Global Yeast and Yeast Ingredients Market - Growth, Trends and Forecasts (2017 - 2022)
Yeast are single celled fungi,and are used in several applications. They are available at the supermarket in edible mushroooms, common baker yeast used to leaven bread and also the molds that produce antibiotics for veterinary and medical use. The yeast and yeast ingredient market is highly competitive and fragmented. Yeast ingredient has a strong implication in the animal feed, pharmaceutical industries, food and biotechnology.The market is estimated to grow at a value of $ 2.36 billion during the forecasted period (2017 - 2022) with a CAGR of 7.3%.
Demand coming from European countries consumers whose preferences are for healthier and natural bakery products. The interest is a noteworthy driver because of the indoor way of life which doesn't give the consumers Vitamin D as EFSA ( European Food Safety Authority ) gauges that significant populace in european countries doesn't meet the recommended daily allowances of 10 Î¼g/day.Similarly, the demand is quite high from the western region, whose preference for processed foods is enormous.The growth for this demand is expected to grow at a large scale due to the rapid population growth and the busy lifestyle. The inclination towards processed food is due to the rising income, less time for preparing home meals, rise in number of women working, growth in the number of nuclear families and increasing discretionary spending. The processed food industry is expected to increase by $315 billion over the next five years to $2.5 trillion, since yeast and yeast ingredient plays an important catalyst in the making of processed foods, the rise of yeast and yeast ingredients is natural.The maturity in alcoholic beverage consumption worldwide, had maintained an evergrowing demand for alcohol production. The demand for yeast was driven by this spike with yeast being one of the major ingridients for the former.
The major restraint is the Shortage of basic raw material with demand from various sectors, due to the molasses trading restrictions in countries of Europe. Another reason for this shortage is the large threat for bio-fuel competition whose prices are very high and it a big challenge for the yeast market.The market also has great potential opportunities like Unexploited market in the developing countries as the demand is growing and the preference for processed foods is high. Another opportunities are the identification of new non-toxic and eco-friendly strains, identification of yeast production methods from industrial waste and higher incidence of application in pet food and dairy industry.
Bakeries, Alcohol breweries, Food processing and Animal feed are some of the sectors where yeast ingredients find their extensive usage. Bakers and beverage industry together, account for over 72% of the total yeast ingredient requirement. Recently with their identified usage in animal nutrition, yeast ingredients have found their place in feed sector. Bakers yeast is most commonly known and employed type for commercial purposes. Yeast cell organelle and brewers yeast are other types of yeast with commodity specific applications. Natural or wild yeast was the first form of yeast engaged, which is mostly trapped in flour & water and is invisible to the naked eye. Other common types of yeast used include, dry yeast which exist in pellet form, fresh yeast which has a crumbly texture and instant/easy to bake yeast. Fresh yeast due to its economic feasibility and ease of raw material is used extensively accounting to over 41% of the entire yeast market share.
Yeast & Yeast Ingredients are used in many applications viz. Bakery, Alcoholic Beverages, Non-alcoholic beverages and Cultured foods. Out of these applications,beer and wine market holds a major share in the yeast and yeast ingredient,as these are the main ingredients for fermentation. Growing application in alcoholic beverages is expected to fuel the market during the forecasted period.Beer is the master choice when it comes to alcoholic beverages and holds about 60% of the market share and wine holds about 17% of the market.The increase in demand for alcoholic beverages, rises the demand for yeast ingredients.
Yeast extracts market is high as they are a replacement for monosodium glutamate as the consumers are now highly inclined towards natural ingredients and health concerns.Yeast extracts also offer a unique aromatic taste which is important in low salt content foodstuffs.Yeast extarcts has a market share of 42%. Yeast beta-glucan is also widely used in variety of medical uses in food and feed. Consumers are additionally leaning toward more veggie lover sustenance which is driving yeast fixing business attributable to rising pattern of substitution of meat-based bouillons by yeast extricates in different soups and sauces.Alcoholic beverages industry is on peak due to its increasing consumption worldwide, due to which the yeast ingredient market is also rising as the usage of yeast ingredient is highly used in beer & wine.
Europe was the biggest regional market for yeast ingredients in 2013 representing for over 36% of the total share and is further expected to grow at a CAGR of 8.1%. Rising functional food consumption with developing dairy industry in the region are key elements incharge for high yeast ingredients demand in the past couple of years. Asia Pacific is expected to witness the speediest growth due to rising awareness regarding healthy & nutritional food consumption along with expanded disposable income of the middle class/white collar class populace. Asia-Pacific market is expected to grow at a CAGR of 8.4%.North America is expected to witness critical development due to rising interest for animal feed, pharmaceuticals and dairy.The North America market is expected to grow at a CAGR of 7.9%.
The yeast & yeast ingredient market is highly concentrated with top ten companies accounting for more than 50% of the market share.The few companies are Angel Yeast Co.,ltd, ABF Ingredients, AB Vista, Chr. Hansen and many more. The leading players in the market are focussed in high R&D to develop high quality of ingredients with more application scope. The profit margin is high due to which the small and medium scale industries are also entering the market. The global market has additionally seen numerous M&A over the recent years which brings about high level of consolidation.
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Market analysis for the Global Yeast & Yeast Ingredient Market, with region specific assessments and competition analysis on a global and regional scale.
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