Yeast and Yeast Ingredients Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.36 % |
| Fastest Growing Market | North America |
| Largest Market | Asia |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
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Yeast and Yeast Ingredients Market Analysis
The global yeast and yeast ingredients market is valued at USD 2.6 billion for the current year and is projected to register a CAGR of 7.36% during the forecast period.
- The yeast and yeast ingredients find increased application in processed food & beverages due to their several valuable applications. For instance, in pet food applications, yeast ingredients make in-situ flavors and savory aromas and enhance the taste, resulting in increased palatability. Also, the yeast ingredients market in developing countries is evolving due to the rapidly growing demand for livestock products. Yeast extracts are widely used in various fields, namely food flavoring agents and additives, animal feed additives, microbial fermentation, and cosmetic supplements across the globe.
- With improving living standards globally, consumers are now increasingly seeking healthy, nutritious, and safe food options. Players are capitalizing on customers' needs by offering yeast ingredients, considered natural, high-quality products, to meet diverse food flavor requirements with essential dietary nutrients. These factors are thus promoting the enhanced usage of yeast and yeast ingredients across different application areas like food & beverages, pharmaceuticals, food & pet foods, and others across the globe.
- However, specific potential side effects of the use of yeast in different foods and beverages exist. Yeast may cause unpleasant digestive side effects if introduced too quickly. Some yeast products may contain compounds like tyramine, triggering headaches or migraine attacks and sometimes leading to inflammatory bowel disease (IBD). Thus, such side effects may hamper the demand for yeast and yeast ingredients during the study period.
Yeast and Yeast Ingredients Market Trends
Increased Consumption of Bakery and Confectionery Goods
- The significant growth in the bakery and confectionery sector is the major sustenance factor for the rising demand for yeast and yeast ingredients in the modern market. Yeast is a primary ingredient for fermentation in baked goods. It increases the volume and improves the flavor, texture, grain, color, and quality of the final product.
- Convenience, accessibility, and nutrition profiles associated with bakery and confectionery goods further drive their consumption and provide lucrative opportunities for players in the market to expand their consumer base.
- In addition, the rising trend of 'Natural nutrition,' 'healthy living,' and 'organic products' has significantly raised the demand for whole wheat, light, natural and additive-free products. In recent years, the growth in sales of packaged, whole wheat, whole meal, gluten-free, and natural products is an essential indication of this new and healthy living sense.
- As a result, manufacturers are launching organic variants to cater to the needs of health-conscious customers. For instance, Kerry Group plc launched Acryleast Pro in 2022. This non-GMO yeast reduces the levels of acrylamide in a wide range of manufactured and organic food products by up to 90%, according to the company. The ingredients can be applied to recipes like children's biscuits and snacks, baby food, crackers, breads, and soft tortillas.
Asia-Pacific Dominates the Market
- Asia-Pacific holds the largest share of the global yeast and yeast ingredients market. This can be attributed to the increased popularity of baked and confectionery goods in the region over the last few years. A survey by the Ministry of Food and Drug Safety of the Republic of Korea shows that the number of bakeries in South Korea jumped from 18.35 thousand in 2019 to 19.18 in 2021.
- Another significant factor includes growth in household consumption and the youth employment rate. The statistic by the World Bank depicts that the youth employment rate, which analyzes employed 15- to 24-year-olds, was more than 40 percent in Vietnam, China, and Indonesia in 2021.
- Furthermore, the rising application of yeast and yeast ingredients in feed and pet foods supports the market. Dried yeast provides added nutritional content, fulfilling pet dietary requirements. Besides this, players focus on expansions to increase their production capacity and uphold their position in the market. For instance, Japan's Oriental Yeast Company invested INR 900 crore in India through its subsidiary to set up a yeast manufacturing plant in Maharashtra.
Yeast and Yeast Ingredients Industry Overview
The yeast ingredients market is highly competitive in nature with a large number of domestic and multinational players competing for market share. The major players in the global yeast and yeast ingredients market include Associated British Foods plc, DSM, Angel Yeast Co. Ltd, Lesaffre Yeast Corporation, and Lallemand Inc. Innovation in products is a primary strategic approach adopted by these players. Moreover, mergers, expansions, acquisitions, and partnerships with other companies are other key strategies to enhance the company's presence and boost the market.
