The Specialty Yeast market is expected to increase from USD 115.9 Mn in 2022 to USD 241 Mn by 2032 and is likely to record a CAGR of 6.8% during the forecast period from 2022 to 2032.
Many factors influence the growth in the sales of specialty yeast products like growth in women’s employment, growth in the number of the nuclear family, unavailability of time to prepare food due to busy schedules, hectic and busy lifestyles, 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 products with nutritious, functional properties and also serves as a flavor 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.
Information Source: https://www.futuremarketinsights.com/reports/specialty-yeast-market
It includes in-depth insights into the specialty yeast market. 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 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 the 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