The Global Yeast Market by Types, Applications, & Geography - Trends & Forecasts report, focussing on data from 2011 to 2016, looked at the global yeast market by type, application, geography and competitiveness.
Bakery products, beer, wine, and bio-ethanol dominate the market with yeast experiencing robust and continuous annual growth in the past few decades, said the study.
Products with high nutritional value and health benefits are seen to have expansion potential for yeast suppliers as the micro-organism is rich in protein and can act as a probiotic.
Globally, the yeast market was estimated to be worth $2.9bn (€2.2bn) in 2010 and is expected to reach $5.1bn (€3.9bn) by 2016, growing at an compounded annual growth rate (CAGR) of 8.6% from 2011 to 2016.
According to the report, the market is dominated by baker’s yeast which accounted for more than 31% in 2010, as baker’s and brewer’s yeast captured over 45% of the global micro irrigation system market.
The analysts predicted continued growth in developed and developing regions due to demand in the food and beverage industry and the implementation of new food safety regulations.
They said that, Europe and Asia-Pacific were the leading yeast sectors, accounting for around 60% of the market in 2010. Asia-Pacific is the fastest growing geography with a CAGR of 8.8% from 2011 to 2016.
North America is the fastest growing yeast market and estimated to reach $1.3bn (€1bn) by 2016, growing at a CAGR of 9.7% annually until 2016.
Competition for basic raw material, such as molasses to make yeast, is the major restraint in Europe and North America with increased competition from Chinese players in the growing Asia-Pacific market.
The global market of yeast is dominated by companies including Lesaffre Group (France), AB Vista (UK), AB Mauri (UK), and Lallemand (Canada) but regional markets players such as Angel Yeast Co. (China) are also significant.
The report said yeast extracts could help food producers to reduce sodium and aid the repairing process and taste of a product.