Newly released data from Specialty Yeast market analysis by Future Market Insights shows that global consumption of the Specialty Yeast market enjoyed a (compound annual growth rate) CAGR of 6.8% in 2021 to total sales of US$ 115.9 Mn. The boost in the demand for the Specialty Yeast market is mainly due to the rise in the demand for bread-based product consumption such as pizza, burgers, and bread.
Many factors influence the growth in the sales of specialty yeast products like growth in women employment, growth in the number of the nuclear family, unavailability of time to prepare food due to busy schedule, hectic and busy lifestyle, quick and easy preparation and taste and preference of customers. About 56.2% of the global population live in urban areas which host working-class people that have a hectic lifestyle.
Specialty yeast replaces the yeast in processed foods as it provides food product with nutritious, functional properties and also serves as a flavour enhancer. Many packaged goods were launched in 2018, including 28% snacks, 10% soups, and 16% sauces and seasonings using yeast extract as the main ingredient. Hence the growing demand for processed food is, in effect, driving the growth of the market for specialty yeast.
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It includes in-depth insights into the specialty yeast market. Some of these are:
- The estimated value of the market was at 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 the product consumption.
- The specialty yeast market in North America is expanding alongside advancements in the food processing sector of the US.
- Investment in the global specialty yeast market is a nascent trend that has disrupted the growth dynamics of the market.
Coronavirus might Slow Down the Growth of Specialty Yeast Market
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 market 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.
SPECIALTY YEAST MARKET TAXONOMY
The global Specialty Yeast Market 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 (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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