Global Yeast Strategic Industry Report 2024: Market to Reach $11.6 Billion by 2030 - Changing Consumer Preferences for Sophisticated Beverages and Surging Popularity of Probiotic Functional Foods - ResearchAndMarkets.com
Global Yeast Market to Reach $11.6 Billion by 2030
The global market for Yeast estimated at US$6.2 Billion in the year 2023, is projected to reach a revised size of US$11.6 Billion by 2030, growing at a CAGR of 8.1% over the analysis period 2023-2030.
In this competitive scenario, the global market share percentages in 2023 and 2020 reflect the dynamics within the yeast market. Despite pandemic challenges, the outlook for the yeast market remains positive, buoyed by major demand growth drivers like bread and other baked products. Emerging markets and new product offerings are expected to fuel growth, with developing countries leading the charge due to their lower per capita consumption, offering substantial market potential.
Baker's Yeast, one of the segments analyzed in the report, is projected to record 9.2% CAGR and reach US$5.1 Billion by the end of the analysis period. Growth in the Brewer's Yeast segment is estimated at 8.2% CAGR for the next 8-year period.
The pandemic had a significant impact on the snack food and bakery market, particularly affecting the demand for yeast due to COVID-19 lockdowns. Home baking surged, driving up the need for yeast, while packaging limitations for dried yeast in the retail segment became apparent. In the US, consumers sought yeast-less baking recipes or rationed yeast amid shortages.
The U.S. Market is Estimated at $1.6 Billion, While China is Forecast to Grow at 10.8% CAGR
Europe remains the largest region for yeast consumption, while Asia is rapidly emerging as a key market, driven by the affordability factor and strong demand for pastries and cakes.
The Yeast market in the U.S. is estimated at US$1.6 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$1.5 Billion by the year 2030 trailing a CAGR of 10.8% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.1% and 8.1% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 6.9% CAGR.
MARKET OVERVIEW
Impact of COVID-19 Pandemic and Looming Global Recession; Living with COVID-19, the New Normal
Stagflation and Risk of Recession: New Challenges Emerge for the Global Market
World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2021, 2022, 2023 and 2024
Pandemic Impact on Snackfood and Bakery Market
Demand for Yeast for Home Baking Rises on Account of COVID-19 Lockdowns
Packaging Limitations for Dried Yeast for the Retail Segment Highlighted by the Pandemic
People in the US Sought Yeast-less Baking Recipes or Rationed Yeast
Competitive Scenario
Yeast - Global Key Competitors Percentage Market Share in 2023 (E)
Yeast Competitor Market Share Scenario Worldwide (in %): 2020E
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
Market Snapshots
Global Market Prospects & Outlook
Impact of Pandemic on Yeast Market
Bread and Other Baked Products: Major Demand Growth Drivers
Emerging Markets and New Products to Drive Growth
Developed Markets Dominate Consumption, While Developing Countries Spearhead Growth
Global Yeast Market - Geographic Regions Ranked by CAGR (Value Sales) for 2023-2030: China, Asia-Pacific, Latin America, Middle East, Africa, Canada, USA, Europe, and Japan
Lower Per Capita Consumption Offers Huge Market Potential in Developing Countries
Europe Remains the Largest Region
Asia: A Fast Emerging Market for Bread, and Yeast
Affordability Factor Spurs Strong Demand for Pastries and Cakes
Yeast: Product Overview
Physico-Chemical Characteristics of Fresh and Dry Yeast (in Terms of Nitrogen Percentage in Dry Matter, Ashes Percentage in Dry Matter, pH (After Rehydration) and Dry Matter Percentage in Yeast
Baker's Yeast - Nutritional Data of Fresh and Dry Baker's Yeast in Terms of Fats, Carbohydrates, Proteins, Minerals (as % in Dry Matter) and Vitamins (mg/100g) and Energy Value (as Kcal per 100g of Dry Matter)
Common Types of Yeast
Forms of Yeast
Yeast Production Process
Overview of Key End-Use Applications
Recent Market Activity
Select Innovations & Advancements
Select Global Brands
MARKET TRENDS & DRIVERS
Yeast Market: Key Market Trends, Long Term Drivers and Deterrents
Popularity of Functional Bakery Products Augurs Well for Baker's Yeast
How Yeast Contributes to Upliftment of Bakery Market?
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