Indonesia Yeast Market: Import Trend Analysis
In the Indonesia yeast market, the import trend exhibited a growth rate of 2.08% from 2023 to 2024, contrasting with a compound annual growth rate (CAGR) of -6.87% from 2020 to 2024. This shift could be attributed to evolving consumer preferences or changes in trade regulations impacting market dynamics.
Indonesia Yeast Market Synopsis
Indonesia Yeast Market witnessed a significant growth in recent years owing to growing food and beverage industries in Indonesia. The food and beverage industry grew by 3.75% in the first quarter of 2022, higher than the first quarter of 2021 which recorded 2.45% growth. According to Indonesian Wheat Flour Producers Association (Aptindo) Indonesia's consumption of wheat has increased, from 0.4% in 2020 to 4.6% in 2021. Moreover, in ethanol industry, the Indonesian government is planning to invest in the production of biofuels, particularly ethanol for instance by 2025, the government urges to record a 25% increase in the proportion of biofuels in the nation's energy mix which would further drive the demand for ethanol. Yeast used as a primary ingredient in the production of biofuel is expected to drive the growth of ethanol market. However, Indonesia yeast market witnessed contraction, in revenues, during 2020 on the account of fall in revenues from the commercial sector, halting of several projects on account of nationwide lockdowns owing to the spread of COVID-19.
According to 6wresearch, the Indonesia Yeast Market revenue size is projected to grow at a CAGR of 5.1% from 2023E-2029F. The market is expected to grow in the future due to an increasing demand for bakery goods in Indonesia along with increased disposable incomes, evolving lifestyles, and a growing desire for quick and easy meals, which in turn may benefit the yeast industry. Additionally, major hotel chains are expanding their presence in the country for instance IHG announced intentions to expand its Holiday Inn, Holiday Inn Express, and Crowne Plaza hotel brands by opening 15 additional properties throughout Indonesia by 2024 this would result into an increase in the demand for yeast in the restaurants and hotel chains, and it will further boost the Indonesia Yeast Industry.
Market by Type
Baker’s yeast is expected to witness a significant growth in the coming years in comparison to its counterpart's brewer’s yeast, wine yeast bioethanol yeast and feed yeast as it is being predominantly used for the baking purposes. Baker’s yeast segment which is becoming increasingly popular will become one of the most significant reasons for the Indonesia Yeast Market Growth.
Market by Form
Owing to rising interest in bakery products across Indonesia, the demand for active yeast and fresh yeast would witness significant growth in forthcoming years as it is mostly used in baking active and fresh yeasts are utilised as they are more convenient and easier to use.
Market by Application
As the population grows overall and middle- to upper-class consumer classes also grows, it is anticipated that the food along with beverage market will continue to expand steadily in Indonesia, which is anticipated to expand the application of yeast in the food industry.
Market by Regions
On account of Java being the most populous region in Indonesia, along with key developments in the food and beverage industry, Java is projected to grow faster in comparison to other regions, i.e, Sumatra, Kalimantan, Sulawesi; thus, the Java region is likely to generate more revenues in Indonesia Yeast Market in near future.
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Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 11 Years Market Numbers.
- Historical Data Starting from 2019 to 2022.
- Base Year: 2022
- Forecast Data until 2029.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- Indonesia Yeast Market Outlook
- Historical Data and Forecast of Indonesia Yeast Revenues & Volume for the Period 2019 – 2029F
- Indonesia Yeast Market Trend Evolution
- Indonesia Yeast Market Drivers and Restraints
- Indonesia Yeast Porter's Five Forces
- Indonesia Yeast Industry Life Cycle
- Historical Data and Forecast of Indonesia Yeast Market Revenues & Volume By Type for the Period 2019 – 2029F
- Historical Data and Forecast of Indonesia Yeast Market Revenues & Volume By Form for the Period 2019 – 2029F
- Historical Data and Forecast of Indonesia Yeast Market Revenues By Application for the Period 2019 – 2029F
- Key Performance Indicators
- Indonesia Yeast Import Export Trade Statistics
- Market Opportunity Assessment
- Indonesia Yeast Top Companies Market Share
- Indonesia Yeast Competitive Benchmarking By Technical and Operational Parameters
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
Thereportprovides a detailed analysis of the following market segments:
By Type
- Baker’s Yeast
- Brewer’s Yeast
- Wine Yeast
- Bioethanol Yeast
- Feed Yeast
By Form
- Fresh
- Active
- Instant
- Others
By Application
- Food
- Beverages
- Bioethanol
- Pharmaceuticals
- Feed
- Others
By Regions
- Java
- Sumatra
- Kalimantan
- Sulawesi
- Others
