Global Specialty Yeast Market: Overview
The demand within the global specialty yeast market is rising on account of advancements in the domain of food processing. Several types of snacks and sauces can be manufactured with the help of specialty yeast, and this is a key consideration from the perspective of market growth. The food and beverages industry is characterised by a robust supply chain, and hence, quick acquisition of specialty foods by retailers is quite achievable. The presence of a logistically sound food industry has paved way for the growth of the global specialty yeast market.
Investments in the food industry trickle down to several other sub-domains pertaining to this sector. Hence, the global specialty yeast market is expected to grow at the back of an ever-widening portfolio of food products. The application of specialty yeast in preserving meat products has pushed the growth bar of the global market. There is an increased demand for functional foods such as breads, cereals, and nutraceuticals which has also propelled market demand.
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Investment in the global specialty yeast market is a nascent trend that has disrupted the growth dynamics of the market. The market vendors can now capitalise on the calculated opportunity floating in this market, which can in turn aid widen their profit margins.
A report by Transparency Market Research (TMR) on the global specialty yeast market is a deft representation of the forces that have aided market growth. The global specialty yeast market can be segmented on the basis of the following parameters: type, species, application, and region. On the basis of type, the demand for yeast extracts is projected to increase in the years to follow.
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Global Specialty Yeast Market: Notable Developments
The global specialty yeast market has undergone several key developments in recent times. Some of these developments are:
- BioTork LLC, US and Lallemand Biofuels and Distilled Spirits, US have collaborated to develop improved yeast strains. This strategy shall help these vendors in capturing the attention of ethanol manufacturers in the years to follow. Hence, the revenue index of the BioTork LLC is expected to improve in the years to come.
- The acquisition of Ariake, US by Kerry Group has disrupted the competitive dynamics of the global specialty yeast market. The acquisition deal is expected to solidify the position of Kerry Group in the years to come.
Some of the key vendors in the global specialty yeast market are Associated British Foods, Lallemand, Angel Yeast, and Lesaffre.
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Global Specialty Yeast Market: Growth Drivers
- Growing Demand for Preserved Food
The use of specialty yeast in maintaining the freshness of food products has played a vital role in market growth. Moreover, a major part of the product percentage portfolio of the retail sector is covered by food products. This factor has also reeked of growth within the global specialty yeast market.
- Presence of Robust Supply Chains
The presence of an agile and well-connected supply chain for food and pharmaceutical products has played an underhanded role in the growth of the global specialty yeast market. Furthermore, the need for increasing the shelf life of food products has also propelled market demand.
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Global Specialty Yeast Market: Regional Outlook
On the basis of geography, the global specialty yeast market can be segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The specialty yeast market in North America is expanding alongside advancements in the food processing sector of the US.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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