Yeast ingredients are a crucial element used to leaven baked goods and provide flavor, texture and preservation in food products. Yeast ingredients such as yeast extracts, yeast autolysates, and yeast beta-glucan are increasingly being used in bakery products, processed foods, beverages, animal feed and more. They provide multiple advantages like improved texture, extended shelf-life and enhanced nutritional value to food products. The growing demand for convenience and processed foods has been a major factor driving the uptake of yeast ingredients globally.
The Global Yeast Ingredients Market is estimated to be valued at US$ 2.98 billion in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the yeast ingredients market are Lesaffre, Associated British Foods plc (ABF), Archer Daniels Midland Company (ADM), Lallemand Inc., Angel Yeast Co., Ltd., Koninklijke DSM N.V., BASF SE, BioCare Copenhagen, Synergy Flavors, Alltech, Inc., Nutraceutical Corporation, AAK AB, Hain Celestial Group, Inc., Kemin Industries, Inc., and Yeast & Co. Ltd.
Yeast Ingredients Market Growth include expansion into developing Asian and Latin American markets as well as product innovation to cater to the changing tastes and preferences of consumers globally. Major yeast ingredients producers are focusing on global expansion through partnerships, mergers and acquisitions to gain a larger market share. Angel Yeast recently expanded its production facility in China to meet the growing demand from the food and feed market.
Market drivers:
The increasing consumption of packaged foods and beverages globally has been a major driver of yeast ingredient market growth. Busy lifestyles and preference for convenience foods have contributed significantly to the demand for bakery and packaged food products boosted by yeast ingredients. According to data, globally over 80% of packaged breads and baked goods now incorporate yeast ingredients.
Market restraints:
Fluctuating raw material prices particularly of wheat and corn due to changing climate conditions can restraint market growth by increasing production costs. Changing consumer preferences towards natural ingredients also act as a challenge for market players to innovate and develop clean label yeast ingredient formulations.
Segment Analysis
The dried yeast segment currently dominates the yeast ingredients market owing to its widespread applications in food, beverages and other industries. Dried yeast is affordable and has a long shelf-life making it suitable for large-scale production. The fresh yeast segment is expected to witness higher growth during the forecast period driven by the rising demand for fresh bakery products and an increasing number ofbakeries and restaurants. The yeast extracts and autolyzed yeast segments are still niche but will grow faster owing to their rich nutritional value and versatility. Autolysed yeast finds usage in the manufacturing of seasoning blends and sauces.
Global Analysis
The Asia Pacific region accounts for the largest share in the yeast ingredients market led by China, India and other Southeast Asian countries. Rapid urbanization, growing disposable income and changing lifestyles have boosted the demand for packaged and processed foods in the region. Europe is another major regional market driven by well-established food processing industries and rising health-consciousness. North America is expected to offer lucrative opportunities for market players owing to the presence of numerous global food brands. Regions like Latin America and the Middle East & Africa are projected to showcase high growth on account of improving economic conditions and increasing food expenditure.
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