Dry Yeast Market Proposal, Demand And Trade Analysis 2034
The dry yeast market is estimated to be valued at US$ 50.36 billion in 2024. The dry yeast is predicted to rise at a moderate CAGR of 7.4% from 2024 to 2034. The global market is anticipated to reach US$ 102.7 billion by 2034.
Growth is underpinned by rising awareness about the importance of nutrition-enhanced animal foods. As pet ownership rises, consumers are looking for healthier food options. Dry yeast helps achieve this objective. They assist in improving digestion and reduce the risk of diseases.
More recently, veganism has dictated dietary preferences, owing to growing environmental degradation concerns posed due to production of animal-based foods. Additionally, vegan feeds are richer in nutritional content and improve feed quality. This shifting consumer trend is compelling manufacturers to incorporate dry yeast in animal feed production.
Palatability is an important factor while selecting animal feeds. Dry yeast helps in this regard by imparting an umami taste, thereby indulging the sensory experience of animals. Based on these trend, the dry yeast market will experience a major uptick across the aforementioned forecast period.
“Surging popularity of yeast-derived products is compelling manufacturing to diversify existing portfolios by introducing new products in collaboration with other players and expansion of their production capabilities,” Nandini Roy Choudhury, Client Partner at Future Market Insights
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Key Takeaways from FMI’s Dry Yeast Market Report
• Active dry yeast shall be the most extensively used culture to enhance pet feeds in the forecast period
• Rising veganism trends are accelerating organic dry yeast usage
• Global dry yeast market shall surpass US$ 103.7 billion by 2034
• Dry yeast market has transitioned from being a niche market to a mainstream market
• Europe shall emerge as a revenue powerhouse of the dry yeast market, attributed to surging awareness about healthy foods
Dry Yeast Market- Key Trends
• Rising preference for clean label ingredients by consumers shall underpin dry yeast market growth in the forecast period
• Humanization of pets is bolstering appetite for high quality and premium pet food options, providing traction to the dry yeast market
• Blanket ban on antibiotics usage in animal feeds is auguring demand for dry yeast as an effective substitute
• High prices of yeast-based feeds renders them unaffordable to low and middle-income consumers, restricting growth prospects
Dry Yeast Market- Competitive Landscape
Prominent players in the dry yeast market include Bellarise, SAF Instant Yeast, ADY, Kerry Group, ADM, Sensient Technologies Corporation, Associated British Foods, Red Star Active Dry Yeast and Titan Biotech Ltd., to name a few. These players are concentrating on introducing new products to enhance their product portfolio.
Titan Biotech, for instance, manufactures the Yeast Extract Powder Type 1 for usage in non-alcohol based foodstuffs. Likewise, ADM Animal Nutrition introduced yeast protein for animals in 2018. Recently, in 2020, it also launched the NutriPass L encapsulated lysine supplement for bovine animals, especially for lactating cows and growing cattle.
