Yeast Market Insights, Trends, Growth, Forecast, and Report 2024-2032

According to the latest report by IMARC Group, titled “Yeast Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, the global yeast market size reached US$ 7.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 13.6 Billion by 2032, exhibiting a growth rate (CAGR) of 6.9% during 2024-2032.

Yeast, a unicellular fungus, plays a crucial role in various fermentation and baking processes, converting sugars into alcohol and carbon dioxide. This biotechnological marvel is characterized by its ability to thrive in diverse environments, making it indispensable across multiple industries, including food and beverage, pharmaceuticals, and biofuel production. Yeast's functionality is based on its fermentation prowess, which is harnessed to produce bread, beer, wine, and bioethanol, showcasing its versatility. Among its properties, yeast contributes to nutritional enrichment, flavor enhancement, and texture improvement in food products. Furthermore, its rapid growth rate and the capability to be genetically modified enhance its appeal for industrial applications, including the production of vaccines and enzymes. The advantages of using yeast encompass not only its economic viability but also its sustainability, providing an eco-friendly alternative to chemical processes.

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Top Yeast Companies Worldwide:

• 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.

• Leiber GmbH

Yeast Market Trends:

The global yeast market is primarily propelled by the escalating demand for bakery products and alcoholic beverages, where yeast is a key ingredient. In line with this, the rising popularity of craft beers and artisanal baked goods is also providing an impetus to the market. Furthermore, the increased health consciousness among consumers is acting as a significant growth-inducing factor for the market, as yeast is a source of vitamins, minerals, and proteins. In addition to this, the expanding bioethanol industry, requiring yeast for fermentation processes, is resulting in higher investment in research and development to enhance yeast strains for biofuel production. Moreover, the growing demand for animal feed, where yeast is used as a nutritional supplement, is creating lucrative opportunities in the market. Also, the burgeoning pharmaceutical sector leverages yeast in vaccine production, impacting the market positively. The market is further driven by advancements in biotechnology that improve yeast strains for various industrial applications. Apart from this, the availability of yeast-based products across online and offline retail channels is propelling the market. Some of the other factors contributing to the market include the global shift towards natural food additives, the adoption of sustainable agricultural practices promoting organic yeast production, and extensive research and development (R&D) activities in the field of biotechnology.

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Yeast Market Report Segmentation:

Breakup by Form:

• Dry Yeast

• Instant Yeast

• Fresh Yeast

• Others

Fresh yeast represented the largest segment due to it is preferred by many bakeries and food manufacturers for its high activity levels and ability to provide excellent leavening properties, resulting in superior product quality.

Breakup by Type:

• Baker’s Yeast

• Brewer’s Yeast

• Wine Yeast

• Bioethanol Yeast

• Feed Yeast

• Others

Baker’s yeast represented the largest segment as it is extensively utilized in commercial baking processes worldwide, offering consistent fermentation performance and contributing to the desired texture, volume, and flavor of baked goods.

Breakup by Application:

• Food

o Bakery

o Alcoholic Beverages

o Prepared Food

o Others

• Feed

• Other Applications

Food represented the largest segment due to the widespread use of yeast in various food products such as bread, pizza dough, pastries, and savory snacks, where it serves as a key leavening agent and flavor enhancer.

Breakup by Region:

• North America (United States, Canada)

• Europe (Germany, France, United Kingdom, Italy, Spain, Others)

• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)

• Latin America (Brazil, Mexico, Others)

• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Europe’s dominance in the yeast market is attributed to its rich culinary traditions, strong presence of artisanal bakeries, and high consumption of yeast-based products across diverse cuisines, driving robust demand for yeast in the food and beverage industry throughout the region.

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