LONDON--(BUSINESS WIRE)--The latest market research report by Technavio on the global yeast market predicts a CAGR of above 9% during the period 2018-2022.
The report segments the global yeast market by application (food and beverage and feed and other yeast applications), by yeast type (baker's yeast, brewer's yeast, feed yeast, and bio-ethanol yeast), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global yeast market, according to Technavio food and beverage researchers:
- Product launches of food and beverages using yeast varieties: a major market driver
- Growing demand for organic yeast offerings: emerging market trend
- EMEA dominated the global yeast market with 38% share in 2017
- In 2017, the food and beverage segment held the highest market share of 61%
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Product launches of food and beverages using yeast varieties: a major market driver
The increase in the demand for end-use sectors is driving the global yeast market. One of the primary drivers of the market is the high demand for specialized yeast, which is used to improve the quality of food and beverages. Yeast helps in accelerating the fermentation process in edibles, thereby imparting improved aroma, flavor, and texture to the product. Therefore, several players in the market are introducing food and beverages using yeast varieties.
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Growing demand for organic yeast offerings: emerging market trend
Organic food ingredients are becoming popular due to the health benefits they offer. At present, the organic food ingredients is a niche segment. High production costs and willingness of consumers to pay extra for products containing organic food ingredients is the primary reason organic food ingredients are cost intensive. This is because consumers are concerned about where their food comes from and the impact it has on the environment and their health. Therefore, organic food ingredients are becoming more popular among consumers.
According to a senior analyst at Technavio for research on food, “Players in the market are launching organic yeast that focuses on the growing need for clean and simple ingredients and delivering flavor enhancement and taste modification. Several players are expected to launch organic yeast offerings as the overall demand for organic food ingredients is increasing at a fast pace during the forecast period.”
Global market opportunities
In terms of regional dominance, EMEA led the global yeast market, followed by the Americas and APAC in 2017. The market share of EMEA is expected to increase by 2022.
In the Americas, the overall consumption of bakery products and alcoholic beverages like beer and wine is high, and this is driving the market. Similarly, in APAC, factors such as high demand for convenience foods, changes in eating trends, and rising disposable incomes, is expected to drive the market.
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