Specialty Yeast Market by Type (Yeast Extracts, Yeast Autolysate, Yeast Beta-glucan, and Others), Application (Food and Beverages, Animal Feed, Pharmaceuticals and Nutraceuticals, and Others): Global Market Size Estimates and Forecast (2022–2030)
The market crossed US$ 3.20 billion mark in 2022 and is expected to hit US$ 5.55 billion by 2030, recording a CAGR of 7.1% during the forecast period.
Specialty yeast has been significantly growing with the high adoption in food and beverages segment.
Rising demand for functional foods and increasing application in bakery industry are some of the major factors driving the growth of the market. Increasing consumer preference for clean label products in developed countries and ongoing developments in new variants of yeast ingredients with improved functionality, is further expected to surge the demand for market during the forecast period. The yeast autolysate segment is expected to pace up with increasing demand for bio-ethanol as a fuel. Further, other segment such as yeast extracts, yeast beta-glucan is also expected to gain traction during the forecasted year.
Within the report, the market is segmented into type, application, and geography. By type, the market is further segmented into yeast extracts, yeast autolysate, yeast beta-glucan, and others. Based on application, the market is divided into food and beverages, animal feed, pharmaceuticals and nutraceuticals, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Growing awareness about the nutritional benefits of specialty yeast has empowered the growth.
Specialty yeast are natural ingredients used in various applications such as food & beverages, animal feed, pharmaceutical, and amongst others to enhance their nutritional properties and provide strong taste and flavor profile to the products. Increasing research and development activities are driving the demand for innovative products, thereby significantly contributing to the specialty yeast market growth. Further, the favorable rules and regulation imposed by food regulating organization for use of yeast in microbrewery has surged the market demand in foods and beverages industry.
Rising adoption in various industries is one of the major factors accelerating the market growth.
The industries for specialty yeast are food and beverages, animal feed, pharmaceuticals and nutraceuticals, and others. Amongst these industries, the use of specialty yeast in food and beverages industry owing to its extensive use in alcoholic and non-alcoholic beverages for fermentation process. The pharmaceutical and nutraceutical industry is also encouraging the use of specialty yeast in production on biopharmaceuticals such as insulin, human serum albumin, insulin analogs, and others. other industries such as animal feed, personal care, cosmetics, and biotechnology are also encouraging the use of specialty yeast.
Recent strategic developments in specialty yeast market
The specialty yeast market has undergone several significant developments, and a few of these have been mentioned below:
- In December 2021, Lallemand Inc. launched three new yeast extracts for plant-based formulation.
- In December 2019, Biospringer North America Corporation announced the USD 29 million expansion of its yeast extract site in Cedar Rapids, Iowa.
The specialty yeast market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Chr. Hansen Holding A/S, Lesaffre, Lallemand Inc., Associated British Foods plc, and ADM are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Importers and exporters of specialty yeast
- Specialty yeast related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Semiconductor component suppliers
- Specialty yeasts distributors and sales firms
- End users of specialty yeast
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Type:
- Yeast Extracts
- Yeast Autolysate
- Yeast Beta-glucan
- Others
- Application
- Food and Beverages
- Animal Feed
- Pharmaceuticals and Nutraceuticals
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Chr. Hansen Holding A/S
- Lesaffre
- Lallemand Inc.
- Associated British Foods plc
- ADM
- Chr. Hansen Holding A/S
- Lesaffre
- Lallemand Inc.
- Associated British Foods plc
- ADM