The global yeast market size is on a trajectory of significant expansion, projected to reach USD 8.5 billion by 2029 from the 2024 valuation of USD 5.5 billion, displaying a promising CAGR of 8.9%.
What specific factors in emerging economies contribute to the surge in demand for yeast in the bakery industry?
Driven by factors like urbanization and evolving consumer preferences, the bakery industry has witnessed significant global growth, particularly in emerging economies. This expansion has fueled a surge in demand for yeast, a crucial ingredient for bread-making. Yeast acts as the leavening agent, responsible for the fermentation process that gives bread its characteristic texture. In emerging economies, the rising preference for convenient and affordable food options, including packaged bread and pastries, has further boosted the demand for yeast.
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The Lactic Acid and Polylactic Acid Market size was valued at USD 1.6 billion and USD 1.3 billion in 2023 and are anticipated to grow at CAGRs of 12.4% and 17.7%, respectively, between 2023 and 2028, attributed to the growing revenue of $2.8 billion and $2.9 billion by 2028. The base year for estimation is 2022, and the historical data spans from 2023 to 2028.
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The soil monitoring market size is estimated to be worth USD 551 million in 2022 and is projected to reach USD 1,088 million by 2027, at a CAGR of 14.6%. Efforts of governments and companies to promote sustainable agriculture practices, the pressing need to preserve soil quality, stringent government regulations pertaining to ecological stability, and the growing need for improving farm productivity to feed the rising population are some of the driving factors for the soil monitoring market.
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The global food fortifying agents market size is estimated to reach $128.0 billion by 2027, growing at a 10.1% compound annual growth rate (CAGR). The global market size was valued $79.3 billion in 2022.The food fortifying agents market involves substances added to food products to enhance their nutritional value. These agents can include various vitamins, minerals, amino acids, and other nutrients that may be lacking in the diet or are added for specific health benefits. The market for food fortifying agents has seen significant growth due to increasing consumer awareness about health and wellness, rising demand for functional foods, and government initiatives to address nutrient deficiencies in populations. Some common food fortifying agents include iron, calcium, vitamins A and D, folic acid, and omega-3 fatty acids. This market is expected to continue expanding as consumers seek out foods with added health benefits and as food manufacturers innovate to meet these demands.
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The agrochemicals market encompasses a wide range of products used in agriculture, including fertilizers, pesticides, herbicides, and plant growth regulators. This market is crucial for enhancing agricultural productivity and ensuring food security by controlling pests and diseases, improving soil fertility, and increasing crop yields. At a 3.7% compound annual growth rate, the global agrochemicals market size is projected to reach $235.2 billion in 2023 and $282.2 billion by the end of 2028.
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