Redding, California - August 7, 2024
Yeast Extract Market to Reach $2.92 Billion by 2031
Yeast Extract Market Size, Share, Forecast, & Trends Analysis by Type (Autolyzed, Hydrolyzed Yeast), Yeast Source (Baker's, Brewer's, Torula Yeast), Form (Powder, Paste), Application (Food & Beverages, Animal Feed, Pharmaceuticals) -Global Forecast to 2031
Meticulous Research®—a leading global market research company, published a research report titled Yeast Extract Market Size, Share, Forecast, & Trends Analysis by Type (Autolyzed, Hydrolyzed Yeast), Yeast Source (Baker's, Brewer's, Torula Yeast), Form (Powder, Paste), Application (Food and Beverages, Animal Feed, Pharmaceuticals) - Global Forecast to 2031.
According to this latest publication from Meticulous Research®, the global yeast extract market is projected to reach $2.92 billion by 2031, at a CAGR of 6.8% from 2024 to 2031.The global yeast extract market is expanding due to rising demand for bakery items, a growing population of vegans and vegetarians, increased consumption of alcoholic beverages, and a trend towards reducing salt intake. Nevertheless, the market growth may be somewhat constrained by the high availability of substitutes and fluctuations in raw material prices.
Furthermore, the increasing demand for natural ingredients and plant-based food and meat alternatives presents significant growth opportunities for stakeholders in the yeast extract market. Their contributions are crucial in overcoming the substantial challenges faced by this market, such as the high initial cost of setting up a production plant and the stringent regulatory process.
Moreover, the yeast extract market is witnessing a significant shift towards clean-label products and an increasing health consciousness among consumers. These trends are shaping the market dynamics and influencing consumer preferences.
Key Players:
The global yeast extract market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the global yeast extract market are Lesaffre (France), Kerry Group plc (Ireland), AngelYeast Co., Ltd. (China), Leiber GmbH (Germany), Lallemand Inc. (Canada), Synergy Flavors, Inc (U.S.), Thai Foods International Co., Ltd. (Thailand), Thai Foods International Co., Ltd. (Thailand), Halcyon Proteins Pty Ltd. (Australia), Alltech Inc (U.S.), Ohly GmbH (Germany), KOHJIN Life Sciences Co., Ltd. (Japan), Sensient Technologies Corporation (U.S.), Oriental Yeast Co., Ltd. (Japan), Kothari Fermentation and Biochem Ltd. (India), Koninklijke DSM N.V. (Netherlands), and Novozymes A/S (Denmark).
The global yeast extract market is mainly segmented by type (autolyzed yeast extract and hydrolyzed yeast extract), yeast source (baker's yeast, brewer's yeast, and torula yeast), form (powder, paste, liquid, and flakes), application (food and beverages {soups, prepared meals & snacks, dairy products, bakery, sauces & savory flavors, beverages, and other food products}, animal feed {poultry, ruminants, swine, other animals}, cosmetics and personal care, pharmaceuticals, and other applications), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa). The study also evaluates industry competitors and analyses the regional and country-level markets.
Based on type, the yeast extract market is segmented into autolyzed yeast extract and hydrolyzed yeast extract. In 2024, the autolyzed yeast extract segment is expected to account for the larger share of over 62.0% of the yeast extract market. The large market share of this segment is due to the preference for autolyzed yeast extract, which is produced through autolysis—a process where yeast cells break down using their own enzymes. This method is simpler and less controlled than hydrolysis. Autolyzed yeast extract is predominantly used in the food industry to enhance savory flavors and deliver an umami taste. Moreover, the carefully controlled autolysis processes result in a variety of flavors with consistent quality and effectiveness, contributing to the market's growth.
Based on yeast source, the yeast extract market is segmented into baker's yeast, brewer's yeast, and torula yeast. In 2024, the baker's yeast segment is expected to account for the largest share of the yeast extract market. The substantial market share of this segment is driven by several factors, including its high protein content, effective nutrient retention, appealing flavor profile, ease of production, consistency, safety, and stability. Additionally, the widespread availability of baker’s yeast enhances its market presence. Notably, baker’s yeast preserves nutrients throughout the fermentation process, which boosts the nutritional value of the resulting yeast extract.
Based on form, the yeast extract market is segmented into powder, paste, liquid, and flakes. The powder segment is expected to account for the largest share of the yeast extract market in 2024. This form's ability to make food goods like sauces and snacks convenient to use is what accounts for its significant market share. Since powder is simpler to handle, transport, and store than other forms, powder is typically what the makers give for their products.
Based on application, the yeast extract market is segmented into food and beverages, animal feed, cosmetics and personal care, pharmaceuticals, and other applications. The food & beverages segment is expected to account for the largest share of over 36.7% of the yeast extract market in 2024. This segment's significant market share can be ascribed to elements including the growing popularity of processed foods, such as dairy substitutes, baked goods, energy drinks, and confections. In addition, the market is expanding due to consumer desire for clean-label products, plant-based diets or meat substitutes, natural components, healthy food items, and the growing usage of these products.
Geographic Review
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, New Zealand, Indonesia, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, Mexico, and Rest of Latin America), and the Middle East & Africa.
Europe is predicted to hold the greatest share of the worldwide yeast extract market in 2024, of over 29.8%, followed by North America and Asia-Pacific. The European yeast extract market is estimated to be worth $548.1 million in 2024. Europe's substantial market share is driven by several key factors: the increasing demand for processed foods, a growing vegetarian population, and heightened interest in plant-based foods and meat alternatives. Additionally, there is a rising consumer preference for natural ingredients, a growing demand for clean-label products, and an increasing adoption of nutritious food options.
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Key Questions Answered in the Report-
- What is the value of revenue generated by the sale of yeast extract?
- At what rate is the global demand for yeast extract projected to grow for the next 5-7 years?
- What is the historical market size and growth rate for the yeast extract market?
- What are the major factors impacting the growth of this market at global and regional levels?
- What are the major opportunities for existing players and new entrants in the market?
- Which type, yeast source, form, and application segments create major traction for the manufacturers in this market?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the yeast extract market?
- Who are the major players in the yeast extract market? What are their specific product offerings in this market?
- What recent developments have taken place in the yeast extract market? What impact have these strategic developments created on the market?
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