Specialty yeast market players are investing in R&D of a broader range of end products to sustain growth post the end of COVID-19 pandemic.
DUBAI / ACCESSWIRE / May 25, 2020 / Future Market Insights: Fundamental mobility restrictions imposed by the global coronavirus outbreak are creating a slew of production and logistical challenges facing the specialty yeast market. Specialty yeast manufacturers are witnessing a notable fall in demand due to temporary closure of foodservice businesses. However, the market is poised to witness promising growth prospects in long term, as suggested by a new Future Market Insights (FMI) report. During the forecast period between 2019 and 2029, the specialty yeast market has been projected to reach the valuation of US$ 3.6 Bn.
"Rising demand for customization in the food processing industry and changes in consumer lifestyles is expected generate major opportunities in the specialty yeast market. However, the pandemic is hurting the specialty yeast market as lockdowns keep most essential distribution channels closed," says the FMI analyst.
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Key Takeaways of Specialty Yeast Market Study
- Sales of yeast extracts will continue to hold the lead for food processing applications, while yeast autolysates are witnessing a higher growth rate.
- Saccharomyces cerevisiae will remain highly sought after, substantially surpassing pichia pastoris.
- Food applications will hold pole position, while beverage applications are projected to gain ground during the forecast period.
- Europe will hold a major share of the global specialty yeast market, with North America playing catch up with developments in the food processing sector.
Specialty Yeast Market - Key Growth Factors
- Societal factors such as urbanization, nuclear families, and larger women workforce, drives demand for processed food, which is a primary factor sustaining sales.
- The growing consumption of alcoholic beverages drive market growth through the forecast period.
- Growing niche of non-food applications of specialty yeast contributes to market development.
- Strong consumer demand for natural food additives or ingredients will support the market growth through 2029.
Specialty Yeast Market - Key Restraints
- Side effects such as gas, high blood pressure, bloating in susceptible consumers associated with specialty yeast hinders market growth.
- Regulatory restrictions associated with food additives is having a negative impact on the market.
Impact of COVID-19 on Specialty Yeast Market
As the COVID-19 pandemic continues, the specialty yeast market is expected to go through a steep slide. A number of retail stores have been pushed to shut down during the lockdown, stopping sales. Also, disruptions in the supply chains of non-essential products is hampering revenue flow. As consumers restrict trips to the market, demand is likely to decrease in the short term. Consumers are choosing home cooked meals or online orders, which will influence demand. However, demand is likely to steadily recover after the pandemic subsides.
Explore the full specialty yeast market report with 128 illustrative figures, 128 data tables and table of contents. Request ToC of the study at https://www.futuremarketinsights.com/askus/rep-gb-11527
Competitive Landscape of Specialty Yeast Market
Some of the major companies profiled in this FMI report include, but are not limited to, Levex, Chr. Hansen Holdings A/S, Koninklijke DSM N.V., Archer Daniels Midland Co., AB Mauri, Lallemand, Angel Yeast, Kerry Group, Synergy Flavors, and Lesaffre. Players in specialty yeast market are investing in research for a wider range of applications, with opportunities in flavoring and other functional properties.
More about the Report
This FMI study of 250 pages provides all-inclusive insights on the global specialty yeast market. The market analysis is based on type (yeast extract, yeast autolysate, yeast beta-glucan, yeast derivatives, and others), species (saccharomyces cerevisiae, kluyveromyces, saccharomyces boulardii, and others), and application (bakery, functional food, savory, beverages, feed, and others), across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa).
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About FMI
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