Yeast Flakes Market to Reach $1.4 Bn, Globally, by 2030 at 9.1% CAGR: Allied Market Research
Increase in awareness about health, rise in demand for convenience food, and change in culture & lifestyle in the emerging Asian market drive the growth of the global yeast flakes market.
PORTLAND, Ore., April 7, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Yeast Flakes Market by Form (Flakes, Powder, and Others), Application (Foods & Beverages, Dietary Supplements, Animal Feed, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030". According to the report, the global yeast flakes industry generated $0.6 billion in 2020, and is anticipated to generate $1.4 billion by 2030, witnessing a CAGR of 9.1% from 2021 to 2030.
Prime determinants of growth
Increase in awareness about health, rise in demand for convenience food, and change in culture & lifestyle in the emerging Asian market drive the growth of the global yeast flakes market. However, availability of healthier substitutes and high cost of production of organic foods hinder the market growth. On the other hand, surge in willingness of consumers to buy premium and environment friendly products presents new opportunities in the coming years.
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Covid-19 Scenario
- The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global yeast flakes market, especially during the initial phase.
- Food & beverages, and dietary supplements industry has experienced a significant decline in its sales, due to which, the demand for yeast flakes reduced as well.
The powder segment to maintain its leadership status throughout the forecast period
Based on form, the powder segment held the highest market share in 2020, accounting for nearly two-thirds of the global yeast flakes market, and is estimated to maintain its leadership status throughout the forecast period. This is because powder is a flexible ingredient that goes well with almost any diet or eating style. Moreover, the flakes segment is projected to manifest the highest CAGR of 9.3% from 2021 to 2030.
The food & beverages segment to maintain its lead position during the forecast period
Based on application, the food & beverages segment accounted for the largest share in 2020, contributing to more than three-fifths of the global yeast flakes market, and is projected to maintain its lead position during the forecast period. This is owing to increasing demand for functional foods and high nutritional food products. However, the animal feed segment is expected to portray the largest CAGR of 9.5% from 2021 to 2030.
North America to maintain its dominance by 2030
Based on region, North America held the highest market share in terms of revenue 2020, accounting for nearly half of the global yeast flakes market, owing to inclination toward yeast flake products. Moreover, the LAMEA region is expected to witness the fastest CAGR of 9.9% during the forecast period, owing to changing lifestyles and eating habits of consumers in the region.
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Leading Market Players
- Alla's Posh Flavors
- Anthony's Goods
- Hoosier Hill Farm LLC
- Lesaffre, Now Foods
- Nunaturals
- Sari Foods
- Sattvic foods
- Urban Platter
- Vvegano.
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