Yeast and Yeast Extract Market Revenue | Key Players Review and Forecast to 2024

Market Analysis

Global Yeast and Yeast Extract Market Revenue is expected to rise to a valuation of USD 7.88 billion by 2024, exhibiting a robust 7.5% CAGR over the forecast period from 2019 to 2024, according to the latest research report from Market Research Future (MRFR). The global yeast and yeast extracts market is primarily driven by the growing demand for fermented food and beverages.

The growing demand for bread and other bakery products is expected to be a major driver for the global yeast and yeast extracts market over the forecast period. With steady urbanization, the demand for bread has grown in developed as well as developing countries. While bread is a primarily Western food, its popularity in Eastern areas of the world has also grown in recent years. The easy preparation of bread, its agreeable taste, and versatile usability in a variety of recipes have made it highly popular in emerging Southeast Asian countries. This is likely to be a major driver for the global yeast and yeast extracts market over the forecast period.

The growing demand for beer and wine is also likely to be a key driver for the global Yeast and Yeast Extract Market Revenue over the forecast period. Beer is one of the oldest alcoholic beverages produced by man, leading to a strong tradition of beer drinking in several parts of the world. The important role played by yeast in producing beer has led to the yeast and yeast extracts market gaining solid growth prospects due to the growing scope of the global beer industry. The increasing demand for beer in regions where it hasn’t been a traditional drink is likely to be a major driver for the global yeast and yeast extracts market over the forecast period.

Competitive Analysis

Leading players in the Global Yeast and Yeast Extract Market Revenue include Angel Yeast Co. Ltd., Kerry Group, Chr. Hansen, Leiber GmbH, Lallemand Inc., Synergy Flavors, British Foods plc, Lesaffre Group, and DSM N.V.

In April 2019, the U.S. CDC announced the emergence of a drug-resistant strain of yeast as a global emerging threat.

Segmentation

Yeast and Yeast Extracts Market is segmented based on type, application, product type, and form.

By type, the yeast and yeast extracts market is segmented into baker’s yeast, brewer’s yeast, and wine yeast. Baker’s yeast holds the largest share in the global yeast and yeast extracts market. However, brewer’s yeast is expected to exhibit a higher growth rate over the forecast period.

Based on application, the yeast and yeast extracts market is segmented into food and beverages, animal feed, pharmaceuticals, and intermediary suppliers. Food and beverages is the leading segment of the global yeast and yeast extracts market and is also expected to exhibit the highest CAGR over the forecast period.

Global Yeast and Yeast Extract Market Revenue based on product type, and is classified into yeast autolysates, yeast beta-glucan and yeast derivatives. Yeast autolysates is the leading segment of the global yeast and yeast extracts market and is also expected to exhibit the highest CAGR over the forecast period.

The yeast and yeast extracts market, based on form, and is segmented into dry yeast and instant yeast. Dry yeast is likely to remain the dominant segment over the forecast period, exhibiting the highest CAGR over the forecast period.

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Regional Analysis

Europe dominates the global Yeast and Yeast Extract Market Revenue thanks to the widespread popularity of bread and other bakery products in Europe. Bakery traditions in Europe go back hundreds of years, leading to the establishment of a stable supply and distribution network for yeast all over the region. Beer and wine production are also major industries in Europe, leading to widespread usage of yeast and yeast extracts in those applications as well. The growing disposable income of consumers in the region is likely to further drive the yeast and yeast extracts market in the region over the forecast period. The Europe market for yeast and yeast extracts is expected to exhibit a robust 7.36% CAGR over the forecast period.

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