Yeast Extract Market is estimated to be US$ 2.88 billion by 2030 with a CAGR of 5.7% during the forecast period
Yeast Extract is a clean label ingredient used in food and beverage products such as sauces, soups, ready meals, and savory snacks. Yeast extract is made from fresh yeast used in bread, beer, and wine production. Furthermore, producers see the animal feed and microbial vitamins as target application regions, with yeast extract use anticipated to account for 45% of overall intake.
Probiotic products also used as dry yeast solely or in a aggregate with correct bacteria to provide the dietary benefits. Nutritional yeasts have enough quantity of protein content material and have amino acid compound that are commonly better than grains and oil seed diets.
Region Analysis:
North America is currently the center of global yeast extract market boom, with the United States accounting for a giant part of the area's marketplace revenue. By the year 2021, the worldwide market fee of yeast extract within the Asia Pacific will surpass that of North America, as a result of the recognition of luxury food products and the growing way of life conditions.
As the nearby market will preserve to lead, growth possibilities had been identified in Latin America, prompting industry members to rethink their tactics.
Key Development:
· In July 2021 – Biospringer by Lesaffre, announced an expansion on its yeast extract production site in Cedar Rapids, lowa, United States. Biospringer by Lesaffre’s varied range of yeast ingredients is vital for multiple food and beverage industry applications. This investment will aid the growing market trend for natural-origin ingredients derived from fermentation.
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Segmentation:
The global Yeast Extract Market accounted for US$ 1.7 billion in 2020 and is estimated to be US$ 2.88 billion by 2030 and is anticipated to register a CAGR of 5.7%. The global Yeast Extract Market is segmented based on product type, form, application, distribution channel, and region.
· On the basis of type, the Global Yeast Extract Market is segmented into Autolyzed Yeast Extract and Hydrolyzed Yeast Extract.
· On the basis of form, the Global Yeast Extract Market is segmented into Powder, Liquid, and Flakes.
· On the basis of Application, the Global Yeast Extract Market is segmented into Food Savories and Snacks, Soups and Sauces, Dairy Products, Bakeries and Confectioneries, Meat and Poultry Products and Others, Beverages, Dietary Supplements, Cosmetics and Personal Care.
· On the basis of Distribution Channel, the Global Yeast Extract Market is segmented into Direct, Indirect, Hypermarkets/Supermarkets, Convenience Stores, Specialty Retail Stores, E-commerce, and Others
· On the basis of region, the global Yeast Extract Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Analysis:
The key players operating in the global Yeast Extract Market includes Inland Island Yeast Laboratories, Inc., Solgar, Inc., Associated British Foods plc, Lallemand, Inc., Angel Yeast Co. Ltd., Laffort SA, Alltech, Inc., Oriental Yeast Co. Ltd, Omega Yeast Labs, Inc., and Bragg Live Foods Products, Inc.
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