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Written by Elena Anderson » Updated on: November 19th, 2024
According to the latest report by IMARC Group, titled “Yeast Market Report by Form (Dry Yeast, Instant Yeast, Fresh Yeast, and Others), Type (Baker’s Yeast, Brewer’s Yeast, Wine Yeast, Bioethanol Yeast, Feed Yeast, and Others), Application (Food, Feed, and Others), and Region 2024-2032”, offers a comprehensive analysis of the yeast market share. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry. 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.
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Recent Developments in the Yeast Market:
There is exceptional gain in the yeast industry because of the increasing needs for organic, functional, and eco-friendly food and beverage components. Yeast now stands at the forefront of clean label product formulations as people are more inclined to health-claims and are more cautious about their diets. There is an increase in the use of nutritional yeast among vegan and health-focused populations which is largely due to its vitamin and protein content. In the bakery segment, developments in yeast varieties are allowing the production of gluten free and low carbohydrate products and ingredients for varied dietary needs. On the other hand, the focus of the brewing industry has been on the use of different strains of yeast to help enhance flavor balance in craft beers. Further, opportunities from biotechnology are promoting yeast utilization in biofuels, animal nutrition, and pharmaceuticals illustrating yeast’s diversity and assuring global sustainability objectives.
Yeast Market’s Growth Drivers:
Apart from weaknesses, there are some encouraging factors that should result in robust growth of the market for yeast. Most importantly, the global market expansion of fermented products like bread, beer, and probiotic foods is leading to cause increased demand for yeast. Yeast-food products are becoming more popular with health-oriented individuals, as they promote gut health, improve immunity, and enhance nutrient absorption. Countries taking their place in the center stage are emerging markets who are increasing their consumption of baked products and other alcoholic beverages. Close in time the use of yeast in the production of bioethanol has become popular. This is due to the global efforts made to use renewable energy resources. Also, there is increased demand for yeast in animal feed owing to the great value placed on yeast through improved digestion and enhanced health of livestock, in the context of sustainable agriculture systems. There is also an increasing trend of joint ventures between yeast producers and the food industry in research so as to create specific food products aimed at meeting the ever changing market.
Future Demand and Opportunities in the Yeast Market:
The future demand for yeast is favorable very which is fueled by the growing application of yeast in various fields. Yeast in the food and beverage industry is also expected to meet the growing demand for organic, GMO-free, and allergen-free products among consumers. The plant based food sector will greatly benefit from yeast based contribute which serve to boost taste quality as well as supplying valuable nutrients. In biotechnology, yeast is being used for enzyme synthesis, bioplastics production and drug development which creates new opportunities. In addition, cutting-edge genetic engineering technologies have made it possible to create tailor-made yeast strains with improved characteristics, including faster fermentation and higher nutrient yield. With sustainability a pressing issue all over the world, yeast will increasingly be looked at for its value in environmentally friendly applications such as the production of biofuels and waste management. This ensures that yeast remains relevant in the coming years.
Leading Key Players Operating in the Yeast Industry:
Yeast Market Overview:
The yeast market is in a transition stage due to changes in the behaviour of consumers and as a result of new technologies. In the near future, as health and wellness endeavors become the prime focus, yeast based products are expected to be embraced for their nutritional and functional properties. In particular, there is a growing interest among vegans and vegetarians in adding nutritional yeast, which is rich in vitamin B12, and has a pleasant taste. For food and beverage, yeast technology makes it possible to produce closest to ideal bread, specialty drinks, and fermented products. Moreover, yeast is starting to serve new purposes in today’s world, such as flavoring ingredients for plant based meat alternatives, eco-friendly fuel, and production of medicinal drugs. These trends give credence to the fact that the market is flexible and is supportive of the changes in the areas of consumer and industrial needs throughout the world.
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Yeast Market Report Segmentation:
Breakup by Form:
Fresh yeast accounts for the majority of the market share.
Breakup by Type:
Baker’s yeast holds the largest share of the industry.
Breakup by Application:
Food represents the leading market segment.
Breakup by Region:
Europe leads the market, accounting for the largest yeast market share.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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