The bioethanol yeast market has experienced rapid growth, increasing from $17.81 billion in 2023 to $20.14 billion in 2024, showing a notable compound annual growth rate (CAGR) of 13.1%. This growth is attributed to rising demand for renewable energy, government policies and mandates, increased environmental concerns, expansion of biofuel production facilities, and advancements in yeast strain development. By 2028, the market is projected to grow to $33.99 billion, reflecting a CAGR of 14.0%. Expected growth drivers include a focus on renewable energy, biofuel blending mandates, continuous technological innovations in fermentation, global expansion of the biofuel industry, and increased market collaborations and partnerships. Notable trends for the forecast period include research and development collaborations, exploration of co-fermentation strategies, adoption of next-generation sequencing (NGS), market expansion in developing regions, and regulatory support for biofuel initiatives.
Major Driver In The Bioethanol Yeast Market
The bioethanol yeast market anticipates growth driven by the increased consumption of bakery products and alcoholic beverages globally. Bakery goods and alcoholic beverages, fermented from sugars in various ingredients, rely on bioethanol yeast for their production processes. Notably, in September 2022, the US Bureau of Labor Statistics reported a 15.9% increase in spending on alcoholic beverages in 2021 compared to the previous year, with a staggering 69.4% rise in alcohol expenditure outside homes. Concurrently, according to the Government of Canada's trend sector analysis, retail sales of baked products surged at a compound annual growth rate (CAGR) of 4.6% from 2017 to 2021, reaching a global value of US$407.2 billion. This surge in consumption fuels the growth of the bioethanol yeast market. Market size data for 2023, 2024, and 2028 underscore this growth trend.
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Bioethanol Yeast Market Competitive Landscape
Kagome Co. Ltd., Cargill Incorporated, Archer-Daniels-Midland Company, Associated British Foods plc, Ohly, Koninklijke DSM N.V, Kerry Group plc, POET LLC, Groupe Soufflet, Green Plains Inc., Lesaffre, Novozymes A/S, Angel Yeast Co. Ltd., Alltech, Sensient Technologies Corporation, ICC Brazil, Lallemand Inc., Alto Ingredients, Chr. Hansen A/S, Leiber GmbH, Corbion, Kemin Industries Inc., Algol Chemicals, Puratos Group, LanzaTech, BIORIGIN, Algist Bruggeman NV, Kothari Fermentation and Biochem Ltd., Omega Yeast Labs LLC, Foodchem International Corporation, AB Mauri, Oriental Yeast Co. Ltd., Pacific Ethanol Inc., Fermentis (Société Industrielle Lesaffre)
Key Bioethanol Yeast Market Trend
Product innovations are crucial in the bioethanol yeast market. Companies are investing in R&D to develop new products. For instance, in October 2021, Novozymes A/S launched Innova Quantum, a comprehensive fermentation solution. This robust yeast solution offers a 2-3% increase in ethanol yield and extended fermentation times, providing enhanced efficiency and reduced need for yeast nutritional supplements.
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Bioethanol Yeast Market Segmentation
The bioethanol yeast market covered in this report is segmented –
1) By Type: Yeast Extract, Autolyzed Yeast
2) By Genus: Saccharomyces, Kluyveromyces
3) By Form: Active, Instant, Fresh
4) By Application: Food, Animal Feed, Biofuel, Cleaning And Disinfection, Other Applications
By Geography:The regions covered in the bioethanol yeast market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Europe was the largest region in the bioethanol yeast market in 2023.
The Bioethanol Yeast Global Market Report 2024 furnishes information about the global bioethanol yeast market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
