The global yeast ingredients market size is expected to reach USD 2.38 billion by 2020, according to a new report by Grand View Research, Inc., exhibiting a 7.4% CAGR during the forecast period. Increasing use of yeast ingredients in the food and beverage industry, coupled with government initiatives to promote use of these ingredients in food products, is expected to boost the industry over the forecast period.
High demand for yeast ingredients from various application segments such as fermentation, baking, medical, nutritional supplement, and molecular genetics is expected to restrict the availability of yeast as a raw material for the production of ingredients. Hence, raw material availability is a major challenge faced by players in the yeast ingredients market.
Codex Alimentarius is a set of international food standards, codes of practice, and guidelines contributing toward fairness of trade along with quality and safety of the food trade, including yeast extract. As of 2004, EPA approved active ingredients, "Yeast Extract Hydrolysate from Saccharomyces cerevisiae" for plant disease management.
Increasing preference for vegetarian foods is expected to drive the yeast ingredients market owing to rising trend of replacing meat-based bouillons in various sauces and soups by ingredients such as yeast extract.
Changing lifestyle, coupled with rising disposable income of the middle-class population in developing markets of Asia Pacific, has resulted in higher demand for ready-to-make, quick, and easy foods.
Growing consumption of convenience foods among the urban middle-class is also expected to fuel demand for yeast extracts in the food industry. In addition, demand for non-animal protein in feeds is growing, which is expected to drive market growth.
In terms of revenue, yeast extracts are anticipated to amount to USD 785.1 million by 2020, registering a CAGR of 8.1% from 2014 to 2020. Yeast autolysates, on the other hand, are projected to grow at a CAGR of 7.6% over the forecast period
The food industry dominated the global yeast ingredients market in terms of application, accounting for a share of 58.2% in 2013
The North America market is anticipated to reach USD 635.2 million by 2020, while Latin America is projected to witness a remarkable CAGR of 8.1% over the forecast period, owing to rapid developments in the medical and healthcare sector
Some of the key companies in the market are ABF Ingredients; Angel Yeast Co., Ltd.; Anchor Yeast; AB Vista; Alltech Inc.; F. Bio Springerk; Chr. Hansen; Kerry Group; Lallemand Inc.; Leiber GmbH; Lesaffre Group; Organotechnie; DSM; Suboneyo Chemicals Pharmaceuticals Pvt. Ltd.; Synergy Flavors Ltd.; and Becton, Dickinson and Company.
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Grand View Research has segmented the global yeast ingredients market report on the basis of type, application, and region:
- Type Outlook (Revenue, USD Million, 2012 - 2020)
- Application Outlook (Revenue, USD Million, 2012 - 2020)
- Regional Outlook (Revenue, USD Million, 2012 - 2020)
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