Overview and Scope
Specialty yeast refers to the yeast that is created by breaking down the proteins found in fresh yeast that is used in a variety of foods and items. These are extracted from naturally occurring proteins, amino acids, carbohydrates, vitamins, and minerals.
Sizing and Forecast
The specialty yeast market size has grown strongly in recent years. It will grow from $2.7 billion in 2023 to $2.9 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to growth in food and beverage industry, expansion of bioethanol production, animal nutrition industry growth, demand for gluten-free products, globalization of food supply chains.
The specialty yeast market size is expected to see strong growth in the next few years. It will grow to $3.85 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to plant-based protein trends, focus on sustainable practices, emergence of alternative proteins, expansion of craft brewing, prebiotics and digestive health, health-conscious consumer base. Major trends in the forecast period include clean label and natural ingredients, advancements in yeast biotechnology, customized yeast solutions for food industry, research on yeast-based nutraceuticals, technological advancements.
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Segmentation & Regional Insights
The specialty yeast market covered in this report is segmented –
1) By Type: Yeast Extract, Yeast Autolysate, Yeast Beta-Glucan, Other Type
2) By Species: Saccharomyces Cerevisiae, Pichia Pastoris, Kluyveromyces, Other Species
3) By Application: Food, Beverages, Feed, Other Application
Asia-Pacific was the largest region in the specialty yeast market in 2023. The regions covered in the specialty yeast market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increasing consumption of alcoholic beverages is expected to contribute to the growth of the specialty yeast market going forward. Alcoholic beverages are used to maintain optimum temperature, viscosity, and pressure during the production of alcoholic beverages. Specialty yeast is frequently employed in food and beverage such as alcoholic beverages to improve flavor, and fermentation which raises consumer demand for food items and expands the number of food and beverage production facilities, as a result, increasing consumption of alcoholic beverages increases the demand for specialty yeast market. For instance, in December 2021, according to IWSR Drinks Market Analysis Limited, a UK-based media company, the online sales of alcoholic beverages from grocery stores are expected to reach $ 42 billion by 2025. Therefore, the rise in the consumption of alcoholic beverages drives the specialty yeast market.
Key Industry Players
Major companies operating in the specialty yeast market are increasing their focus on introducing plant-based yeast extracts to gain a competitive edge in the market. Plant-based yeast extracts are natural flavor enhancers derived from yeast cells in plants, offering a savory, umami-rich profile often used in vegetarian and vegan culinary applications. For instance, in December 2021, Lallemand Inc., a Canada-based animal nutrition company, launched a new line of plant-based formulations of yeast extracts, called Avor-Lyfe PH 04, Savor-Lyfe PS 05, and Savor-Lyfe PR 06. These yeast extracts are designed to enhance the flavors and cooked notes of various types of savory foods. The Savor-Lyfe product range, which includes these formulations, is suitable for plant-based foods as well as snacks, soups, and meal centers. Yeast extracts, yeast autolysates, and other yeast derivatives are commonly used in food and beverage products for their flavor-enhancing properties. The Savor-Lyfe yeast extracts are specifically mentioned as contributing to the meaty profile of plant-based foods, providing a clean label for various food and beverage products, and meeting the growing demand for an authentic meat experience while offering a sustainable meal option.
The specialty yeast market report table of contents includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
………..
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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