Global Yeast Market Size By Type (Yeast Extract, Autolysate), By Application (Meat, Seafood Products), By Region, And Segment Forecasts, 2023 to 2032

The Global Yeast Market was valued at USD 10.2 billion in 2023 and is projected to reach USD 18.4 billion by 2031, registering a CAGR of 7.4% during the forecast period from 2023 to 2031. The market's expansion is driven by the rising demand for functional foods, the increasing popularity of fermented beverages, and the growing trend of clean-label and plant-based products. Yeast is widely used in various industries, including food and beverage, animal feed, and pharmaceuticals, owing to its versatile functionalities such as fermentation, flavor enhancement, and nutritional enrichment.

Drivers

Increasing Consumption of Bakery Products

The growing demand for fresh and packaged bakery products globally is a primary driver for the yeast market. Yeast plays a vital role in fermentation and texture improvement, making it indispensable in the bakery industry.

Rising Popularity of Functional Foods

The increasing consumer preference for foods that offer health benefits is boosting the demand for nutritional yeast, which is rich in vitamins, minerals, and proteins.

Expanding Beverage Industry

The growth of the alcoholic and non-alcoholic beverage sectors, particularly in developing regions, is creating significant demand for yeast used in fermentation processes.

Restraints

High Cost of Production

The cost of yeast production, especially specialty yeast varieties, can be high, creating challenges for manufacturers in price-sensitive markets.

Stringent Regulations

Regulatory requirements related to food safety and fermentation processes can pose challenges to market expansion, especially for new entrants.

Opportunity

Innovation in Yeast Products

The development of novel yeast strains with improved fermentation properties and enhanced nutritional profiles offers growth opportunities for market players.

Expansion in Emerging Economies

Growing urbanization and changing dietary patterns in emerging markets like India and China present lucrative opportunities for yeast manufacturers.

Market by Type Insights

The Baker’s Yeast segment dominated the market in 2023, accounting for the largest revenue share. The segment's growth is fueled by the increasing demand for bread and bakery products globally. Meanwhile, the Nutritional Yeast segment is expected to witness significant growth due to its rising adoption in plant-based and clean-label foods.

Market by Application Insights

The Food & Beverage segment held the largest share in 2023, driven by the high demand for yeast in bakery, brewing, and wine-making industries. The Animal Feed segment is also witnessing robust growth due to the rising focus on improving animal nutrition and health.

Market by Regional Insights

North America held the largest market share in 2023, driven by high consumption of bakery products and the increasing demand for clean-label ingredients.

Asia-Pacific is projected to register the highest growth rate during the forecast period, supported by the rapid expansion of the food and beverage industry in countries like China, India, and Japan.

Competitive Scenario

Key players in the Global Yeast Market include Lesaffre, Angel Yeast Co., Ltd., Chr. Hansen Holding A/S, AB Mauri, Lallemand Inc., and Kerry Group Plc. These companies focus on product innovation, strategic partnerships, and geographical expansion to strengthen their market presence.

Scope of Work – Global Yeast Market

Key Market Developments

2023: Lesaffre introduced a new line of organic baker’s yeast to cater to the growing demand for clean-label ingredients.

2024: Angel Yeast announced the expansion of its production facilities in Asia-Pacific to meet the rising demand for nutritional yeast.

2025: Chr. Hansen Holding A/S partnered with a leading brewing company to develop innovative yeast solutions for the craft beer market.

FAQs

What is the current market size of the Global Yeast Market?

The market was valued at USD 10.2 billion in 2023.

What is the major growth driver of the Global Yeast Market?

The increasing consumption of bakery products and the rise in functional food demand are key drivers.

Which is the largest region during the forecast period in the Global Yeast Market?

North America dominated the market in 2023, but Asia-Pacific is expected to witness the highest growth.

Which segment accounted for the largest market share in the Global Yeast Market?

The Baker’s Yeast segment held the largest share in 2023.

Who are the key market players in the Global Yeast Market?

Key players include Lesaffre, Angel Yeast Co., Ltd., Chr. Hansen Holding A/S, AB Mauri, Lallemand Inc., and Kerry Group Plc.

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