Yeast and Yeast Ingredients Market Leaders
Associated British Foods plc
DSM
Angel Yeast Co. Ltd.
Lesaffre Yeast Corporation
Lallemand Inc.
*Disclaimer: Major Players sorted in no particular order
Yeast and Yeast Ingredients Market News
- November 2022: Angel Yeast unveiled yeast proteins for plant-based milk and introduced new yeast extract taste products. They also established a new range identity for their yeast extract product series, tailored to meet client requirements, including Angeoboost, AngeoPrime, AngeoPro, Angeotide, Angearom, and Angeocell.
- September 2022: Angel Yeast introduced Premium Dry Yeast at Bakery China to address baking challenges. The company asserted that this product is resistant to high sugar, high salt content, and weak organic acids, effectively overcoming these challenges and ensuring rapid, high-quality fermentation.
- July 2022: Novozymes launched Innova Apex and Innova Turbo as additions to the Innova platform. These solutions are designed to optimize fermentation times, allowing ethanol producers to maximize their fermentation process and achieve their production targets and business objectives.
Yeast and Yeast Ingredients Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Increased Consumption of Baked Goods
4.1.2 Demand for Indigenous Fermented Foods
4.2 Market Restraints
4.2.1 Potential Side-effects of Yeast
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Yeast Extracts
5.1.2 Yeast Autolysates
5.1.3 Yeast Beta-Glucan
5.1.4 Yeast Derivatives
5.2 By Application
5.2.1 Food & Beverages
5.2.1.1 Bakery & Confectionery
5.2.1.2 Beverages
5.2.1.3 Other Food and Beverages
5.2.2 Pharmaceuticals
5.2.3 Feed & Pet Food
5.2.4 Other Applications
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Spain
5.3.2.2 United Kingdom
5.3.2.3 Germany
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 South Africa
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Associated British Foods plc
6.3.2 DSM
6.3.3 Angel Yeast Co. Ltd.
6.3.4 Lesaffre Yeast Corporation
6.3.5 Lallemand Inc.
6.3.6 Synergy Flavors
6.3.7 Sensient Technologies Corporation
6.3.8 BASF SE
6.3.9 Chr. Hansen Holding A/S
6.3.10 Kothari Fermentation And Biochem Ltd.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Yeast and Yeast Ingredients Industry Segmentation
Yeast ingredients provide a range of functions in food manufacturing. It is generally available in different forms, including compressed, dried/granular, cream, and liquid.
The global yeast and yeast ingredients market is segmented by type, application, and geography. By type, the market is segmented into yeast extracts, yeast autolysates, yeast beta-glucan, and yeast derivatives. By application, the market is segmented into food and beverages, pharmaceuticals, feed and pet foods, and other applications. The food and beverage segment is further divided into bakery and confectionery, beverages, and others. By geography, the market is segmented into emerging and established markets across the globe, including North America, Europe, Asia, South America, and Middle East & Africa.
The market sizing has been done in value terms in USD for all the abovementioned segments.
| By Type | |
| Yeast Extracts | |
| Yeast Autolysates | |
| Yeast Beta-Glucan | |
| Yeast Derivatives |
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| Pharmaceuticals | |||||
| Feed & Pet Food | |||||
| Other Applications |
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Yeast and Yeast Ingredients Market Research FAQs
What is the current Global Yeast and Yeast Ingredients Market size?
The Global Yeast and Yeast Ingredients Market is projected to register a CAGR of 7.36% during the forecast period (2024-2029)
Who are the key players in Global Yeast and Yeast Ingredients Market?
Associated British Foods plc, DSM, Angel Yeast Co. Ltd., Lesaffre Yeast Corporation and Lallemand Inc. are the major companies operating in the Global Yeast and Yeast Ingredients Market.
Which is the fastest growing region in Global Yeast and Yeast Ingredients Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Yeast and Yeast Ingredients Market?
In 2024, the Asia accounts for the largest market share in Global Yeast and Yeast Ingredients Market.
What years does this Global Yeast and Yeast Ingredients Market cover?
The report covers the Global Yeast and Yeast Ingredients Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Yeast and Yeast Ingredients Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Yeast and Yeast Ingredients Industry Report
Statistics for the 2024 Yeast and Yeast Ingredients market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Yeast and Yeast Ingredients analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
