The yeast industry has substantial impact on food & beverage production. These products are gaining importance owing to their increased usage in commodities which are high in demand. The overall market for yeast is likely to cross over USD 4.2 billion by 2020. In addition, the industry is growing at a CAGR of over 9.0% from 2015 to 2020.
Mounting cost of food items like vegetables and fruits will drive yeast market demand over the forecast period. Bakery sector coupled with production of alcoholic beverages are highly impacting the yeast market growth. For manufacturing clean fuels, a particular species of yeast is used of bio-ethanol production has gained popularity in the past few years. Environmental agencies are progressively supporting the use of bio-ethanol as an additive. In addition, it majorly helps in reducing the pollution levels. Products such as yeast extracts are gaining more prominence as a key ingredient for flavoring food products like savory snack and soups.
Improved production of animal feed enriched with mineral coupled with rising demand for functional bakery products are some of the factors driving the growth. Increasing competion for basic raw material is the key barrier for the industry growth. Yeast market is expected to have huge opportunity from replacing molasses with filtered dates which extracts for yeast production. Also, augmenting concerns over the synthetic flavor enhancer will boost the market.
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Key players operating in the global yeast market are Altech Inc. (US), Associated British Foods Plc. (U.K), Lesaffre (France), Leiber GmbH (Germany) and Angel Yeast Co. Ltd (China). These players are implementing several strategies to develop and expand the market growth. Acquisitions, agreements and new product launches are the key strategies being adopted by the market participants.
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