Analysis of Potential Impact of COVID-19 on Yeast Market
The humankind has known hundreds of yeast varieties, but none is perhaps as popular in industry circles as that used in production of leavened baked products. Saccharomyces cerevisiae has gained immense popularity in the production of wide variety of baked products such as breads, rolls, pastries, and doughnuts. Yeast is also extensively used in winemaking and distilling, driving the sales in the yeast market. Advances in breadmaking technology has offered a robust impetus to the expansion of the yeast market. Yeast has gained intense commercial steam in stay-at-home commodity.
Over the years, the yeast market has benefitted from efforts to characterize these species. This has spurred the use of commercial sour-dough starters. Some of the major varieties in the yeast market are wine yeast, probiotic yeast, and brewer’s yeast.
The study offers industry-validated data on the growth prospects and revenue estimations of various segments in the yeast market. It also offers historical figures and lays down framework for analyzing strategic landscape.
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Yeast Market: Key Trends
The commercialization of yeast has gathered force on the back of the rising industrial use in food and feed production, where the various varieties of it are used as additive. Widespread demand for bakery products in various parts of the world has offered a robust fillip to the utilization of yeasts. The growth opportunities in the yeast market has also been fueled by the growing potential of yeast in making of bioethanols. Rising popularity of yeast-based feed products is boosting the yeast market.
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Yeast Market: Competitive Analysis and Key Developments
Beer connoisseurs are unlocking new flavors in beer by foraging and home brewing with yeast. In recent months of COVID-19 lockdown, interest in cultivating wild yeast has reinvigorated interest in yeast market. A small number of people in developed nations have taken to wild yeast starters in homebrewing. Such initiatives are no doubt stirring interest in the potential of the yeast market. An interesting trend here is the use of cell phone apps in identifying the required species of yeast used in homebrewing. Brewing companies in the U.S. have seen such trends gaining some attention among beer lovers.
Innovations in the food and feed additive industry have been intensifying competition in the yeast market with aspiring players jostling for getting a stronghold therein in near future. Some of the promising players in the yeast market are Chr. Hansen Holdings A/S, Alltech, Associated British Foods PLC, Lallemand Inc., Lesaffre Group, and AngelYeast Co., Ltd.
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Yeast Market: Regional Assessment
Some of the key regional markets comprise North America, Europe, the Middle East and Africa, Latin America, and Asia Pacific. Several developed and developing countries in these regions have been hotspot of opportunities for players in the global yeast market. Growing initiatives on trying new recipes of yeast in homebrewing and wine making in developed countries, such as in North America, has reinforced the growth potential in the yeast market. Further, Asia Pacific has seen rapidly rising utilization of yeast in meeting the needs of wide variety of bakery products.
Europe has also seen substantial uptake of yeast-based feed products in the swine industry. Rise in feed production in European nations has helped ramped up lucrative opportunities for yeast producers. The regional market is expected to rise at promising potential during the next few years.
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