Yeast Extract Market size is expected to reach over USD 2.5 billion by 2030, as per a new research report announced by Global Market Insights Inc.
Rapidly expanding food and beverage (F&B) sector across the Asia Pacific will complement the industry trends. Countries like India and China are witnessing a rise in population growth, which has triggered the need for various food commodities. As F&B manufacturers are ramping up production capacity and introducing novel food production techniques, the demand for these extracts will soar over the coming years.
With the growing prevalence of fast-paced lifestyle, the dietary habits of consumers have evolved significantly over the past decade. The rising consumption of convenient, ready-to-cook, and ready-to-eat food products has increased the demand for natural ingredients among food manufacturers. Yeast extract has gained significance across processed as well as home-cooked meals on account of growing awareness associated with the impact of various artificial additives on health.
Increasing inclination toward fortified packaged foods with high nutritional value is likely to favor industry expansion. These ingredients are a good source of vitamin B, suitable for vegans suffering from vitamin B12 deficiency. They are also a rich source of complete protein, antioxidants, trace minerals, and fiber.
Widespread demand for hydrolyzed yeast in personal care & cosmetic industries
The report cites that hydrolyzed yeast extract market valuation could exceed USD 650 million by 2030, owing to heavy demand in personal care & cosmetics industries. Surging need for high-quality skincare and beauty products will drive use of these substances as natural ingredients. Hydrolyzed yeast extract can act against oxidative stress to improve skin conditions. Cosmetic brands and life science firms are doing extensive R&D to determine the potential benefits of these ingredients. Apart from cosmetics, these extracts are also used in animal feed and food & beverage sectors.
Pharmaceutical applications to represent key opportunities for yeast extract producers
Global yeast extract market share from pharmaceutical applications could go beyond USD 500 million by 2030. The significant rise in geriatric population worldwide has augment the development and production of medicines. Also, the prevalence of several chronic disorders across emerging economies has fueled the demand for pharmaceutical drugs. Robust growth of the healthcare sector in regions such as the APAC and LATAM will bolster the regional yeast extract consumption.
Rising consumption of beer to accelerate brewer’s yeast extract production
Based on source, the yeast extract market share is classified into baker’s yeast, brewer’s yeast, and torula yeast. In 2021, the brewer’s yeast segment was valued at over USD 300 million. This type of yeast is a prominent nutrient-rich ingredient in animal feed produced for fish, swine, and ruminants. It is also a key ingredient used in the production of beer and other alcoholic beverages. Rising consumption of beer, wine, and other beverages in regions such as the U.S. and Europe will bolster the ingredient demand. Annually, people in the U.S. consume around 6.3 billion gallons of beer, which is the preferred choice of drink among most of the American population.
Browse key industry insights spread across 341 pages with 388 market data tables & 49 figures & charts from the report, “Yeast Extract Market size by Technology (Autolyzed Yeast, Hydrolyzed Yeast (Enzymatic Decomposition)), By Source (Baker’s Yeast, Brewer’s Yeast, Torula Yeast), By Form (Powder, Paste), By Application (Food & Beverages [Soups, Processed Foods, Dairy Products, Bakery, Sauces & Savory Flavors], Animal Feed, Pharmaceuticals), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
Higher sales of frozen food to augment the North America industry outlook
North America yeast extract market size is anticipated to witness a CAGR of more than 5% from 2022 to 2030. The presence of large food and beverage manufacturers along with the rising number of bakery outlets in the U.S. and Canada will support yeast extract suppliers. Frozen and packaged food largely dominates the western diet.
In the wake of COVID-19, online sales of packaged food products escalated substantially. E-commerce sales of frozen food witnessed a 75% growth owing to growing consumer preference for frozen meals, poultry, meat, and seafood. These trends indicate a wide potential for yeast extract demand from the F&B sector over the coming years.
Acquisition strategies could reinforce competitive dynamics of yeast extract market landscape
Some of the major yeast extract companies discussed in the report include AB Mauri, Angel Yeast, Alltech, Kerry Group, DSM, Leiber GmBH, Sensient Technologies Corporation, Synergy Flavors, Biospringer, Thai Foods International Co., Ltd, Specialty Biotech, Halcyon Proteins, Kohjin Life Sciences, Titan Biotech Limited Company, Agrano GmbH & Co. KG, PAULA Ingredients, and Lallemand, Inc. The competitive landscape exhibits product development initiatives along with deals and partnerships with other suppliers to gain momentum.
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