The global brewer’s yeast market size is expected to reach USD 5.22 billion by 2025 at an 8.0% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Growing demand for by-products in animal feed is likely to augment market size.
Demand for feed supplements is anticipated to exhibit high growth over the coming years, on account of increasing awareness regarding proper animal nutrition and feed supplements. Use of natural additives and ingredients is becoming more widespread in animal feed, which will also aid in market growth. In addition, health benefits associated with brewer’s yeast, such as increasing animal well-being, production abilities, and enhancing intestinal flora, are driving product consumption in animal feed formulations. Animal feed brewer’s yeast is expected to support farmers in meeting this increased demand among consumers, thereby elevating the scope of the market. Research and development activities carried out by market players to provide consumers with efficient products are also expected to boost market growth.
Leading market players are channelizing their efforts for the development of new products and technologies with the help of advanced methods to effectively and efficiently manufacture yeast strains. On account of this, yeast and specialty yeast products are gaining importance among market players across the world. These companies are adopting and implementing various strategic plans to manufacture yeast and specialty yeast products.
Asia Pacific is the fastest-growing market for brewer’s yeast globally. The region is one of the largest animal feed producers in the world, which is expected to play a key role in boosting the utilization of brewer’s yeast-based animal feed in this region. China, India, and Japan are the major animal feed producers in Asia Pacific. Moreover, rising production of swine feed in emerging economies such as Indonesia and Vietnam is expected to have a positive impact on the market over the forecast year.
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Further key findings from the report suggest:
- By type, the dry yeast segment is anticipated to reach a market volume of 667 kilo tons by 2025, at a CAGR of 7.8% from 2018 to 2025
- On the basis of application, the feed supplement segment dominated the global brewer’s yeast market in 2017, with a revenue share of nearly 60.0%
- U.S. has been one of the largest importers of brewer’s yeast, globally; in 2013, the country imported over 38.9 kilo tons of brewer’s yeast, which has increased to a valuation of 144.2 kilo tons as of 2017
- Countries in Asia Pacific, most notably India, Indonesia, and China, are expected to observe commendable growth over the forecast period. In terms of revenue, the India brewer’s yeast market is anticipated to reach USD 164.8 million by 2025
- The global industry is characterized by capacity expansions, mergers and acquisitions, and substantial investments to improve the market share of manufacturers.
- Some of the prominent companies in the industry are Nutreco N.V.; Cargill Inc.; Lesaffre Group; Archer Daniels Midland Company; and Associated British Food Plc.