Key Highlights
- Asia-Pacific Yeast and Yeast Extract market is projected to grow at a CAGR of 11.51% during the forecast period.
- The shift of the global food processing industry toward the replacement of synthetic food additives with that of clean-labelled ones and the popularity of sodium reduction concept have been the major factors driving the market studied by boosting its value sales.
- By geography, China led the market revenue owing to production consolidation practiced by the domestic players and high dependency of neighboring countries to meet demand through imports. As a result, global players and their subsidiaries like AB Mauri, BioSpringer, Angel Yeast Co, etc. have dedicated their operations in China to expand their market share at global level.
Key Market Trends
Food and Beverage Industry Emerged as the Most Promising Application
Food and beverage industry in the region was witnessed as the most promising sector in the consumption of yeast, owing to high consumption of beer and other alcoholic beverages in the countries like China, Japan, and India. On the other hand, growing consumption of bread and baked goods as a result of increased demand of convenience foods, has further boosted the ingredients sales. In fact, according to ITC Trade Map, one of the leading bakery consumer of the region- China has been increasing bakery imports over the years portraying increased demand for baked goods and potential for domestic manufacturers to cater the demand. Consumers are constantly demanding for free-from and specialty bread impacting the inflation on retail prices. This is driving the demand for baker’s yeast in bread and bakery product application.
India to Foster the Market Growth
India - backed by its emerging economy and growing consumer market of food and beverage products, portrays a much promising space for yeast ingredients during the forecast period. However, stringent government regulation and restricted yeast incorporation in food products are few factors considered to be pulling down the sales of yeast as expected. The country’s food regulation organization that is FSSAI in 2019 introduced the provision restricting the yeast count in beer. The authority stated that regular beer must be entirely free of yeast while draught beer to be permitted a ceiling of 40 colony-forming units (CFU), in order to maintain health and safety standards during the brewing and stocking processes, across the microbreweries in the country.
Competitive Landscape
The market is highly competitive with the presence of global and regional level players operating in the market, which include ABFI Group, Koninklijke DSM NV, BioSpringer, Angel Yeast Co. High industrial profitability has led manufactures to develop powerful competitive strategies, which is intensifying the competition among the existing market players. Major players are intensely embarking on partnerships and acquisitions as their prime strategy, to consolidate the market studied.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
Methodology
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