The increase in applications for the food industries and other industrial sectors,mounting bakery products demand, high-quality animal feed are the major factors driving the yeast market growth.
Additionally, increasing acceptance for bio-ethanol as a substitute fuel as well in the biotechnology and pharmaceutical industries to further praise the market value.
High demand for ready-to-eat foodstuffsalong with convenience food to fuel the yeast market growthrapidly. Increasing awareness about the nourishing value of yeast and its subsequent health benefits to create opportunities for market players.
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Further, cumulative demand for specialty yeast products such as yeast extract, beat glucan yeast and yeast autolysis to pose a positive impact on theyeast market growth.
Yeast extracts are the most consumed specialty yeast products due to their usage as flavoring agents in the food industry. Though currently small, specialty yeast market is touted to register high growth over the forecast period.
Thereplacement of molasses to help in opposing its scarcity as raw material, and also provide opportunities for more yeast-based raw materials to drive the market growth.
However, shortage of raw material to create supply-demand imbalances resultinginchallengestowards the market growth.
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Europe embracesthe major sharefor the yeast market owing to increase in consumption of processed food products, increasing alcohol consumption, and growing awareness about the nutritive value of yeast.
Additionally, Europe currently leads the yeast market growth with countries such as Germany, France, Italy, and the UK, ahead of the Asia Pacific and North America.
Further, major key participants across the globe are continuously engaging in R&D activities to attain product growth and increase application scope in food ingredients and additives.
Moreover, high R&D expenditure and modernizationcompetences coupled with good consumer relations to provide opportunities to market participants over the forecast period 2020-2026.
The rise in demand for bioethanol yeast particularly in Europe and North America coupled with novel launches across the key regions to boost the market size. For example, earlier in 2017, AB Mauri company launched a new business division to offer capabilities across a range of industries, including biofuel, alcohol beverage, and both animal and human nutrition.
Whereas, in 2020, Tarpon River Brewing Launched Series of Barrel-Aged Wild Yeast Beers in the United States.
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Upsurge in the number of novel launches conducted across market players to enhance the yeast market value. For instance, in 2020, Novozymes launches Innova fit yeast technology for ethanol producers to achieve operational targets.
Further, in 2019, Phibro launches a new portfolio of yeast products for ethanolto address the needs of a changing market.
In addition, Novozymes launches Innova® Force in 2019, the most advanced and flexible yeast, available in a cream or dry format.
Moreover,in Japan, Lesaffre launched a semi-dry, frozen yeast product named “ l’hirondelle 1895” in 2019 for bakers and bread makers.
Recently in 2019, Biochem introduced a new RumiPro product line to address the specific nutritional requirements of the ruminants.
leading players of the yeast market include Associated British Food Plc., Lesaffre Group,Lallemand Inc., Bio Springer S.A., Angel Yeast Co. Ltd., Cargill Incorporated, Chr. Hansen Holding A/S, Koninklijke DSM N.V., Alltech, Inc., Leiber GmbH, Oriental Yeast Co., Ltd., and Synergy Flavorsamong others.