Yeast Market worth $8.5 billion by 2029 - Exclusive Report by MarketsandMarkets™

CHICAGO, March 26, 2024 /PRNewswire/ -- The global yeast market, estimated to be valued at USD 5.5 billion in 2024, showcases a remarkable growth projection, anticipated to escalate to USD 8.5 billion by 2029, indicating a robust CAGR of 8.9% from 2024 to 2029 according to a report published by MarketsandMarkets™. The yeast market has experienced significant growth in recent years, driven by the expanding demand for bakery products, alcoholic beverages, and animal feed. With yeast being a crucial ingredient in these sectors, advancements in biotechnology and fermentation processes have enabled manufacturers to produce high-quality yeast strains efficiently.

Moreover, the rising preference for natural and clean-label ingredients in food and beverage products has further propelled the yeast market forward. As consumer preferences continue to evolve towards healthier and sustainable options, the yeast market is expected to witness sustained growth, with innovations likely to drive further diversification in applications and product offerings.

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The feed sector commands a significant share of the market, driven by growing demand for feed products with enhanced nutritional benefits.

The increasing demand for yeast-based feed solutions reflects a broader shift towards sustainable and efficient agricultural practices. With companies such as Phileo by Lesaffre (France) introducing innovative products like the Actisaf Sc 47 HR+ probiotic for the poultry sector, there's a clear emphasis on meeting this demand through research-driven solutions. These yeast-based additives offer a range of benefits, including improved feed efficiency, enhanced gut health, and better nutrient digestibility, leading to improved animal performance and welfare. As such, investments in launching new yeast-based feed products not only cater to current market demands but also drive forward the industry's commitment to innovation and sustainability.

By type, the baker's yeast segment is projected to account for the largest share in the yeast market. 

During the forecast period, the baker's segment is expected to lead the market in terms of type, primarily due to the cost-effectiveness and extensive applications of baker's yeast across various industries, including food and feed. The expansion of the baker's yeast market correlates directly with the growing consumption of bakery products, especially bread, particularly in developed regions.

Notably, the All India Bread Manufacturer's Association (AIBMA) reports that India's per capita consumption of bread is estimated to be around 1.5 kg to 1.75 kg. This surge in bakery product consumption, particularly bread, is a significant driver behind the anticipated growth of the baker's yeast segment in the market throughout the forecast period. Additionally, advancements in baking technology and the increasing popularity of artisanal bread are expected to further fuel the demand for baker's yeast in the global market.

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In North America, the US dominates the yeast market due to rising trade opportunities.

The rise in trade opportunities has positioned the United States as a dominant force in the Yeast market within North America. With a notable export volume of USD 147 million in 2022, the United States emerged as the sixth-largest exporter of Yeast globally, showcasing its significant presence in the international market. Notably, the main destinations for US Yeast exports include Canada, Mexico, and Japan, indicating a diverse reach across different regions. Moreover, the fastest-growing export markets for US Yeast, such as Canada, Italy, and Japan, highlight the country's ability to capitalize on expanding trade avenues. Additionally, while the United States imports substantial amounts of Yeast, totaling USD 439 million in 2022, its status as the largest importer globally provides leverage in negotiating favorable trade terms and strengthening its position as a dominant player in the North American yeast market. This robust trade activity underscores the United States' growing influence and competitiveness in the global Yeast trade landscape, particularly within the US region.

The key players in the market are Associated British Foods plc (UK), Alltech (Kentucky), AngelYeast Co., Ltd (China), Lallemand Inc. (Canada), ICC (Brazil), Leiber (Germany).

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Feed Yeast Market by Type (Yeast Derivatives, Probiotic Yeast, Brewer's Yeast, and Specialty Yeast), Livestock (Ruminants, Swine, Poultry, Aquatic Animals, Pets and Equine), Genus , and Region - Global Forecast to 2025

Specialty Yeast Market by Type (Yeast Extracts, Yeast Autolysates, Yeast Beta-glucan, and Other Yeast Derivatives), Species (Saccharomyces Cerevisiae, Pichia Pastoris, Kluyveromyces), Application and Region – Global Forecast to 2027

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