Yeast Ingredients Market to Reach $6.6 Billion Globally by 2032 at 8.8% CAGR: Allied Market Research
The growing utilization of yeast ingredients in the food industry and the increasing demand for ready-to-eat food products worldwide are projected to drive the global yeast ingredients market’s growth during the forecast period. The Europe region is predicted to witness prominent growth by 2032.
/EIN News/ -- Wilmington, Delaware, April 23, 2024 (GLOBE NEWSWIRE) -- Allied Market Research has recently published a report, titled, “Yeast Ingredients Market Size, Share, Competitive Landscape and Trend Analysis Report by Product, by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global yeast ingredients market generated $2.9 billion in 2022, and is anticipated to generate $6.6 billion by 2032, rising at a CAGR of 8.8% from 2023 to 2032.
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Prime Determinants of Growth
The rising demand for processed food & beverages, increasing preference for natural additives & ingredients in bakery & functional foods, and the significant growth in the food industry are the factors expected to drive the growth of the global yeast ingredients market in the forecast period from 2023 to 2032. However, the potential for allergic reactions and the scarcity of raw materials may restrict market growth in the coming future. On the contrary, the growing awareness among consumers about the nutritional supplements value of yeast extracts and diversification of applications in pharmaceuticals & animal feed are expected to offer remunerative opportunities for the expansion of the yeast ingredients market during the forecast period.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $2.9 billion |
| Market Size in 2032 | $6.6 billion |
| CAGR | 8.8% |
| No. of Pages in Report | 290 |
| Segments covered | Product, Application, and Region |
| Drivers |
|
| Opportunities |
|
| Restraints | Potential for allergic reactions |
Product: Yeast Extracts Sub-segment to Flourish Immensely by 2032
The yeast extracts sub-segment accounted for the largest global yeast ingredients market share of 28.5% in 2022 and is expected to hold major market share by 2032. This dominance is mainly due to the vital role of yeast extracts as a primary ingredient in the bakery & brewing industries. Besides, its increased utilization in biofuel manufacturing and probiotics has significantly contributed to the sub-segment's growth. Moreover, the rising preference for nutritional foods worldwide is anticipated to further boost the demand for yeast extracts.
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Application: Food and Beverages Sub-segment to be the Most Dominant During the Forecast Period
The food and beverages sub-segment held the largest market share of 34.7% in 2022 and is expected to rise at the highest CAGR of 10.2% during the forecast period. This dominance is majorly owing to the essential role of yeast ingredients in brewing and breadmaking in the food & beverage industry. Besides, the consumer shift towards natural ingredients in food is resulting in the rising demand for yeast ingredients. Moreover, the growing demand for processed foods & beverages, especially in the developing countries, is expected to fortify the growth of the sub-segment in the coming future.
Region: Europe Market to Hold Major Share by 2032
The yeast ingredients market in the Europe region accounted for the largest share of 41.3% in 2022 and is predicted to continue to maintain its dominance during the forecast period. This growth is mainly owing to the increasing demand for natural & healthier natural food options from consumers in the region. Besides, the rising trend towards healthier and lighter food choices is demanding manufacturers to modify their processes, which is predicted to further boost the demand for yeast ingredients.
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Leading Players in the Yeast Ingredients Market:
- ABF Ingredients
- ecplaza network inc.
- Alltech
- Lallemand Inc.
- Kerry Group plc.
- Foodchem International Corporation
- Lallemand, Inc.
- AB Vista
- Angelyeast Co., Ltd.
- Cangzhou YaTai Commercial & Trade Co., Ltd
The report provides a detailed analysis of the key players of the global yeast ingredients market. These players are employing various strategies including launching new products, entering collaborations, expanding operations, forming joint ventures, and signing agreements, all aimed at boosting their market share and securing their competitive position across different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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