Yeast Market Share, Growth, Key Players and CAGR of 8.86% Worldwide Foresight to 2023
Research Reports
Jan 06, 2021
Market Synopsis
Yeast are single-celled fungi. They are found globally in soils and on plant surfaces and are especially abundant in sugary mediums such as flower nectar and fruits. There are wide varieties of yeast present across the globe and are used commercially based on their potential industrial applications. Ascomycete yeasts are the most common of all and are used in the production of bread, beer, wine, and others. Saccharomyces cerevisiae is one of the major strains of yeast which has diverse application across various industries that are food, beverage, feed, and others.
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Based on the type, baker’s yeast is dominating the market owing to its increasing application in bakery products as a leavening agent. Moreover, baker’s yeast is witnessed to hold a major market share of 32.81% in Europe in the year 2017. On the basis of form, the instant form of yeast is expected to witness the highest growth rate of 9.32% on the global level. Additionally, yeast market is projected to grow at a CAGR of 9.40% in the application of feed segment over the forecast period.
Major Key Players
Some of the key players profiled in the Global Yeast Market are Associated British Foods PLC (U.K), Chr. Hansen A S (Denmark), Angel Yeast (China), Lallemand Inc. (Canada), Lesaffre (France), Leiber GmbH (Germany), Novozymes (Denmark), Koninklijke DSM N.V. (The Netherlands), Kerry Group PLC (Ireland), Synergy Flavors (U.S.), Kothari Fermentation and Biochem Ltd. (India), Omega Yeast Labs, LLC (U.S.), Pak Group (U.S.), Oriental Yeast Co., Ltd. (Japan), BSG CraftBrewing (U.S.)
Segment
On the basis of the type, it is segmented into baker’s yeast, brewer’s yeast, wine yeast, feed yeast, bioethanol yeast, and others. Among the types, the baker’s yeast is estimated to account for the major market proportion of 44.24% in the year of 2017. However, bioethanol yeast is projected to be the fastest growing segment during the forecast period of 2017-2023.
On the basis of the application, it is segmented into foods, beverages, feed, and others. The food segment is dominating with the market share of 44.41% in the year 2017. However, the feed segment is expected to be the fastest growing segment during the forecast period.
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Regional Analysis
Yeast Market is segmented into Europe, North America, Asia Pacific, and RoW. Among these, Europe is estimated to account for the highest market proportion of 33.02% in the year of 2017 and the trend is expected to continue throughout the forecast period. High consumption of bakery goods and fermented alcoholic beverages in Germany followed by France and Italy has supported the growth of yeast market in Europe. However, the North American region is projected to expand at a high growth of 9.52% during the forecast period of 2020-2023.
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