Market Trends of Asia-Pacific Yeast and Yeast Extract Industry
This section covers the major market trends shaping the APAC Yeast & Yeast Extract Market according to our research experts:
Food and Beverage Industry Emerged as the Most Promising Application
Food and beverage industry in the region was witnessed as the most promising sector in the consumption of yeast, owing to high consumption of beer and other alcoholic beverages in the countries like China, Japan, and India. On the other hand, growing consumption of bread and baked goods as a result of increased demand of convenience foods, has further boosted the ingredients sales. In fact, according to ITC Trade Map, one of the leading bakery consumer of the region- China has been increasing bakery imports over the years portraying increased demand for baked goods and potential for domestic manufacturers to cater the demand. Consumers are constantly demanding for free-from and specialty bread impacting the inflation on retail prices. This is driving the demand for baker's yeast in bread and bakery product application.
India to Foster the Market Growth
India - backed by its emerging economy and growing consumer market of food and beverage products, portrays a much promising space for yeast ingredients during the forecast period. However, stringent government regulation and restricted yeast incorporation in food products are few factors considered to be pulling down the sales of yeast as expected. The country's food regulation organization that is FSSAI in 2019 introduced the provision restricting the yeast count in beer. The authority stated that regular beer must be entirely free of yeast while draught beer to be permitted a ceiling of 40 colony-forming units (CFU), in order to maintain health and safety standards during the brewing and stocking processes, across the microbreweries in the country.
