Rising demand for yeast-based products over the last few years has caused steady growth of the market but also poses new challenges requiring manufacturers to catalyse innovation and ramp up production and technology development to meet evolving needs of their customers – a challenge which yeast manufacturer, Angel Yeast, has risen up to meet.
According to Innova Market Insights’ latest report, ‘Trends in Yeast and Yeast Products’ reveals the trends and potential of the yeast market, as well as changes necessary for industry players to stay ahead of the competition.
Angel Yeast has announced its 2023 brand development strategy which is centered around addressing market pain points and delivering innovative solutions through strategic investment and partnerships that enable the company to expand its supply and R&D capabilities. The company has said it aims to bring its yeasts to households worldwide and to the food and beverage industry.
According to the study, the rapid growth of the yeast market is ‘propelled’ by the roles of yeast in food and beverage products as a flavour enhancer and nutritional booster. The use of yeast in new product development has increased across all regions between 2019 and 2022.
Western Europe is at the forefront of utilising traditional yeast in developing new products, while the use of yeast extracts in Asia is higher than the global average. Keeping up with the demand to take advantage of market opportunities is a challenging feat, meaning companies need to improve their yeast production capabilities while establishing agile supply chains.
Fresh bread is now a daily staple of more than a third consumers worldwide, and 63% of people consume biscuits at least once a week. In 2022, bread accounted for 53% of all new baked goods containing yeast, with Western Europe and Latin America seeing the highest volume of newly launched yeast-fermented baked goods on the market.
Aligning its business strategy with the latest industry trends and advancements, the company has said it is poised to embrace challenges and opportunities to sharpen competitive edges and build up long-term success with its new strategy. The company’s investment has surpassed US$485 million, with 18 completed construction projects and 29 underway.
It is also investing in the development of 20 in-house R&D platforms dedicated to yeast resource development, fermentation, nutrition, flavouring and other application technologies; all to improve the pentration rate of its products in downstream markets. The company will also continue collaborating with global universities and research institutions, joining forces with scientists and industry experts.
“Angel’s business success is not only built on its technological expertise, but also its robust ability to capture market trends that enables us to stay in tune with the needs of global customers. We conduct in-depth research to target market demands, which allows us to identify growth opportunities as we seek innovation to drive our business forward,” explained Xiao Minghua, General Manager of Angel Yeast. “With our new strategy, we will continue to expand our global footprint by strengthening cooperation with our partners, leveraging our leadership in yeast manufacturing and global resources to tap into new customer groups.”
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