Bioethanol Yeast Market Size, Share & Trends Analysis Report By Product Type (Baker’s, Brewer’s), By Application (Cleaning & Disinfection, Biofuel), By Region (North America, MEA), And Segment Forecasts, 2021 - 2028
New York, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Bioethanol Yeast Market Size, Share & Trends Analysis Report By Product Type, By Application, By Region And Segment Forecasts, 2021 - 2028" - https://www.reportlinker.com/p06179083/?utm_source=GNW
Bioethanol Yeast Market Growth & Trends
The global bioethanol yeast market size is expected to reach USD 32.67 billion by 2028, registering a CAGR of 14.04% over the forecast period, as per the new report. The market is driven by the rising awareness about sustainable alternatives over petrochemical feedstock, such as biofuels, coupled with the rapidly expanding food and beverages industry.
There is a rising demand for bioethanol yeasts-based disinfection and sanitation products at present owing to the surging requirement to improve hygiene in hospitals, offices, and other public places to inhibit the spread of the infectious COVID-19 disease among staff and patients.The market is also driven by the rising awareness among people about personal hygiene.
Furthermore, governments in Europe and North America have implemented stringent regulations for the use of chemical-based formulations, which is expected to boost the product demand, thereby supporting market growth.
However, the product cost is majorly dependent on raw material prices.The costs associated with the procurement of raw materials directly influence the overall cost of bioethanol yeast production.
The prices of feedstock, such as corn, gasoline, crude oil, wheat, and soybean oil, are the major factors affecting the product costs.The supply-demand dynamics of the global market are expected to fluctuate owing to the rising demand and shortage of supply.
The product is application-specific, which prompts companies to majorly adopt value-based pricing. Bioethanol yeast is composed of similar materials but with different areas of application, it needs to be treated differently as it provides an opportunity for manufacturers to increase their margins without increasing their production costs.
Moreover, the growth of the bakery sector in Europe, especially in Germany, as the country is the largest consumer of rolls and bread in the world, is anticipated to positively impact the product demand over the forecast period.In terms of supply and demand at a global level, manufacturers are inclined toward raw material procurement as the key raw materials used in product manufacturing are crop residues.
These products are already in a state of oversupply, they also attract demand from other markets, such as biofuel and biogas generation, which negates the overcapacity of raw material availability.
Bioethanol Yeast Market Report Highlights
• In terms of volume, the baker’s yeast product segment accounted for a prominent share in the market in 2020 and is expected to witness steady growth over the forecast period
• The cleaning & disinfection segment is projected to register the fastest CAGR over the forecast period due to the increasing cleaning and disinfection activities amid the COVID-19 pandemic
• In2020, North America accounted for the highest revenue share of the global market due to increased focus on biofuel production coupled with household hygiene practices
• Increasing mergers & acquisitions and new product development activities by key industry participants are anticipated to pave way for higher product demand worldwide
Read the full report: https://www.reportlinker.com/p06179083/?utm_source=GNW
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