Yeast and Yeast Extract Market-Overview
Yeast and yeast extract is commonly found in nutritional supplements, baked goods, and probiotics. Baker’s yeast is utilized for various medical applications, comprising ethanol manufacturing, baked goods, and antibiotics. As per MRFR, the market is estimated to utilize a CAGR of 7.5% during the forecast period ending in 2024.
Adoption of yeast and yeast extract is growing exponentially due to amplified demand for feed, medicinal, and pet food products. Due to the escalating need for packaged cakes among end users, the market is anticipated to generate substantial demand in the coming years for the yeast and yeast extract market in the forecast period.
Segmental Analysis
By applications, the yeast and yeast extract market has been segmented into food & beverages and animal feed. Based on region, the yeast and yeast extract market has been categorized into four important regions: Asia-Pacific, North America, Europe, and other regions. Based on the type segment, the yeast and yeast extract market has been segregated into baker’s yeast, feed yeast, wine yeast, and brewer’s yeast.
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Detailed Regional Analysis
The North American yeast and yeast extract market will lead the worldwide market during the evaluation period. Due to the region’s increasing demand for natural components and additives, this region motivates market expansion. Furthermore, this region is stimulated during the analysis period due to an upsurge in demand for alcoholic beverages and bread products among the region’s customers. In addition, the Asia-Pacific regional market generates the greatest CAGR by gaining a greater market share over the forecast period. This region is mounting due to population growth, intensifying consumer disposable income, improved consumption of food & beverages, and improved development in the region. France, Italy, Spain, Germany, and the United Kingdom (U.K.) generate the most market income in Europe, followed by the rest of Europe.
Competitive Analysis
The essential policies being developed by government bodies worldwide are thought to have a powerful role in the global advancement of the market. The COVID-19 pandemic’s drastic changes in the global financial intermediation structure are believed to influence how firms acquire finance in the comparable period. The restructuring of the market’s fundamental operations is expected to impact the market shortly. The upsurge in innovative technologies in the global supply chain is estimated to generate opportunities during the forecast period. The market is projected to witness an improvement in growth cues in the near future. The reclaimed market potential is projected to augment the worldwide market’s progress. The mindset of hypervigilance in the aftermath of the pandemic is intended to guide market decisions throughout the projected period. The market’s production stability is predicted to be variable. Each manufacturer is expected to make microeconomic decisions to ensure long-term business growth and continuity during the forecast timeframe.
The major players in the yeast & yeast extract market are British Foods PLC (U.K.), Chr. Hansen (Denmark), Leiber Gmbh (Germany), DSM N.V (Netherlands), Kerry Group (Republic of Ireland), Angel Yeast Co., Ltd (China), Lesaffre Group (France), Lallemand Inc (Canada), and Synergy Flavors (Ireland).
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Industry Updates:
Nov 2021 Angel Yeast Co., Ltd, a Chinese listed high-tech yeast firm, has declared the formation of a novel joint venture focused on holistic health, Hubei Magic Health Technology Co., Ltd, with two well-known biomedical companies. Zhejiang Huida Biotech Co., Ltd. and Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd., a subsidiary of Huadong Medicine Co., Ltd., inked the joint venture arrangement. Magic Health will boost the development, production, and sales of important health goods based on microbial technologies in the future, spanning from nutritious and healthy food raw materials to personal care ingredients.
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