Yeast Market Size
The Global Yeast Market size reached USD 4.5 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 9.0 billion by 2030. The market is expected to exhibit a CAGR of 9.2% during the forecast period 2024-2031. Yeast is a versatile microorganism that plays a crucial role in various industries, particularly in food and beverage production.
The most common type of yeast used is Saccharomyces cerevisiae, known for its ability to ferment sugars and produce carbon dioxide, which helps in the leavening and rising of baked goods. Yeast is widely used in baking to create light, fluffy bread, cakes, and pastries.
The yeast market has experienced robust growth in recent years, driven by the rising demand for yeast-based products in various industries. Factors such as the expanding bakery sector, growing craft beer and wine industries, and increasing awareness of plant-based diets have contributed to the market's growth. Additionally, advancements in fermentation technologies and the availability of diverse yeast strains have fueled innovation and product development.
Market Summary
| Metrics | Details |
| CAGR | 9.2% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | By Type, Form, Application, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Rising Demand for Convenient Baking Solutions Drives Growth of the Yeast Market
The yeast market is being driven by the growing demand for convenient and time-saving baking solutions. This trend is primarily attributed to the rising popularity of alternative yeast forms such as active dry yeast, instant yeast, and fresh yeast. These yeast types offer advantages such as easy incorporation into recipes without the need for proofing, shorter fermentation times, and extended shelf life.
As consumers increasingly prioritize convenience in their baking endeavors, the demand for these alternative yeast forms has witnessed significant growth. This market trend is expected to continue as manufacturers expand their product offerings and promote the benefits of these convenient yeast options. The yeast market is adapting to meet the evolving needs of baking enthusiasts and professionals, reflecting the changing consumer preferences and driving the market’s overall growth.
Raw Material Availability and Costs Pose Challenges for the Yeast Market's Growth and Stability
One of the key restraints of the yeast market is the availability and cost of raw materials required for yeast production, such as molasses and other sugar sources. Fluctuations in the prices and availability of these raw materials can significantly impact the production costs of yeast manufacturers. Additionally, factors like weather conditions and agricultural practices can affect the yield and quality of raw materials, further exacerbating supply chain challenges.
Limited availability or increased costs of raw materials can lead to reduced production and potential disruptions in the yeast market as a result the yeast market share is also reduced. Manufacturers must closely monitor and manage these factors to ensure a stable supply of raw materials and mitigate any adverse effects on production and pricing.
Market Segment Analysis
The global yeast market is segmented based on type, form, application, and region.
Baker's Yeast is Leading the Yeast Market with a 70% Market Share, Fueled by Bakery Industry Demand
The global yeast market is segmented based on type into baker's yeast, brewer's yeast, wine yeast, bioethanol yeast, feed yeast, and others.
Baker's yeast, scientifically known as Saccharomyces cerevisiae, holds the largest yeast market share, accounting for approximately 70% of the total market share. This versatile and widely used type of yeast plays a vital role in the baking industry. Statistical data reveals that the bakery sector alone consumes around 60% of the baker's yeast produced globally.
Within the baking industry, bread production constitutes a significant portion, contributing to approximately 40% of the total baker's yeast usage. Furthermore, the confectionery and pastry segments combined account for an estimated 25% of baker's yeast consumption. Other baked goods such as rolls, cakes, and pizza dough utilize the remaining 5% of baker's yeast, showcasing its versatility in various applications. the dominance of baker's yeast in the yeast market highlights its crucial role in delivering the desired texture, flavor, and rise to a wide range of baked products.
Market Geographical Share
Growing Demand for Yeast Products Drives Significant Growth in North America Yeast Market
By region, the global yeast market is segmented into North America, Europe, South America, Asia-Pacific, Middle-east, and Africa.
The yeast market in North America has emerged as the largest in the world, it has witnessed significant growth driven by factors such as yeast fermentation, yeast propagation, and the availability of diverse yeast strains. According to yeast market analysis, a substantial percentage of the population in the region actively utilizes yeast products. The demand for yeast has soared as more people engage in home baking and cooking activities.
Furthermore, the proliferation of craft breweries and the rising popularity of artisanal bread contribute to the growth of the yeast market. With the region's strong emphasis on food and beverage innovation, the North American yeast market share is expected to increase in the coming years.
Yeast Companies
The major global players include Kerry Group, Lesaffre Group, AB Vista, Lallemand Inc., Bio Springer S.A., Angel Yeast Co. Ltd, ADM, Chr. Hansen Holding A/S, Oriental Yeast Co., Ltd., and Pacific Ethanol, Inc.
COVID-19 Impact on Market
The COVID-19 pandemic resulted in a surge in demand for yeast products as home baking and cooking activities increased. Supply chain disruptions posed challenges in sourcing and distribution. Consumption patterns shifted from food service to retail, impacting the market dynamics. Price fluctuations occurred due to supply and demand imbalances. Manufacturers adapted operations to meet the evolving demand and restore supply chains, ensuring the availability of yeast products in the market.
Ukraine-Russia War
During the Ukraine-Russia war, destruction of infrastructure, closed shops, and mass evacuation, the yeast market was paralyzed in the first days of the war. The impossibility of delivering goods by sea greatly complicated the work. Logistics across the country worked with interruptions.
Key Developments
- On August 26, 2021, Angel Yeast Co., a China-based company, established a joint venture (JV) company to invest RMB 100 million (US$15.4 million) to acquire yeast-relevant assets of Shandong Bio Sunkeen Co. As part of the move, Angel Yeast will optimize its production capacity and further consolidate and strengthen its position
- On May 22, 2023, Angel Yeast, the world's leading yeast manufacturer, showcased a wide range of new products and solutions at Bakery China, which ran from May 22 to May 25 in Shanghai. The exhibition is a significant trade show for the industry. As the top player in yeast products, Angel Yeast brought its most relevant products to the expo.
- On September 20, 2022, Angel Yeast, the world’s leading yeast manufacturer announces that it has developed the latest dry yeast product Premium Dry Yeast to address many of today’s baking challenges at Bakery China 2022 — a global largest event serving the entire value chain for the bakery and confectionery market.
Why Purchase the Report?
- To visualize the global yeast market segmentation based on type, form, application, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of yeast market-level with all segments.
- The PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
The global yeast market report would provide approximately 61 tables, 61 figures, and 195 Pages
