Yeast Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Yeast Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global yeast market size reached US$ 6.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.7 Billion by 2028, exhibiting a growth rate (CAGR) of 7.8% during 2023-2028.

Yeast is a eukaryotic, microscopic fungus comprising single oval cells that reproduce through budding and can convert sugar into carbon dioxide and alcohol. It is found in several items, including snack flavoring, bakery products, alcoholic beverages, meat products, salty foods, sauces, and nutritional supplements. As it is a good source of vitamins and high dietary proteins, yeast is extensively used in the preparation of different food products.

Yeast Market Trends:

The growing global population and the burgeoning food and beverage (F&B) industry represent one of the key factors positively influencing the market. Yeast plays a vital role in enhancing the quality, aroma, texture, and flavor of the product and in accelerating the fermentation process. In addition, the rising consumption of bakery products and alcoholic beverages is catalyzing the demand for yeast. Apart from this, the increasing awareness among individuals about the high nutritional value and health benefits of inactivated nutritional yeast is creating a positive outlook for the market. It also assists in boosting energy levels, supporting the immune system, improving glucose sensitivity, and promoting skin, hair, and nail growth. Along with this, the increasing utilization of yeast in producing ethanol in the biofuel industry is offering lucrative growth opportunities to manufacturers. This, in confluence with the expanding applications of the product in bioremediation and removal of heavy metals from wastewater, is strengthening the market growth. Besides this, the rising usage of nutritional yeast, especially from the vegan population, is offering a favorable market outlook. Moreover, increasing investments by leading market players in research and development (R&D) activities is leading to the introduction of novel capabilities to develop new yeast products and extend the substrate range.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global yeast market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on form, type and application.

Breakup by Form:

Dry Yeast 
Instant Yeast
Fresh Yeast
Others

Fresh yeast currently dominates the market as it is extensively used in making bread due to its long-lasting active reaction as compared to dried yeast. 

Breakup by Type:

Baker’s Yeast 
Brewer’s Yeast
Wine Yeast
Bioethanol Yeast
Feed Yeast
Others

Baker’s yeast represents the largest type as it helps in leavening baked products and imparting aroma and flavor to baked goods. 

Breakup by Application:

Food

Bakery
Alcoholic Beverages
Prepared Food
Others

Feed
Other Applications

The food industry presently holds the largest market share as yeast is an excellent source of vitamins, minerals, and high-quality protein.

Breakup by Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Europe exhibits a clear dominance in the market due to the increasing demand for processed food and bakery products in the region.

Competitive Landscape:

The report has also analyzed the competitive landscape of the market with some of the key players being Associated British Foods Plc, Lesaffre & CIE, Angel Yeast Co., Ltd, Cargill, Incorporated, Chr. Hansen A/S, Alltech Group, Lallemand Inc., Koninklijke DSM N.V., Nutreco N.V., Kerry Group plc, Synergy Flavors, Inc., The Archer Daniels Midland Company, Oriental Yeast Company Limited, Diamond V Mills, Inc. (Diamond V), Pacific Ethanol, Inc., Leiber GmbH, etc.

Key Questions Answered in This Report:

What was the size of the global yeast market in 2022?

What is the expected growth rate of the global yeast market during 2023-2028?

What are the key factors driving the global yeast market?

What has been the impact of COVID-19 on the global yeast market?

What is the breakup of the global yeast market based on the form?

What is the breakup of the global yeast market based on the type?

What is the breakup of the global yeast market based on the application?

What are the key regions in the global yeast market?

Who are the key players/companies in the global yeast market?