Yeast Extract Market size to exceed $2bn by 2027
Published Date: June 29, 2021 Authors: Kunal Ahuja, Sonal Singh
Yeast Extract Market size is set to surpass USD 2 billion by 2027, according to a new research report by Global Market Insights Inc.
Global yeast extract industry is growing at a significant pace over the past few years due to steady growth of food & beverage and pharmaceutical industry in the U.S., Canada, Germany, India, and China. Shift of health-conscious consumer towards fresh and healthy food products including natural ingredients is projected to drive the market statistics over the forecast period.
Growing demand for cosmetic & personal care products is anticipated to boost the hydrolyzed yeast technology demand.
Hydrolyzed yeast technology segment of yeast extract market is projected to surpass USD 535 million by 2027. Hydrolyzed yeast possesses skin & hair moisturizing and conditioning properties. Thus, it is used in wide range of personal care and cosmetic products such anti-ageing creams, moisturizers, shampoos and conditioners. Factors such as rising aging population and higher standard of living and spending capacity of the consumers has propelled the demand for cosmetic & personal care products across the globe. This in turn, leads to higher demand for hydrolyzed yeast over the projected timeframe.
Rising awareness about the medicinal properties and health benefits offered by brewer’s yeast source will foster its market statistics.
Brewer’s yeast source segment of yeast extract market exceeded USD 270 million in 2020. Brewer’s yeast is termed as medicinal yeast. It helps to cure diarrhea, swine flu, respiratory & heart diseases and diabetes. Brewer’s yeast is rich in fiber and B vitamins and contains plenty of selenium, which helps to improve blood sugar, boost immunity, prevent migraines, and enhance eye health. Owing to its medicinal properties and high nutritional profile, brewer’s yeast is extensively used in food supplements. Moreover, rising spending of consumers on nutritional products to maintain good health has boosted the demand for food supplements offering health benefits. This trend is projected to drive the demand for brewer’s yeast, thereby contributing to the yeast extract industry expansion.
Yeast extract paste form to show lucrative growth, owing to increasing production of animal feed products.
Yeast extract market from paste is anticipated to show moderate CAGR of over 4% in the forecast timeframe. Yeast extract pastes are prominently used in animal feed due to their widespread protection of young animals against diseases. Rising livestock population, growing meat consumption, high focus towards livestock industrialization have propelled the production of nutritious animal feed products. This in turn, boost the yeast extract paste demand.
Growing demand for nutritional ingredients should accelerate yeast extract market from animal feed application
Animal feed application segment surpassed USD 165 million in 2020. Yeast extracts are natural and rich source of proteins, minerals, amino acids, and nucleotides which are beneficial for animal health. Increasing concerns regarding animal health among feed manufacturers is likely to rise the demand for nutritional ingredients such as yeast extract to enhance animal health.
Browse key industry insights spread across 300 pages 385 market data tables and 40 figures & charts from the report “Yeast Extract Market Statistics By Technology (Autolyzed Yeast, Hydrolyzed Yeast), Source (Baker’s Yeast, Brewer’s yeast), Form (Powder, Paste), Application (Food & Beverages [Soups, Processed foods, Dairy Products, Bakery, Sauces & Savoury Flavors], Animal Feed, Pharmaceuticals), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Rise in consumer consciousness towards health and healthy diet in Europe region should propel product demand.
Europe yeast extract market is projected to show significant CAGR over the forecast period and anticipated to surpass USD 770 million by 2027. Rise in consumer health consciousness coupled with increasing prevalence of lifestyle diseases such diabetes, heart diseases and obesity among consumers has led to increased demand for nutritional ingredients such as yeast extract.
Players in the yeast extract market are implementing multiple strategies such as expansion of distribution network & production capacity, partnership, merger & acquisition, and investing on product innovation and portfolio expansion to sustain their position in the global market. The major players include Angel Yeast, Lesaffre Group, AB Mauri, Lesaffre Group, and many other players in the market play significant role.
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