According to Future Market Insights, the dry yeast market will expand at 7.0% CAGR from 2020-2030. Growth is underpinned by rising awareness about the importance of nutrition-enhanced animal foods. As pet ownership rises, consumers are looking for healthier food options. Dry yeast helps achieve this objective. They assist in improving digestion and reduce the risk of diseases.
More recently, veganism has dictated dietary preferences, owing to growing environmental degradation concerns posed due to production of animal-based foods. Additionally, vegan feeds are richer in nutritional content and improve feed quality. This shifting consumer trend is compelling manufacturers to incorporate dry yeast in animal feed production.
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Palatability is an important factor while selecting animal feeds. Dry yeast helps in this regard by imparting an umami taste, thereby indulging the sensory experience of animals. Based on these trend, the dry yeast market will experience a major uptick across the aforementioned forecast period.
Key Takeaways from FMI’s Dry Yeast Market Report
- Active dry yeast shall be the most extensively used culture to enhance pet feeds in the forecast period
- Rising veganism trends are accelerating organic dry yeast usage
- Global dry yeast market shall surpass US$ 40 Mn by 2020-end
- Dry yeast market has transitioned from being a niche market to a mainstream market
- Europe shall emerge as a revenue powerhouse of the dry yeast market, attributed to surging awareness about healthy foods
Dry Yeast Market- Key Trends
- Rising preference for clean label ingredients by consumers shall underpin dry yeast market growth in the forecast period
- Humanization of pets is bolstering appetite for high quality and premium pet food options, providing traction to the dry yeast market
- Blanket ban on antibiotics usage in animal feeds is auguring demand for dry yeast as an effective substitute
- High prices of yeast-based feeds renders them unaffordable to low and middle-income consumers, restricting growth prospects
Dry Yeast Market- Regional-wise Analysis
- Europe to spearhead the global growth, with France & Germany being primary revenue generators
- Rising demand for clean label foods is stimulating the European dry yeast market growth
- North America accounts for over 1/5th revenue share, exhibiting a CAGR of 6.1% from 2020-2030
- India accounts for 13% of the total dry yeast usage in animal feeds in the Asia-Pacific market
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Dry Yeast Market- Competitive Landscape
Prominent players in the dry yeast market include Bellarise, SAF Instant Yeast, ADY, Kerry Group, ADM, Sensient Technologies Corporation, Associated British Foods, Red Star Active Dry Yeast and Titan Biotech Ltd., to name a few. These players are concentrating on introducing new products to enhance their product portfolio.
Titan Biotech, for instance, manufactures the Yeast Extract Powder Type 1 for usage in non-alcohol based foodstuffs. Likewise, ADM Animal Nutrition introduced yeast protein for animals in 2018. Recently, in 2020, it also launched the NutriPass L encapsulated lysine supplement for bovine animals, especially for lactating cows and growing cattle.
Dry Yeast Market Taxonomy
- Active Dry Yeast
- Inactive Dry Yeast
- Tablet Capsule
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Get Valuable Insights into the Dry Yeast Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global dry yeast Market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the dry yeast market, allowing readers to glean qualitative and quantitative information which will enable them to take informed market decisions in the upcoming forecast period.
Dry Yeast Market Outlook & Key Findings
- Dry yeast market is estimated to be grow at a CAGR of 6.9% during the forecast period 2020-2030
- Pet owners have become increasingly conscious about health & well-being of pets captivating towards organic formulations, unfolding growth opportunities for dry yeast market
- Increasing demand for vegetarian and vegan pet food in European countries
- From being product belonging to a niche segment, dry yeast has transitioned to one of the top performing category in the animal feed industry.
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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