Global Yeast and Yeast Extract Market is projected to grow at a significant rate of 7.5% and hold a market value of USD 3.98 billion during the forecast period from 2019 to 2024. The versatile properties of yeast have led to an exponential rise in the market graph. Yeast is the most important ingredient for cooking several food items such as pasta, bread, and Indian cuisines like DOSA, IDLI, etc.
As per the analysis by Market Research Future Reports (MRFR), the global yeast and yeast extract market 2020 is primarily driven by the spurring demand for alcoholic beverages for beer and wine, along with the growing demand for non-alcoholic beverages comprising of kombucha, kumis, and kefir. Further, the demand for yeast & yeast extract is surging in industries like animal feed, food and beverages, academics and research institutes, and pharmaceuticals. The easy procurement of resources such as saccharides and other sugar derivatives at an affordable price is anticipated to escalate the yeast extract market during the forecast period.
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On the contrary, the rules and regulated implemented with respect to food safety regulations for the application of red yeast extract product is estimated to be the most significant factor inhibiting the market growth. However, the spurring demand for bakery products, the growing demand for bioethanol as a fuel, is likely to battle the obstructing factor.
The renowned players of the Global Yeast and Yeast Extracts Market are British Foods PLC (U.K.), Angel Yeast Co., Ltd (China), Chr. Hansen (Denmark), Kerry Group (Republic of Ireland), Dsm N.V (Netherlands), Lesaffre Group (France), Lallemand Inc (Canada), Leiber Gmbh (Germany), and Synergy Flavors (Ireland).
The segment study of the Global Yeast and Yeast Extract Market is done by the application, forms, type, and product types.
Based on application, the Global Yeast and Yeast Extract Market is segmented into animal feed, academics and research institutes, food & beverages, and pharmaceuticals & intermediary supplies.
Based on forms, the global yeast and yeast extract market is segmented into dry yeast and instant yeast.
Based on type, the global yeast and yeast extract market is segmented into feed yeast, brewer’s yeast, baker’s yeast, wine yeast, and others.
Based on product types, the global yeast and yeast extract market is segmented into brewers, bakers, and wine.
Based on the region, the global yeast and yeast extract market is segmented into North America, Europe, Asia-Pacific, and the Middle East and Africa. The market in North America is estimated to lead the global yeast and yeast extract market on account of increased demand for natural additive. Further, the growing application of yeast in the bakery is projected to propel the regional market during the assessment period.
The APAC region is predicted to grow at the highest CAGR during the assessment period owing to the increasing population, rising disposable income, and the rapid urbanization occurring in the region. Further, the surged demand for processed food items such as confectionaries, baked products, in the region is projected to enhance the regional market.
The European market is projected to witness a significant rise due to the changing lifestyles and increased disposable income. Further, the consumption of processed food products, alcohol, and rising health awareness is anticipated to boost the regional market during the forecast period.
The MEA region is predicted to acquire the least market share during the forecast period owing to the slow-developing countries. However, the growing popularity of yeast is projected to drive the regional market.
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