The growth forecast for the yeast market suggests a modest expansion, with a market size estimated at USD 3.83 billion in 2023. The estimated CAGR of 4.6% from 2023 to 2033 suggests that the global worth of the yeast market is anticipated to soar to an impressive USD 5.98 billion by 2033.
| Attributes | Key Statistics |
|---|---|
| Expected Base Year Value (2023) | USD 3.83 billion |
| Anticipated Forecast Value (2033) | USD 5.98 billion |
| Estimated Growth (2023 to 2033) | 4.6% CAGR |
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Sustainable and Cleaner Fuel Alternatives drive the Demand for Yeast
In recent years, there has been a great demand for renewable and environmentally friendly fuels, like bioethanol. Yeast acts as a natural fermenting agent that converts the sugar from biomass sources such as corn, sugarcane, or cellulosic materials into ethanol. As more economies and industries turn towards a more sustainable fuel alternative, the significance of yeast, too, will increase in these sectors.
Bioethanol is considered a cleaner alternative to fossil fuels. This environmental awareness has led to government incentives and regulations favoring bioethanol, further boosting the market size for yeast.
Subsequently, many research institutes are dedicated to innovative bioethanol production processes that often require specialized yeast strains that can enhance ethanol yields and improve fermentation efficiency.
Soaring Significance in Bioremediation Facilitates Yeast Market Growth
Yeast has been used in the food and beverage industry for ages, but advancements in food science have also opened new avenues for yeast in various other sectors. Yeast is used in bioremediation processes to clean up environmental pollutants.
Certain strains of yeast can break down or absorb contaminants, making them valuable in wastewater treatment and soil remediation. This ability of yeast has attracted a lot of attention as the manufacturing world seeks eco-friendly pollution control solutions.
Apart from this, there is also a huge demand for yeast in the agricultural sector. Yeast can help break down contaminants in the soil and convert them into less harmful substances.
In some cases, yeast is also used in conjunction with other microorganisms, such as bacteria, to enhance the bioremediation process. In emerging economies like India, Brazil, etc., where there is substantial emphasis on organic farming, the consumer demand for yeast is rising exponentially.
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According to Future Market Insights, the market for yeast in the recent past has not seen a significant change. The market has been growing at a very steady pace and is estimated to follow the same pattern in the coming decade as well.
As the world faced shutdowns of restaurants and recreational spaces due to the pandemic, the yeast market growth experienced a slowdown. But this same plunge was balanced by the rapid expansion of the pharmaceutical industry in the said period.
With developing economies and leading industry players focusing more on their carbon footprints, the yeast market will likely gain impetus in the coming decade, the signs of which are evident if one analyses the current market trend.
| Attributes | Key Statistics |
|---|---|
| Expected Base Year Value (2018) | USD 3.09 billion |
| Anticipated Forecast Value (2022) | USD 3.67 billion |
| Estimated Growth (2018 to 2022) | 4.4% CAGR |
Baker's yeast is one of the most fundamental ingredients in bread and bakery production. Bread is a staple food in many cultures around the world, and it is produced in large quantities. When it comes to product type, Baker’s yeast has the largest contribution to the overall global revenue of the yeast market, with a share of 33.30%.
Bread and bakery products, including pastries and pizza dough, are consumed daily by millions of people globally, resulting in a high demand for baker’s yeast
| Attributes | Details |
|---|---|
| Product Type | Baker’s Yeast |
| Market share | 33.30% |
Baker's yeast has been a key ingredient in traditional and artisanal bread making since the beginning of times, both for residential as well as commercial purposes.
Unlike some yeast applications that may have seasonal or niche demand, the demand for bread and bakery products is relatively constant throughout the year, contributing to a steady and consistent revenue stream for baker's yeast manufacturers.
Due to the high demand for bread and bakery products, baker's yeast is produced on a large scale as bread is not just consumed in a specific region but across the world. This global market reach creates suitable conditions for manufacturers to produce and distribute baker’s yeast to a relatively larger consumer base.
This is also why there is a huge demand for innovations in baking techniques, thus driving demand for baker's yeast in recent years.
Dry yeast is the most popular form in the yeast market for several reasons, and its popularity contributes significantly to the overall yeast market. On the basis of form, the yeast market is segmented into fresh and dry yeast, where the latter dominates the market with a revenue share of 54.50%.
