The global yeast market size, estimated to be valued at USD 5.5 billion in 2024, showcases a remarkable growth projection, anticipated to escalate to USD 8.5 billion by 2029, indicating a robust CAGR of 8.9% during the forecast period. The yeast market is a diverse and dynamic sector with applications spanning various industries, including food and beverage, pharmaceuticals, and agriculture.
Factors Driving the Yeast
Market Growth
The bakery industry has seen significant growth globally,
particularly in emerging economies, driven by urbanization and evolving
consumer preferences. This expansion has resulted in a notable increase in
yeast demand, a vital component in bread-making. Yeast acts as the leavening
agent that facilitates fermentation, giving bread its desired texture. In
emerging markets, the growing preference for convenient and affordable food
options, including packaged bread and pastries, has further boosted yeast demand.
Data from Agriculture Canada highlights this trend, showing
that bread sales in the US rose from USD 23,541 million in 2018 to USD 30,018
million in 2022. This increase reflects shifting consumer habits and growing
bread consumption, particularly in the US. As bread remains a staple food for
many, the demand for yeast, essential for fermentation and the development of
bread’s texture and flavor, has surged accordingly.
As a result, yeast producers are expanding their production
capacities to meet the growing needs of bakeries adapting to consumer
preferences. With bread sales continuing to rise, the yeast market is expected
to benefit further from the bakery industry’s expansion, both in the US and
worldwide, as consumers increasingly turn to baked goods for convenience and
satisfaction.
The Feed Sector’s Expanding Yest
Market Share: A Focus on Enhanced Nutrition
The increasing demand for yeast-based feed solutions
reflects a broader shift towards sustainable and efficient agricultural
practices. With companies such as Phileo by Lesaffre (France) introducing
innovative products like the Actisaf Sc 47 HR+ probiotic for the poultry
sector, there’s a clear emphasis on meeting this demand through research-driven
solutions. These yeast-based additives offer a range of benefits, including
improved feed efficiency, enhanced gut health, and better nutrient
digestibility, leading to improved animal performance and welfare. As such,
investments in launching new yeast-based feed products not only cater to
current market demands but also drive forward the industry’s commitment to
innovation and sustainability.
- Health
and Wellness: Increasing consumer awareness about health benefits
associated with yeast, such as probiotics in nutritional yeast, is driving
market growth.
- Rising
Demand for Processed Foods: The growth in the processed food
sector is fueling the demand for baker’s yeast and other yeast products.
- Craft
Brewing Boom: The rise of craft breweries has increased the
demand for specialty and high-quality yeast strains.
- Sustainable
Solutions: Yeast is gaining attention as a sustainable
alternative in various applications, including biofuels and biodegradable
products.
In North America, the US dominates the yeast market due
to rising trade opportunities.
The rise in trade opportunities has positioned the United
States as a dominant force in the yeast
industry within North America. With a notable export volume of USD 147
million in 2022, the United States emerged as the sixth-largest exporter of
Yeast globally, showcasing its significant presence in the international
market. Notably, the main destinations for US Yeast exports include Canada,
Mexico, and Japan, indicating a diverse reach across different regions.
Moreover, the fastest-growing export markets for US Yeast, such as Canada,
Italy, and Japan, highlight the country’s ability to capitalize on expanding trade
avenues. Additionally, while the United States imports substantial amounts of
Yeast, totaling USD 439 million in 2022, its status as the largest importer
globally provides leverage in negotiating favorable trade terms and
strengthening its position as a dominant player in the North American yeast
market. This robust trade activity underscores the United States’ growing
influence and competitiveness in the global Yeast trade landscape, particularly
within the US region.
- ADM
(US)
- Associated
British Foods plc (UK)
- Alltech
(US)
- AngelYeast
Co., Ltd (China)
- Lallemand
Inc. (Canada)
- ICC
(Brazil)
- Leiber
(Germany)
- Lesaffre
(France)
- Nisshin
Seifun Group Inc (Japan)
- Pacific
Fermentation Ind. Ltd. (Canada)
- Pak
Holding (Turkiye)
- Biorigin
(Brazil)
- Kemin
Industries, Inc (US)
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