According to a new report published by Allied Market Research, titled, “Instant Dry Yeast Market by Packaging Type, Distribution Channel and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030,”
The instant dry yeast market size is expected to reach $1,273.50 million by 2030, registering a CAGR of 7.6% from 2021 to 2030.
Instant yeast is more finely ground than active dry yeast. Marketed as dissolving and activating more quickly (thus the instant part), it is nearly identical to active dry. It is also known as bread machine yeast, rapid-rise yeast or quick-rise yeast. Instant dry yeast has the advantages of high activity, stable performance, easy transportation and storage and convenient to use. It is an excellent fermentation agent and biological raising agent, widely used in bread, pastry and other fermented products.
Instant dry yeast can be easily substitute to regular active dry yeast and reduce rise time. Instant dry yeast can be directly added with other ingredients of bread. But active yeast needs to be activated using a warm liquid to make it ready to use. Health benefits associated with instant dry yeast such as healthy digestive system and helps to manage immune system, If used in inappropriate measures or consumed directly will have an adverse effect on the human body and that becomes a major constraint to the dry east market.
The outbreak of COVID-19 has largely and negatively impacted instant dry yeast market. This is attributed to the lockdown implemented across various countries, which has hampered food processing and other processing industries. The pandemic is having a profound impact on the world, and is still affecting many parts of the world.
According to the instant dry yeast market analysis, the instant dry yeast market segmented into packaging type, distribution channel, end user and region. On the basis of packaging type, the market is categorized into pouch, bottle and others. On the basis of distribution channel, the market is segmented into, supermarket/hypermarket, convenience stores, e-commerce and others. By end user, market is categorized into, QSR, food services, bakery and confectionery, household and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Indonesia and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, United Arab Emirates, South Africa, Saudi Arabia and Rest of LAMEA).
On the basis of packaging type, the bottle segment has been gaining significant share in global instant dry yeast market and is estimated to reach $420.7 million by 2030 at a CAGR of 7.64%. Plastic and glass bottles with wax coating majorly used for the packaging of instant dry yeast. Plastic bottles are gaining significant traction in the instant dry yeast market and are expected to continue its traction during the forecast period. This is majorly attributed to benefits such as lightweight, cost-effectiveness, convenient, re-sealable, and flexible so manufacturers can switch from one bottle shape or size to another. Rise in consumer preference for durable, reusable coupled with constantly changing food packaging industry landscape is expected to boost the demand for plastic bottles instant dry yeast. Moreover, low cost, convenience, and excellent printability make it a lucrative packaging solution among other forms of packaging for the instant dry yeast.
According to the instant dry yeast market trends, on the basis of distribution channel, the e-commerce segment is growing at highest CAGR growth rate and is estimated to reach $349.2 million by 2030. E-commerce distribution of the instant dry yeast is gaining major popularity owing to proliferation of internet of things at commercial level. Convenient and easy transportation and globalization promoting the growth of the online distribution of the business to business products such as raw material. Furthermore, growing consumption of the instant dry yeast through household and small industries and hotels and restaurants are expected to boost the demand through various e-commerce platforms including Amazon, eBay, Ali Express, and Walmart.
On the basis of end user, the food services segments accounted for around 24.1% market share in 2020, with the former constituting around 27.53% share and is expected to grow at CAGR of 6.1% during the forecast period. Inclination of consumers toward new cuisines at a reasonable cost boosts the adoption of new technologies for preparing quick-served foods among full-service restaurants. Ongoing trends of luxury dining and tourism are expected to drive the instant dry yeast market through full-service restaurants. In addition, high disposable income boosts the spending capacity of consumers on luxury amenities. Furthermore, upsurge in shopping centers at business hubs across the globe leads to the proliferation of full-service restaurants, which in turn contributes for the growth of instant dry yeast market during the forecast period.
Region wise, Asia-Pacific instant dry yeast market is expected to witness highest growth at a CAGR of 8.3% during the forecast period. Increase in investments by several small and midsized food manufacturing companies in developing countries supports the growth of the market. The major drivers of the Asia-Pacific instant dry yeast market are presence of high population base, changes in taste & preferences of consumers, and surge in number of fast food chains/trucks. Moreover, adoption of western lifestyle and rise in disposable income are anticipated to drive the growth of the market. Rise in purchasing power of the Asia-Pacific population, rapid urbanization, and presence of large customer base preferring instant dry yeast drive the market growth in the Asia-Pacific.
The players operating in the instant dry yeast industry have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Lesaffre, Hagold Hefe Gmbh, Asmussen Gmbh, ACH Food Companies, Inc, Fleischmann's Yeast, LALLEMAND Inc, AB Mauri Food, Pakmaya, Angel Yeast and Keliff'.
Key Findings Of The Study
- The Instant Dry Yeast market was valued at $619.2 million in 2020, and is estimated to reach $1,273.5 million by 2030, registering a CAGR of 7.6% from 2021 to 2030.
- By packaging type, the bottle segment is estimated to witness the significant growth, registering a CAGR of 7.6% during the forecast period.
- In 2020, depending on distribution channel, the supermarket/hypermarket segment was valued at $379.2 million, accounting for 28.4% of the global instant dry yeast market share.
- By end user, the household segment is estimated to witness the significant growth, registering a CAGR of 8.3% during the forecast period.
- In 2020, the U.K. was the most prominent market in Europe, and is projected to reach $122.7 million by 2030, growing at a CAGR of 6.9% during the forecast period.