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on April 23, 2024
The global yeast extract industry is expected to rise from US$ 1,472.9 million in 2023 to US$ 1550.9 million in 2024. The market is projected to reach a value of US$ 2,584.0 million by 2034, expanding at a CAGR of 5.78% over the forecast period.
North America now has the fastest-growing yeast extract market, with the United States accounting for more than half of total sales in the region. The Asia Pacific yeast extract market will outperform the United States by 2022, because to the prevalence of high-end meals and improving living levels.
Yeast extract is growing more popular as a supplement in the food and beverage industries, and it is projected to continue to receive significant investment. Sauces and savoury flavourings had the highest absorption of autolyzed yeast extract, followed by processed meals and dairy.
Yeast is used in the making of bread and beer to make yeast extract, a flavour component. It can be found in a wide range of foods, including cheese and sauce. Yeast extract imparts a flavour known as “umami.”
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Yeast extract is made by adding sugar to yeast in a hot environment. The yeast’s outer coating begins to weaken as its walls attempt to expand. This mixture is centrifuged, and any loose yeast walls are washed away.
The market is expected to grow due to increased consumption for bakery food items and an increase in the consumption of alcoholic beverages.
Furthermore, increased consumer demand for nutritious, healthful produce made from natural ingredients is expected to boost demand. The yeast extract market is expected to increase throughout the forecast period due to the easy availability of resources such as saccharides and other sugar compounds at reasonable prices.
A wide range of yeast products, as well as its ingredients, are widely utilised, manufactured, and marketed commercially. Yeast is now being utilised commercially in animal feed all over the world. Several studies have been conducted to evaluate animal health and performance after the inclusion of yeast extracts in the diet.
Key Takeaways from Market Study
- The yeast extract market is expected to expand at CAGRs of 8.2% and 7.4% in America and the APAC, respectively, through 2032.
- Europe market currently holds 24% share of the total yeast extract marketplace.
- Dry yeast is also used in probiotic, either alone or in conjunction with beneficial bacteria, to give nutritional advantages. Nutritional yeasts include adequate protein and amino acid compounds that are typically greater than grains and oil seed diets.
- Yeast extract sales are increasing globally due to rising customer demand for healthy foods.
- Due to the severe COVID-19 crises, the industry for yeast extract was directly impacted, causing a trade stagnation. Nevertheless, with financial systems giving possibilities and growing customer desire for safe and healthy produce, the industry is likely to rise significantly.
Competitive Landscape
Key players in the yeast extract market are concentrating their efforts on research & innovation in aims to enhance the quality of their offerings.
- Angel Yeast Co., Ltd, that is a Chinese high-tech yeast firm, has announced the establishment of a joint venture company to spend USD 15.4 million in the acquisition of Shandong Bio Sunkeen Co, Ltd’s yeast-related assets. The firm hopes to improve its manufacturing capacity as well as solidify and enhance its position in the industry by doing so. As the industry continues to develop, the purchase of Bio Sunkeen will enable the firm to quickly solve possible capacity shortfalls.
- Associated British Foods which is an international food, has confirmed that this has signed an agreement with W Jordan & Son Limited, a UK morning cereals and cereal bar company, to combine the Jordans and Ryvita crispbread and nutritious snacking businesses. The merger of Jordans and Ryvita will establish Jordans and Ryvita as a market leader in the provision of goods to fulfil rising customer usage of natural additives and healthy eating.
Market Segments Covered in Yeast Extract Market Analysis
By Grade :
- Food Grade
- Feed Grade
By End Use :
- Food and Beverages
- Soups
- Processed Food
- Dairy Products
- Bakery
- Sauces & Savory Flavors
- Non-alcoholic Beverages
- Alcoholic Beverages
- Animal Feed
- Pharmaceuticals
- Microbial Nutrients
- Cosmetics & Personal Care
- Others (Biofuel & Biomass Production)
By Region :
- North America
- Latin America
- Europe
- Middle East and Africa
- Asia Pacific