(Entertainment-NewsWire.com, August 17, 2021 ) Yeast is a collection of microorganisms called sac fungi that replicates using their spores as the source of reproduction. Yeast has witnessed increased application in recent years owing to the elevating demand from the end-user sectors such as food and feed. The food industry as a mass has seen a rise in fermented food products such as yoghurt, pickles, sauces, and some traditional Asian foods such as Kimchi and Kempeh. According to the Renub Research, Global Yeast Market will reach US$ 7.59 Billion by 2027.
Some of the significant types of yeast available in the global market are brewer’s yeast, baker’s yeast, wine yeast and feed yeast. Indeed, across different regions, particularly in Asia-Pacific, there is a massive market for baker’s yeast, as it is extensively utilized to enhance bakery goods' quality. The application of compressed yeasts globally in the bakery industry is growing faster due to the extended consumer inclination for convenience and packed food products. As per our analysis, Worldwide Yeast Industry is anticipated to expand at a CAGR of 8.10% during the forecast period 2020-2027.
Moreover, the commercialization of yeast has gathered forces on the back of the advancing industrial use in food and feed production, where the numerous varieties of yeasts are used as an additive. Widespread demand for bakery products in different parts of the world has offered a robust fillip to the utilization of yeasts. Contrarily, the consumption of feed yeast has also gained momentum from the rising demand for yeast-based feed commodities in the livestock industry. Focus on promoting the health of animals is the primary purpose of feeding livestock with yeast.
Some of the chief geographical markets comprise North America, Europe and the Asia Pacific. Numerous developed and developing countries in these regions have been a hotspot of opportunities for players in the global yeast market. Growing initiatives on trying new yeast recipes in home brewing and winemaking in developed countries, such as in North America, have strengthened the yeast market's growth potential.
Further, Asia Pacific has seen a rapidly rising utilization of yeast in meeting the needs of a wide diversity of bakery products. Europe has also seen strong uptake of yeast-based feed products in the wine industry. The surge in feed manufacture in European nations has eased ramped up lucrative opportunities for yeast manufacturers. The regional market is anticipated to surge at promising potential during the forecasted period. As per our estimation, it is projected that Global Yeast Market Size was US$ 4.40 Billion in 2020.
Innovations in the food and feed industry have been escalating engagement in the yeast market, with enthusiastic players nudging for getting a stronghold. Remarkable key players existing in the Global Yeast Market are Associated British Foods Plc, Chr. Hansen Holding A/S, Koninklijke DSM N.V., Kerry Group and Novozymes.
Yeast Market Key Developments
Beer connoisseurs are launching new flavours in beer with yeast. In recent months of lockdown due to the pandemic, interest in cultivating wild yeast has reinvigorated attention in the yeast market. A small number of people in evolved nations have taken to fantastic yeast starters in home brewing.
Such initiatives are no doubt stimulating interest in the potential of the yeast market. A notable trend here is the use of cell phone apps to identify the required yeast species used in home brewing. Brewing companies in the U.S. have comprehended such trends augmenting remarkable attention among beer lovers.
Amidst the COVID-19 outbreak, major yeast companies focus on healthier product development to promote people’s health and wellbeing by reducing salt content, cutting saturated fats and reducing sugar. With increased time at home and the shutdown of the food outlets outside, a rediscovery of baking and making bread took off across the globe. The demand for yeast has been growing at slow rate compared with pre-COVID-19 levels and at the same as per our analysis the market growth rate will rise during forecast period.
Renub Research latest report titled “Yeast Market, Global Forecast by Types (Brewer’s Yeast, Baker’s Yeast, Wine Yeast and Feed Yeast), Application (Food, Feed and Others), Region (North America, Europe, Asia Pacific and Rest of the World), and Company (Associated British Foods Plc, Chr. Hansen Holding A/S, Koninklijke DSM N.V., Kerry Group and Novozymes)" provides a detailed analysis of Global Yeast Industry.
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