Portland, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Dry Wine Yeast Market by Type (Red Wine Yeast, White Wine Yeast, and Others), End User (Residential and Commercial), and Sales Channel (Direct and Indirect), Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the dry wine yeast industry size was valued at $2.0 billion in 2022 and is projected to reach $3.3 billion by 2032, growing at a CAGR of 5.0% from 2023 to 2032.
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Dry wine yeast is the powdered form of the yeast that is used for the fermentation of grape juice to make wine. The powdered form of dry wine yeast is highly concentrated, and it has been carefully chosen and cultivated to be able to convert the sugar in the grape juice into alcohol during fermentation. Dry wine yeast is one of the most reliable, consistent, and easy-to-use types of yeast. There are many varieties of dry wine yeast available, and each one has its own unique characteristics that affect the taste, smell, and aroma of the wine.
Prime Determinants of Growth:
The global dry wine yeast market is experiencing growth due to several factors, including the rise in wine consumption, growing wine brewing culture in emerging nations, and the emergence of e-commerce. However, fluctuations in grape production and regulatory constraints restrict market growth. Moreover, the increase in technological advancements offers new opportunities in the coming years.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $2.0 Billion |
| Market Size in 2032 | $3.3 Billion |
| CAGR | 5.0% |
| No. of Pages in Report | 252 |
| Segments covered | Type, End User, Sales Channel, and Region |
| Drivers |
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| Opportunities |
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| Restraints |
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The red wine yeast segment to maintain its leadership status throughout the forecast period
Based on type, the red wine yeast segment dominated the market in 2022, accounting for nearly three-fifths of the global dry wine yeast market revenue, and is expected to maintain its leadership status during the forecast period. On the other hand, the others segment is projected to manifest the highest CAGR of 6.3% from 2023 to 2032, owing to the rising red wine consumption, which, in turn, has increased both the demand for and supply of premium yeast strains suitable for the fermentation of red wine.
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The commercial segment to maintain its leadership status throughout the forecast period
Based on end user, the commercial segment dominated the market in 2022, accounting for more than four-fifths of the global dry wine yeast market revenue, and is expected to maintain its leadership status throughout the forecast period. However, the residential segment is projected to manifest the highest CAGR of 5.8% from 2023 to 2032. Owing to the growing consumer interest in specialized and regional wine types observed in the wine business.
The direct segment to maintain its lead position during the forecast period
Based on sales channel, the direct segment dominated the market in 2022 accounting for more than four-fifths of the global dry wine yeast market revenue, and is expected to maintain its lead position during the forecast period. Direct communication between yeast suppliers and winemakers is being emphasized. This is attributed to the fact that direct connections provide improved communication, awareness of the requirements of winemakers, and the provision of specialized solutions. However, the indirect segment would display the fastest CAGR of 5.6% during the forecast period.
Europe to maintain its dominance by 2032
Based on region, Europe held the highest market share in 2022, accounting for more than two-thirds of the global dry wine yeast market revenue, and is likely to dominate the market during the forecast period. This is due to the long history of having a diverse and rich wine making culture. The production of several wine varieties, including well-known red wines, crisp white wines, and sparkling wines such as Champagne and Prosecco, is a specialty of the European market. On the other hand, the Asia-Pacific region would exhibit the fastest CAGR of 7.1% during the forecast period.
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Leading Market Players: -
- Lallemand, Inc.
- Red Star Yeast
- AEB Group
- Angel Yeast Co., Ltd.
- White Labs
- AB Biotek
- Oenobrands SAS
- Lesaffre Et Compagnie
- Enartis
- Laffort SAS.
The report provides a detailed analysis of these key players in the global dry wine yeast market. These players have adopted different strategies such as acquisition, partnerships, and new product launches to increase their market share and maintain dominant shares in the market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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