The U.S. and Mexico yeast market is expected to reach USD 2.2 billion by 2022 at a 7.8% CAGR
U.S. and Mexico Yeast Market Analysis By Product (Baker's Yeast, Feed Yeast, Bioethanol Yeast), By Application (Food & Beverages, Feed, Biodiesel), By Region, And Segment Forecast, 2012 - 2022
LONDON, March 19, 2018 /PRNewswire/ -- Download the full report: https://www.reportbuyer.com/product/5360462
The U.S. and Mexico yeast market is expected to reach USD 2.2 billion by 2022 at a 7.8% CAGR, according to a new report by Grand View Research, Inc. Rise in food consumption and increased manufacturing of biodiesel will drive market growth.
The U.S. and Mexico market is expected to grow rapidly owing to rise in demand from the food and beverage industry. Rise in consumption of processed food by millennials is likely to augment industry growth. On account of rising health awareness, consumption of food products comprising natural ingredients is expected to increase rapidly. In addition, rise in number of local breweries and traditional bakery stores is expected to propel demand.
Major industry participants have heavily invested in R&D to develop new products and increase the application of yeast in bakery products. High R&D expenditure, innovation in manufacturing, and increased focus of companies on maintaining and strengthening relations with end-use industries are expected to provide new opportunities to market participants.
Further key findings from the report suggest:
• Baker's yeast was the dominant product segment in 2014, in terms of volume, and will expand at a CAGR of 7.7% over the forecast period due to increased demand from the F&B sector
• Bioethanol yeast is projected to exhibit a CAGR of 5.4% in terms of revenue due to increased usage as a fuel source
• Application as feed is projected to expand at a CAGR of 5.9% in terms of volume from 2015 to 2022 due to increased demand from livestock and meat industries
• Application as biodiesel is anticipated to register a CAGR of 11.1% in terms of volume from 2015 to 2022 due to rise in demand for environment-friendly fuel
• Manufacturers are looking to enter into long-term contracts with end-use industries to increase annual sales and strengthen market position
• In March 2016, Lallemand Inc. acquired USA Yeast, LLC to enhance production capabilities in North America and cater to demand for yeast in the region
• In July 2015, Angel Yeast Co., Ltd. signed an agreement to build its second overseas yeast plant in Russia with an investment worth USD 75 million. This agreement was signed with the state government to improve globalization strategies and expand geographical presence.
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