According to MarketsandMarkets, the global yeast market size is estimated to be valued at USD 3.9 billion in 2020 and is projected to reach USD 6.1 billion by 2025, recording a CAGR of 9.6%. The rapid growth in the consumption of packed bakery food products with enhanced flavors is a key factor that is projected to drive the growth of the yeast market.
The market for yeast is projected to witness an upward trend in the near future due to the changing lifestyles of consumers across the globe. The rise in household income, a surge in consumer demand for high food quality and flavored food products, and an increase in awareness pertaining to a healthy diet are the major factors that have encouraged the demand for yeast in the market.
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The demand for yeast remains substantial in developed regions, such as North America and Europe, and is emerging in developing regions, such as Asia Pacific and South America. This consumer trend has led to high growth potential for bakery and brewer’s yeast manufacturers with blends of various flavors.
The Asia Pacific yeast market is projected to witness the fastest growth in the coming years. A large consumer base and an increase in disposable income in India and China are factors that are projected to drive the demand for packed bakery products. In addition, China and Japan are the hubs of yeast and witness a high concentration of leading manufacturers to meet the demand for food products. The rapid urbanization in countries, such as India and China, is a key factor that is projected to drive the growth of the yeast market in Southeast Asia during the forecast period.