According to our industry analysis, the demand for yeast in Korea is estimated to be worth around USD 66.06 million in 2023. Over the next ten years, yeast production and use in the country is poised to advance at a rate of 11.6% per year. The analysis report further predicts the net revenue generated by sales of yeast by the regional industries to reach almost USD 198.3 million by 2033.
Key Insights on the Yeast Sector of Korea
| Attributes | Details |
|---|---|
| Industry Size of Korea in 2023 | USD 66.06 million |
| Expected Industry Size of Korea by 2033 | USD 198.3 million |
| Forecasted CAGR between 2023 to 2033 | 11.6% |
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The baker’s yeast segment is anticipated to capture almost 42.3% of total sales in Korea in 2023.
| Yeast in Korea based on Product Type | Baker’s Yeast |
|---|---|
| Total Share (2023) | 42.3% |
Baker’s yeast is quite popular in Korea due to its neutral taste, which makes it perfect for brewing wine and various other beverages. There are also many distinct strains of baker's yeast designed for specific uses, including low-temperature-tolerant yeast for chilled dough and osmo-tolerant yeast for sweet dough.
Higher availability and sales of yeast in dry form are expected to contribute to 40.2% of the total yeast sales in Korea in 2023.
| Yeast in Korea based on Form Type | Dry Yeast |
|---|---|
| Total Share (2023) | 40.2% |
The added advantage of dry yeast over other forms in terms of storage and transportation is expected to maintain its dominance in Korea during the forecasted years. Additionally, the increasing use of dry yeast in the preparation of animal feed has boosted its demand in Korea. However, the rising preference for fresh or instantly prepared yeast is set to create more commercial opportunities in the coming days.
Principal Consultant
The competition among yeast manufacturers in Korea intensified in the last five years with the emergence of many regional sellers with improved quality, convenience, and adaptability of yeast. The extension of online retail channels and delivery services in Korea has certainly played a significant role in this notable growth of regional yeast suppliers.
Yeast suppliers in Korea are distinguishing their product lines to help customers experiment with various baking methods and recipes. So, new entrants can significantly impact consumer preferences and choices in the country by effectively marketing and promoting their unique yeast products, thus influencing the industry.
Recent Developments in Yeast Indstry in Korea
In South Korea, a "zero-sugar" popularity is growing up for soju, the national alcoholic beverage prepared from yeast and rice. Lotte Chilsung Beverage Company reported that 100 million 360-ml bottles of its diet brand Chum Churum Saero were sold in the first seven months following the debut in September 2022. Also, in response to the surge in sugar-free Soju, HiteJinro Company revived its long-running blockbuster Jinro product line in early 2023.
In July 2021, Lallemand Animal Nutrition Company revealed its plan to build a new office in Seoul, South Korea, as part of its ongoing efforts to improve customer service and innovate. The company is dedicated to providing specialized natural microbial products and services that optimize animal health and performance. It, produces, and sells high-value yeast and bacterium products, such as probiotics, silage inoculants, and yeast derivatives, using solid research, demonstrated outcomes, and expertise. The administration of fodder, and animal nutrition are expected to gain from these creative methods and boost the yeast sales in Korea.
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| Attribute | Details |
|---|---|
| Estimated Industry Size in 2023 | USD 66.06 million |
| Projected Industry Size by 2033 | USD 198.3 million |
| Anticipated CAGR between 2023 to 2033 | 11.6% CAGR |
| Historical Analysis of Demand for Yeast in Korea | 2018 to 2022 |
| Demand Forecast for Yeast in Korea | 2023 to 2033 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing Yeast in Korea, Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Korea Providers |
| Key Companies Profiled | Angel Yeast Co., Ltd.; CJ Bio Korea; Lesaffre Korea; DSM Korea; Kerry Korea; Bio-Tech Korea Co., Ltd.; Innova Biosciences; Novozymes Korea; AB Enzymes Korea; Danisco Korea; Lallemand Korea; Biospringer Korea |
| Key Cities Analyzed while Studying Opportunities in Yeast in Korea | South Gyengsang, North Jeolla, South Jeolla, Jeju, Rest of Korea |
The anticipated CAGR for yeast industry in Korea through 2033 is 11.6%.
Yeast business revenue in Korea is likely to be around USD 198.3 million by 2033.
Yeast supplying companies are targeting retail sector to boost sales.
Baker’s yeast accounts for 42.3% revenue share in Korea in 2023.
Adoption of dry yeast currently garners 40.2% of total sales in Korea.
1. Executive Summary 2. Market Overview 3. Market Background 4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033 5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Baker’s Yeast 5.2. Bi-Ethanol Yeast 5.3. Feed Yeast 5.4. Wine Yeast 5.5. Brewer’s Yeast 6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Form 6.1. Dry Yeast 6.2. Fresh Yeast 6.3. Instant Yeast 7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. South Gyeongsang 7.2. North Jeolla 7.3. South Jeolla 7.4. Jeju 7.5. Rest of Korea 8. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 9. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 10. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 11. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 12. Rest of Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 13. Market Structure Analysis 14. Competition Analysis 14.1. Jenico Foods 14.2. Kothari Fermentation and Biochem Ltd. 14.3. Leiber GmbH 14.4. AB Mauri Foods, Inc 14.5. Oriental India Pvt Ltd. 14.6. Lallemand Inc. 14.7. Ohly GmbH & Co. KG 14.8. AGRANO Gmbh 14.9. Lesaffre International 14.10. Others 15. Assumptions & Acronyms Used 16. Research Methodology
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Demand and Trend Analysis of Yeast in Korea
