Market Trends of Yeast and Yeast Extract Industry
Increasing Demand for Bakery Products
Currently, bread is a food staple in many cultures across the globe, which is majorly driving the demand for baker's yeast, as bread is typically made from wheat flour dough and baker's yeast. Moreover, packed baked goods, such as cakes, are expected to witness significant demand in the upcoming years, owing to the rising preference for eating packed cakes as snacks, mainly among children across the globe. Rising consumption of bread as it is a cost-effective and easily available staple food, along with an increasing number of nuclear families, mainly in the European region, has led to a boost in demand for bakery products which in turn increases the utilization of baker's yeast. For instance, Germany witnessed exponential growth in the demand for bread, pastries, and other baked goods. According to the UN Comtrade data, in the year 2021, Germany imported bread worth USD 3.06 billion which was higher than the imports of the prior year, i.e. USD 2.71 billion. The growth of yeast and yeast extracts has grown proportionally with the bakery industry across the globe.
Furthermore, bread and bakery product sales have been driven by the ongoing surge in demand for free-from ranges and specialty bread and the impact of inflation on retail prices, which is further driving the demand for baker's yeast in bread and bakery product application. However, with the rising demand for Italian cuisine all over the world various manufacturers bringing forward the latest product innovations with the utilization of baker's yeast while manufacturing vegan cheese, such factors are expected to lead to the market's expansion in the near future.
Asia-Pacific Holds the Major Market Share
Asia-Pacific is one of the leading regions in the global yeast and yeast extracts market, driven by robust demands for clean-label ingredients and additives - flavors and flavor enhancers exhibiting clean taste and aroma are escalating the market growth of yeast and yeast extracts. In Asia, increasing demand for processed foods, coupled with increasing awareness about health-conscious products, is significantly propelling the growth of the bakers' yeast market in the region, which is, in turn, driving the growth of the market studied. The Asia-Pacific market for yeast and yeast extracts is driven by the growing consumption of baked goods and confectionery products.
The potential for bio-ethanol yeast in this region is also promising, given the evolving energy mix of different economies. Moreover, China dominates the market in the yeast and yeast extract market as the huge volume of yeast is being manufactured and supplied by several leading players like AB Mauri, Lesaffre, Angel yeast, and Biosukeen, among others. This is due to the huge demand for yeast and yeast extracts across various industries within the nation as well as in other regions. For instance, according to the UN Comtrade data, in the year 2021, the export value of beer from China was USD 278.97 million. The growth of various industries that use yeast and yeast extracts has been propelling the market studied across the region.
