast makes a perfect ingredient for bakery food products. The segment also accounted for a significant share in the global yeast market in 2019.
The food segment is projected to hold a major share in the yeast market during the forecast period
Based on applications, the yeast market is segmented into food, feed, and other applications. The food segment is estimated to account for a larger share in the yeast market due to the growing usage of yeast in the bakery industry to produce fresh and high-quality products. Yeast is increasingly used in the food industry as a baking ingredient, flavorings, and seasoning agents. Since the demand for processed & baked food and non-carbonated beverages is increasing due to the changing lifestyle of consumers, the growth of the yeast market is projected to remain high.
Europe is projected to account for the largest share during the forecast period
In 2019, Europe accounted for the largest share in the market. The processed food and bakery industries in the European region are witnessing significant growth due to the change in lifestyles of consumers and an increase in disposable income levels. The European yeast market is witnessing significant growth due to the increase in consumption of processed food products, the rise in alcohol consumption, and awareness about the nutritive value of yeast. The market in the European Union is mainly concentrated on bread production applications. The increase in the consumption of cakes, bread, pastries, as well as alcoholic beverages has led to an increase in demand for yeast in European countries.
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Key Market Players:
Key players in this market include AngelYeast Co., Ltd. (China), Lesaffre Group (France), Lallemand Inc. (Canada), Associated British Foods PLC (UK), Alltech (US), and Chr. Hansen Holdings A/S (Denmark).
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