The global specialty yeast market size is expected to reach US$ 3,656.3 Mn by the end of 2029. According to a study by Future Market Insights (FMI), the market will show a steady rise at 6% CAGR between 2019 and 2029. According to the report, the usage of specialty yeast is increasing, owing to the growing awareness about its nutritional benefits. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market. The emergence of COVID-19 has brought with it travel bans and quarantines; massive slowing of the supply chain; uncertainty in the stock market; falling business confidence, and growing panic among the population.
It includes in-depth insights into the specialty yeast market. Some of these are:
- The estimated value of the market was at US$ 2,039.8 Mn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- Europe is projected to dominate the specialty yeast industry growth over the assessment timeline.
- The regional growth can be credited to the rise in the intake of alcoholic beverages along with the increase in customer knowledge about the health advantages derived due to the product consumption.
- The specialty yeast market in North America is expanding alongside advancements in the food processing sector of the US.
- Investment in the global specialty yeast market is a nascent trend that has disrupted the growth dynamics of the market.
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“Factors such as growing urbanization & customization, dynamic lifestyle changes, rising number of nuclear families, growing number of women in the workforce, and availability of less time for food preparation is driving the demand for processed food products,” said a lead analyst at FMI.
Coronavirus might Slow Down the Growth of Specialty Yeast Market
The soaring degree of coronavirus spread has made consumers wary about their spending habits. As globally governments have enforced directives to curb the spread, recommendations for reduced travel, “social distancing” and other safety habits will compel consumers to make tough choices about eating away from home, placing order online or even home cooked meals. This will in turn have a considerable impact on the market and sales in the market. Declining spending power across the globe owing to the evolving recession and short-time appreciation of dollars led to significant decline in exports and imports.
Who is Winning?
Some of the major players of the global specialty yeast market are Chr. Hansen Holding A/S, Archer Daniels Midland, Lallemand, Kerry Group, Lesaffre, Synergy Flavors, Angel Yeast, AB Mauri, Koninklijke DSM N.V., Levex and others. Specialty yeast widely used in various food applications will increase due to its unique taste, natural flavoring and other functional properties and demand for specialty yeast products, providing manufacturers with a greater opportunity to gain future growth in the market for specialty yeast.
Get Valuable Insights into Specialty Yeast Market
Future Market Insights, in its new report, presents an unbiased analysis of the global specialty yeast market, covering historical demand data and forecast figures for the period between 2020 and 2030. The study divulges compelling insights into growth witnessed in the market. The specialty yeast market can be sectored into type, application, and species. Based on the type, the industry can be segregated into yeast extracts, yeast derivatives, yeast autolysates, and yeast beta-glucan. Application wise, the industry can be classified into biotechnology, food, beverages, healthcare, bioethanol, feed, personal care & cosmetics. On the basis of species, the specialty yeast industry is segmented into Kluyveromyces, Saccharomyces Cerevisiae, and Pichia Pastoris. Based on regions, the market is classified into North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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