The global specialty yeast market size is expected to showcase substantial growth backed by the increasing demand for snacking and the rising wine industry worldwide. This information is published by Fortune Business Insights in its upcoming report, titled, “Specialty Yeast Market, 2021-2028.”
The novel coronavirus has negatively impacted several economies across the globe. To curb the pandemic spread, the governments of several countries have ordered complete lockdown of industrial and human activities. This has led to the postponement of several industrial projects owing to reduced workforce and limited availability of resources. This is expected to hamper the market growth.
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Based on type, the market is divided into yeast extracts, autolytic yeast, and others. On the basis of application, the market is segregated into bakery, alcoholic beverages, cheese, savories and snacks, and others. Lastly, on the basis of region, the market is segregated into Europe, North America, the Middle East and Africa, Asia-Pacific, and South America.
What does the Report Include?
The global market for specialty yeast report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate that will further contribute to the growth of the market between 2021 and 2028. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
Increasing Consumption of Ready-to-Drinks to Promote Growth
Yeast is one of the major ingredients in brewing of wines. The growing demand for innovative ready-to-drink (RTD) products is expected to bode well for the product’s demand worldwide. According to the U.S. Wine Market: 2020 Edition, the consumption of wine rose by over 32.5% in 2019. The increasing consumption by gen X is projected to drive the demand. Moreover, the high consumption of yeast-based ready-to-eat products due to hectic lifestyle and convenience is expected to contribute to the global specialty yeast market in the forthcoming years.
Asia-Pacific – The region is expected to hold the largest global specialty yeast market share in the forthcoming years. This is ascribable to factors such as the increasing demand for ready-to-eat food products and the high disposable income of the working population in the region.
North America – The market in the region is expected to experience substantial growth backed by the presence of established players such as Lallemand, Koninklijke DSM N.V., and others that are focusing on introducing innovative specialty yeast products between 2021 and 2028.
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Market Players Focus on Partnerships to Brighten Their Growth Prospects
The global market for specialty yeast is experiencing healthy competition among key players that are focusing on partnering with other companies to expand their product portfolio and further boost sales revenues. Additionally, the other major companies are striving to maintain their presence by adopting strategies such as merger and acquisition, facility expansion, and collaboration that will bode well for the growth of the market in the forthcoming years.
- January 2019 – Lallemand announced its strategic partnership with Ohly that involves long-term supply of yeast-based ingredients. According to the sources, OHLY will divest its Hutchinson Torula yeast facility to Lallemand, a leading producer of yeast.
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