The Specialty Yeast Market size is forecast to reach $4.38 billion by 2026, growing at a CAGR of 4.55% during the forecast period 2020-2026. Specialty yeast is very commonly used in the preparation of different food applications such as sauces, snacks, convenience foods, functional foods and other bakery items. The rising intake of convenience food and beverages owing to the rapidly growing urbanization and changing lifestyle trends is stimulating the growth of the Specialty yeast market. The other factors contributing towards the growth of the market includes technological advancement in manufacturing of premium yeast ingredients, alcoholic beverages and non-food applications. Furthermore, Specialty yeast such as yeast extract are gaining popularity owing to their emergence as cost-cutting culinary and as a functional ingredient which is set to further enhance the overall market demand for the Specialty Yeast Market during the forecast period 2020-2026.
Segment Analysis Segment Analysis – By Species Type
The Saccharomyces Cerevisiae held the largest share in the Specialty Yeast Market in 2020 and is estimated to grow at a CAGR of 5.31% during the forecast period 2020-2026. S.cerevisiae is a single celled eukaryotic species of yeast. This species is popularly used as fermenter as it breaks down the sugar component such as sucrose during the fermentation process. S. cerevisiae is widely extracted from the cultivated strains which plays a key role in providing a distinct taste to the food and beverage applications. They are widely used in preparation of wine, beer and distilled beverages owing to extensive consumer demand for these beverage products. S. cerevisiae is also known as nutritional yeast as it is a good source of low-fat owing to no sugar and soy content along with that it is also dairy and gluten free. The extensive use in functional food industry also provides various health benefits to consumer such as boosting immune system, enhancing skin, hair and health and improves glucose sensitivity. Moreover, the increasing demand for savoury and spicy food flavours are increasing the demand for S. cerevisiae in convenience food industry. Saccharomyces Cerevisiae is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2026.
Segment Analysis Segment Analysis – By Applications
Food and Beverage segment held the largest share in the Specialty Yeast Market in 2020. The changing consumer preferences towards consumption of fermented flavour products is driving the demand for Specialty yeast in food applications. The Specialty yeast is popularly demanded for production of various food and beverage applications such as bakery, snacks items, functional items, sauce, alcoholic beverages, convenience foods and others. The growing demand for convenience food consumption is increasing the demand for Specialty yeast such as yeast extract applications in this segment. The increasing demand of Specialty yeast in food and beverage segment is majorly owing to the urbanization and changing lifestyle trends is fuelling the market to grow. Food and beverage are set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2026.
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Segment Analysis Segment Analysis – By Geography
Europe dominated the Specialty Yeast Market in 2020 with a share of 40.15%, owing to various factors including increasing intake of alcoholic beverages and savoury food products. Also, the rising consumer awareness towards the consumption of natural ingredients such as yeast extract is driving the market for Specialty yeast in this region. Thus, Europe is estimated to grow at a higher CAGR during the forecast period 2020-2026.
Specialty Yeast Market Drivers
The shifting consumer preference and taste towards food and beverage application
The shifting consumer trend towards consumption of convenience food is driving the market for specialty yeast. Specialty yeast is used in making various food applications such as sauce, seasoning, bakery, snacks, ready-to-eat products and others. As yeast helps in fermentation process along with that it also provides unique taste and flavor to the food and alcoholic beverage segment owing to this reason the demand for yeast is increasing in this segment. Also, advancement in technology is also driving the specialty yeast production with premium quality yeast ingredient which can enhance the food taste. Thus, increasing the growth of the Specialty Yeast Market during the forecast period 2020-2026.
Rising health awareness demands natural ingredient applications
The rising health awareness among consumer is driving the usage of natural ingredients such as yeast extract, yeast auto lysates and dried yeast owing to their nutritional benefits. Also, Saccharomyces Cerevisiae also known as baker’s yeast also impart nutritional benefit such as improving digestion. Moreover, natural ingredient such as yeast extract is emerging as a popular yeast ingredient owing to its taste which enhances the savory food applications. Thus, increasing the growth of the Specialty Yeast Market during the forecast period 2020-2026.
The increasing instances of cosmetic surgeries and advanced skin treatments are increasing the growth of the Specialty Yeast Market. Specialty Yeast is used in anti-aging treatments and cosmetic surgeries. Increasing instances of cosmetic surgeries and the skyrocketing demand for cosmetic aid such as anti-aging creams and others have paved the way for the robust growth of the Specialty Yeast market. Thus, increasing the growth of the Specialty Yeast Market during the forecast period 2020-2026.
Specialty Yeast Market Challenges
Concerns regarding the side effects on health by consumers
Some of the factors that are set to impede the growth of the Specialty Yeast Market includes the side effects such as high blood pressure, bloating and indigestion in susceptible consumers hinders the market growth for the specialty yeast market.
Specialty Yeast Market Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Specialty Yeast Market. In 2020, the Specialty Yeast Market share is consolidated by the top ten players present in the market. Specialty Yeast Market, the top 10 companies are Archer Daniel Midland,Biorigin, Beldem, DSM N.V, AB Mauri, Lallemand , Angle Yeast,Kerry Group,Synergy Flavours,Lesaffre.
Acquisitions/Product Launches
In Feb 2019, Kerry Group launched non- genetically modified organism yeast. It is a clean label yeast which is claimed to reduce 90% of acrylamide levels in snacks products such as biscuit, fries, potato crisps. They have utilised asparaginase enzyme known as acryleast in their developed yeast which can be used in food applications to reduce the side effects of acrylamide.
Key Takeaways
Europe dominated the Specialty Yeast Market in 2020 owing to several factors such as increasing consumption of convenience food and alcoholic beverages along with the rising consumer awareness towards health benefits of natural ingredients. The Specialty Yeast Market scope for different regions will be provided in the final report.
Increasing popularity of natural ingredients such as yeast extracts owing to its health benefits coupled with increasing application of Specialty yeast in convenience food applications is likely to aid in the market growth of the Specialty Yeast Market.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Specialty Yeast Market report.
Concerns regarding the side effects on health by consumers is poised to create hurdles for the Specialty Yeast Market.
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