The primary advantage of dry yeast is its extended shelf life compared to fresh yeast, making it easy for manufacturers to store and distribute it across borders.
Dry yeast is curated to have a consistent fermentation property, ensuring reliable and predictable results in bread and bakery product production. This consistency ensures similar culinary processes across the world, making it popular in the restaurant and food and beverage industry.
| Attributes | Details |
|---|---|
| Form | Dry Yeast |
| Market share | 54.50% |
The dry form of yeast is considered more hygienic and safer to handle than fresh yeast. It reduces the risk of adulteration and microbial growth during storage and distribution. This makes dry yeast the most user-friendly and convenient to use, appealing to a wider consumer base.
It can also be exported and imported more easily than fresh yeast, making it a preferred choice for international trade in the global yeast market.
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| Countries | CAGR (2023 to 2033) |
|---|---|
| United States | 3.9% |
| China | 2.3% |
| Japan | 5.9% |
| India | 7.9% |
| Germany | 6.1% |
Like many other parts of the world, India has experienced a substantial surge in the craft brewing industry. Craft breweries produce small batches of personalized and artisanal beers, which has led to a higher demand for a variety of yeast strains that can enhance the overall experience of craft beers. The yeast market is estimated to have a remarkable growth rate of 7.9% CAGR during the forecast period of 2023 to 2033.
Apart from craft beer, yeast is also used in the production of other fermented beverages, such as cider and mead. As the demand for these beverages grows, so does the demand for yeast strains suitable for their fermentation processes.
The COVID-19 pandemic brought about significant changes in consumer behavior and lifestyle patterns, including a notable surge in home baking activities. As more households began baking bread and other baked goods regularly, they needed a steady supply of yeast, contributing to increased sales of fresh and dry yeast products.
In the next decade, the yeast market is anticipated to grow at a substantial rate of 6.1% CAGR. Also, many individuals these days consider cooking, especially baking, therapeutic, which has also made it a family activity. This trend has significantly contributed to the growth of the yeast market in Germany.
Japanese consumers, like the rest of the world, are becoming more health-conscious, and yeast products, especially nutritional yeast, are seen as a source of vitamins, minerals, and protein, contributing to the overall market for yeast and yeast-related products. The Japanese yeast market is, thus, estimated to foresee a notable growth of 5.9% CAGR in the next ten years.
This rapid growth is also linked to the rising popularity of home baking and cooking due to the influence of TV shows and social media. Yeast also has diverse applications in Japanese cuisine beyond bread, including the production of soy sauce, miso, and sake.
The United States is home to one of the largest industrial hubs in the world. As industries focus on eco-friendly solutions, there has been a noticeable expansion in the overall market for yeast in these sectors. Evidently, the USA yeast market will grow at a steady pace of 3.9% CAGR owing to recessionary times in the next ten years.
Yeast is a critical component in the production of bioethanol, a renewable fuel source for industries. As the demand for yeast increases, yeast manufacturing companies are exploring innovative techniques to harness yeast from sustainable production methods.
Due to yeast's easy availability and procurement process, numerous international companies are in the global yeast market. The long shelf life of dry yeast enables yeast manufacturers across the world to store and distribute yeast across international borders.
There is a very limited scope of innovation in the procurement process of yeast as consumers generally prefer untreated and clean yeast products, making the process consistent throughout the ages.
Recent Developments in the Yeast Market:
The global yeast market is estimated at USD 3.83 billion in 2023.
The United States is the largest consumer of yeast and yeast-related products.
The yeast market will grow at a steady pace of 4.6% CAGR, surpassing USD 5.98 billion in 2033.
Fleischmann's RapidRise is the most popular brand for yeast.
The food and beverage industry forms the largest consumer pool for the yeast market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 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. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Form 6.1. Dry Yeast 6.2. Fresh Yeast 6.3. Instant Yeast 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Alltech Inc. 17.2. Ab Mauri 17.3. Ab Vista 17.4. Chr. Hansen 17.5. Bio Springer S.A. 17.6. Angel Co. Ltd 17.7. Cargill Incorporated 17.8. Dsm N.V. 17.9. Kerry Group Plc 17.10. Lesaffre Group 17.11. Royal DSM N.V. 18. Assumptions & Acronyms Used 19. Research Methodology
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Yeast Market
