2022-2028 is the forecast period in the market report.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global specialty yeast market. In addition, complete analysis of changes on the global specialty yeast market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market.
Rising consumption of alcoholic beverages is one of the major drivers of the specialty yeast market. Global consumption of alcoholic beverages such as wine and beer has increased in recent years; since yeast is an essential part of production, the demand for yeast is increasing. Hence, growing demand for premium products from wine and beer is driving the specialty yeast market. On the other side, rapid urbanization in developing countries has led to a huge development in food and beverage industry and it is expected to drive the growth of the market during the estimated time period.
The market is also expected to have new opportunity with the technological advancements & ongoing R&D activities involved in manufacturing of specialty yeast products is expected to provide ample new growth opportunities for the growth of the market during the forecast period. Besides, emerging features and new technologies has gained major attention of end user segment and this factor is expected to provide rising new growth opportunities for the market over the forecast period.
According to the United States Food and Drug Administration (FDA), red yeast rice products containing more than a certain level of monacolin K cannot legally be sold as dietary supplements. Some red yeast rice products contain the toxic contaminant "citrinin", which can lead to kidney failure. This involves potential side effects that consumers should be aware of when supplied as dietary supplements. Labelling regulations for these products are very strict in European countries. These are the key factors which are expected to restrain the growth of the market over the forecast period.
Lack of transparency in patent protection laws and regulatory compliance in several developing countries leads to product duplication, which in turn hampers the quality of the final product. The growing demand for specialty yeast in the market, both globally and nationally, is fuelling the increase of duplicate products in the market. The rise in cases of adulteration is favoured by the difficulty of distinguishing between natural and synthetic yeast, which is a major concern for specialty yeast producers. There are many local players, especially in developing countries, producing yeast-based food and feed that are not recognized brands. These manufacturers sell their products at a lower price than the actual specialty yeast product and make a profit. Manufacturers of specialty yeast products are affected by the low cost, which hampers the growth of the overall market. The Covid-19 pandemic has also hampered the growth of market to major extent which has created a major challenges for the market growth.
The report provides in-depth analysis of global specialty yeast market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various specialty yeast in various applications has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2022-2028.
The global specialty yeast market comprises of different market segments like type, species, application and geography.
By type, the specialty yeast market includes the key segments of
The yeast extracts segment is expected to dominate the market over the forecast period. From stews to rich sauces and marinated meats, the savoury dishes are very popular. Yeast extract is an extremely versatile ingredient that gives them a savoury flavour and its taste properties make it an especially common ingredient in soups, sauces and ready meals, as well as snacks and meat dishes. Its aromatic taste perfectly complements and enriches food. Additionally, yeast extract is particularly popular as a key ingredient in various vegetarian spreads, which typically contain salt, herbal extracts, and spices. The yeast extract gives low-salt dishes a depth of flavour. Yeast extract can therefore contribute to a low-salt diet. The yeast extract perfectly matches the taste of many food products and dishes and gives them the finishing touch in a completely natural way.
By species, the specialty yeast market is segmented into
Saccharomyces cerevisiae is anticipated to lead the market over the estimated time period. It is involved in the production of many fermented beverages such as wine, beer, and cider. It is also used in production of distilled beverages such as rum, vodka, whiskey, brandy etc. S. cerevisiae is used in baking. Saccharomyces cerevisiae is the main source of nutritional yeast sold commercially as a food product. It is popular with vegans and vegetarians as an ingredient in cheese substitutes or as a general food additive as a source of vitamins and minerals, especially amino acids and B-complex vitamins. Due to the used of saccharomyces cerevisiae in multiple food and beverages, it is expected to lead in the market growth over the forecast period.
The specialty yeast market has major applications like
The bakery products segment is expected to exhibit highest growth over the estimated time period. Yeast not only helps baked goods rise, but also adds flavour. For example, when yeast reacts with sugar and flour in a bread recipe, a fermentation process begins, releasing carbon dioxide and alcohol. Bread dough traps gas and expands due to its elasticity. The alcohol produced by the yeast, on the other hand, adds flavour to the bread. The wide-spread use of speciality yeast in most bakery products is a key factor which is expected to drive the growth of the segment.
The global Specialty Yeast market is studied for the following region
Asia Pacific region is expected to exhibit highest growth in the market over the forecast period. The growth in this region is mainly attributed to the increased awareness of natural food ingredients, which has led to the adoption of specialty yeasts in the region. The popularity of domestic consumption of traditionally fermented foods in the region has also contributed significantly to the growth of the specialty yeast industry in the region. Asia Pacific is anticipated to witness increasing demand for specialty yeast owing to presence to well established market players. Also, presence of developed economies like China, India and Japan are further contributing healthy growth in the market. Besides, increasing sales and distribution of market is expected to fuel the market. Also, North America is anticipated to hold second position in the market followed by Europe. Europe is likely to have growth at healthy growth rate.
The competitive landscape analysis of specialty yeast market is majorly focused on expanding the global growth of specialty yeast with new product innovation, business expansion, increasing presence of range of manufacturers operating in specialty yeast has led the growing demand for the market. Besides, the market offers range of products in different application to fulfil the required demand of consumer which is further contributing healthy growth in the market.
The key players studied in market are
May 2022: Red Star Yeast Co. in collaboration with Lesaffre and ADM, had announced its expansion plans with the opening of a new manufacturing plant in Cedar Rapids, US. This key expansion included a new yeast fermenter and is expected to significantly enhance the production capabilities of the company.
December 2021: Lallemand Inc. had announced the launch of three new yeast extracts for plant-based formulations: Savor-Lyfe PH 04, Savor-Lyfe PS 05, and Savor-Lyfe PR 06, in response to the rising demand from consumers for an authentic meat experience along with a sustainable meal option.
Sizing for Year:||2021-2028|
Players and its Competitors:|
Associated British Foods Plc (UK)
Lallemand Inc. (Canada)
AngelYeast Co., Ltd (China)
Chr. Hansen Holding A/S (Denmark)
Kerry Group Plc. (Ireland)
Synergy Flavors (US)
Kemin Industries, Inc. (US)
AB Mauri India Pvt.Ltd. (India)
KOHJIN Life Sciences Co., Ltd. (Japan)
Halcyon Proteins Pty. Ltd. (Australia)
Jeevan Biotech (India)
Titan Biotech (India)
Agrano GmbH & Co. KG (Germany)Levex (Japan)
FREQUENTLY ASKED QUESTIONS
What would be forecast period in the market report?
2022-2028 is the forecast period in the market report.
Which is the leading application segment for Specialty Yeast market?
The bakery products segment has accounted the major market share, and is expected to witness the growth at highest pace during the forecast period.
Which region is gaining majority of market share during the forecast period (2021-2028)?
Asia Pacific is expected to gain major market share during the forecast period (2021-2028).