Fresh yeast market, in terms of value, is projected to register a pattern of high growth with a CAGR of 6.0% between 2018 and 2026, Persistence Market Research predicts.
On analyzing the fresh yeast market on a global perspective that includes organic and conventional fresh yeast, the demand for organic fresh yeast is increasing at a robust growth rate of CAGR of 6.2% over the forecast period.
The key driver behind the increasing demand for organic fresh yeast is owing to a rise in the demand for organic products as consumers are gradually adopting these products into their regular diet, the analysts from the research company said. Currently, the majority of demand for organic fresh yeast originates from North America and Western European countries. Though organic yeast accounts for a lower value share as compared to conventional yeast products, over the coming years, organic yeast is expected to gain traction.
Bakery and confectionery segment made up the majority of market share on a volume basis as fresh yeast is used on a large scale in the production of baked goods and bread. The rise in the consumption of baked good has been indirectly triggering the demand for the yeast market in the global market.
At the distribution level, global fresh yeasts market is segmented into business to business and business to consumer distribution channel segments. Furthermore, at a business to consumer segment, fresh yeasts market is sub-segmented into hypermarket/supermarket, convenience store, specialty store, e-commerce channel, and other retail formats of distribution. In many countries such as Japan, China, Brazil, and others, it is noted that there are weak distribution networks for the distribution of yeast products. Manufacturers are using selective modes of distribution channels in order to reach out to consumers and so the demand for fresh yeasts is lower at the business to consumer point of sale.
At the regional level, fresh yeast has the highest consumption in the European market followed by North America. This is largely attributed to the enormous consumption of fresh yeasts in bakery, confectionery, soups, sauces, savory and snacks. By regional level, the markets for fresh yeast are split into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.