The Specialty Yeast market is set to grow to US$ 241 million by 2032 from US$ 115.9 million in 2022, at a 6.8% CAGR. Factors like busy lifestyles, urbanization, and evolving tastes are boosting sales of specialty yeast products
The Specialty Yeast market is expected to increase from US$ 115.9 Million in 2022 to US$ 241 Million by 2032 and is likely to record a CAGR of 6.8% during the forecast period from 2022 to 2032.
A few of the factors driving the rise in sales of speciality yeast products are the number of working women, the rise in nuclear families, the lack of time spent preparing meals due to busy schedules and busy lifestyles, the simplicity and speed of preparation, and customer preferences and tastes. 56.2% of the world’s population resides in cities, where they coexist with working-class residents who are actively involved in society.
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Specialty yeast takes the role of the yeast found in processed foods since it gives food products nourishing and useful qualities as well as enhancing flavour. 2018 saw the introduction of many packaged items, including 28% snacks, 10% soups, and 16% sauces and spices with yeast extract as the primary component. As a result, the market for speciality yeast is expanding as a result of the rising demand for processed foods.
It includes in-depth insights into the specialty yeast industry. Some of these are:
- The estimated value of the market was US$ 2,039.8 Mn in 2022. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- Europe is projected to dominate the specialty yeast industry growth over the assessment timeline.
- The regional growth can be credited to the rise in the intake of alcoholic beverages along with the increase in customer knowledge about the health advantages derived due to product consumption.
- The specialty yeast industry in North America is expanding alongside advancements in the food processing sector of the US.
- Investment in the global specialty yeast industry is a nascent trend that has disrupted the growth dynamics of the market.
Coronavirus might Slow Down the Growth of the Specialty Yeast Industry
The soaring degree of coronavirus spread has made consumers wary about their spending habits. As globally governments have enforced directives to curb the spread, recommendations for reduced travel, “social distancing” and other safety habits will compel consumers to make tough choices about eating away from home, placing order online or even home cooked meals. This will in turn have a considerable impact on the market and sales in the market. Declining spending power across the globe owing to the evolving recession and short-time appreciation of dollars led to significant decline in exports and imports.
Who is Winning?
Some of the major players of the global specialty yeast industry are Chr. Hansen Holding A/S, Archer Daniels Midland, Lallemand, Kerry Group, Lesaffre, Synergy Flavors, Angel Yeast, AB Mauri, Koninklijke DSM N.V., Levex and others. Specialty yeast widely used in various food applications will increase due to its unique taste, natural flavoring and other functional properties and demand for specialty yeast products, providing manufacturers with a greater opportunity to gain future growth in the market for specialty yeast.
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SPECIALTY YEAST MARKET TAXONOMY
The global Specialty Yeast Industry is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
Product Type:
- Yeast Extract
- Yeast Autolysate
- Yeast Beta-Glucan
- Others
Species:
- Saccharomyces C
- Pichia Pastoris
- Kluyveromyces
- Others
Application:
- Food
- Beverages
- Feed
- Others
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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Key Questions Answered in the Report
- How much is the Specialty Yeast market currently worth?
- At what CAGR is the market expected to grow?
- How was the performance in the last five years?
- What are the key trends boosting Pea starch sales?
- How are market players reacting to the new developments in the market?
- How much share do the top 5 companies hold?
- Which are the major countries driving demand for specialty yeast?
- Who are the major players in the Specialty Yeast Market?
- At what rate will the U.S. Specialty Yeast market grow?
- At what level does the report reflect pricing analysis?
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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