The Specialty Yeast Market is estimated to be valued at USD 3.2 billion in 2022. It is projected to reach USD 4.6 billion by 2027, with a CAGR of 7.0%, in terms of value between 2022 and 2027, according to a new report by MarketsandMarkets.
The reasons that are driving the growth of the specialty yeast market are increasing demand for specialty yeast products across various food, beverage, feed and other industries such as healthcare, biotechnology, cosmetics among others that are contributing significantly to their growth. Specialty yeast products enhance the nutritional profile of the various food and feed products and provide a strong taste and flavour offering due to which they are in significant demand from the food industries.
Based on type, yeast extracts account for the dominant share in the specialty yeast market. Due to the recent global rise in awareness regarding natural ingredients and products, yeast extracts have been able to gain significant traction in the industry as a natural ingredient. It also offers various desirable characteristics such as amino acids, carbohydrates, minerals and vitamins and finds a range of applications across a large number of food products such as soups, sauces, meat preparations and savoury mixes.
Based on species, the saccharomyces cerevisiae segment is projected to account for the largest market share in the specialty yeast market. Some of the reasons boosting the growth of this category are the increased robustness and the ability of the species to withstand stressful conditions. They find a large number of applications for yeast extracts that are used in production of bread, beer, wine, and soy sauce as it offers desirable characteristics such as high fermentation efficiency, rapid growth rate and has a good ability to produce ethanol with an effective usage of sugar.
Based on application, the food segment is expected to retain its position as the dominant and the fastest-growing segment during the forecast period. The specialty yeasts witness growing demand from the food industry as they cater to a large number of food products such as bakery products, functional foods, savory products and other food applications such as food flavourings, soups, snacks, sauces and seasonings.
Based on region, Europe is projected to be the largest market for specialty yeast industry during the forecast period. The growth of the specialty yeast in the region is supported by the well-established food & beverage industries and the increased demand for natural ingredients, which have led to the widespread acceptance of yeast extracts in the region. The recent growth of the bioethanol industry in the European market has also significantly contributed to the growth of the specialty yeast market in Europe.
Read more latest industry news and developments in our free to download magazine.