North America Yeast Extract Market size was worth USD XX million in 2020, so it is estimated to reach USD XX million by 2026, growing at a CAGR of XX%. Because of its strong flavor is commonly employed as a flavoring agent to make delicious savory dishes found in a wide range of food products. In addition, the extracts are leaven or fermented in various food products to improve texture and flavor while adding nutritional value. Thus, significant veganism adoption, resulting in increased usage of nutritious yeast extract, is expected to be a critical development in the yeast extract market in the coming years.
Recent Developments
Market Growth
Drivers
The increasing use of yeast extracts in the food, pharmaceutical, and cosmetics industries is driving considerable growth in the yeast extracts market in North America. Yeast extracts are an active component in many culinary applications because they are high in proteins, vitamins, and minerals. The market's expansion is also due to changing lifestyles and rising demand for organic, healthier, and clean-labeled products. The growing number of people adopting the vegan lifestyle and making better choices that are not cruel to animals is propelling the market growth. In addition, the ever-increasing demand for bakery foods and alcoholic beverages has boosted the expansion of yeast extracts. The market for all types of yeast is being driven by the rising demand for yeast as a taste enhancer. Another encouraging reason for yeast extracts is the increasing demand for MSG, a synthetic taste enhancer; the MSG industry is predicted to expand significantly in the future years. Yeast extract has been shown in studies to be an adequate alternative for MSG. Significant mergers and acquisitions, partnerships between small and big essential players in this sector, and effective partnerships are becoming industrial norms, propelling market expansion. The preference of animal food manufacturers for employing yeast extract to enhance flavor also plays a pivotal role in the market expansion of yeast extracts.
Restraints
The hefty initial cost requirements connected with yeast extract production plants and other infrastructure are constraining market growth. Additionally, legal concerns about including yeast extracts as components or flavoring agents to food and feed products are limiting the market's growth. Furthermore, the potential advantages of yeast extracts over GMO alternatives are likely to overcome this constraint in the coming years.
REPORT METRIC |
DETAILS |
Market Size Available |
2020 to 2027 |
Base Year |
2021 |
Forecast Period |
2022 to 2027 |
CAGR |
XX% |
Fastest Growing Market |
Asia Pacific Yeast Extract Market |
Largest Market |
North America Yeast Extract Market |
Segments Analysed |
By Application, By Technology, and By Form |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Countries Analysed |
United States, and Canada |
The North America Yeast Extract Market is segmented by Application, Technology, and Form.
By Application
The market is augmented into Food & Beverages, Animal Feed. In 2019, the food and beverage segment led the market and retained the most significant share. Because of the increasing hypersensitivity triggered by MSG, product demand in the food and beverage sector is increasing dramatically. In addition, the food and beverage application is expected to witness high growth throughout the projected period due to substantial product utilization in saccharification in baking applications. In 2019, animal feed was the second-largest segment. Due to increased sales in this segment, it is expected to proliferate due to various nutritional advantages such as better animal productivity and efficiency, digestibility, and minimized acidity concerns. In addition, the product includes many bio-active ingredients, such as cell wall polysaccharides and nucleotides, beneficial to piglet gastrointestinal health. As a result, it is thought to be a viable in-feed antibiotic alternative.
By Technology
The market is segmented into Hydrolysed and Autolyzed. In 2019, the autolyzed technology section held the most significant market revenue. The segment tends to sustain its leading position throughout the projection because of the distinct taste of autolyzed yeast extracts in various food dishes include bakery items, soups, and dressings. These extracts are high in minerals and vitamin B. Furthermore, the autolyzed category is driven by increased demand for natural food ingredients and clean label products. The autolyzed approach is inexpensive and has a high extraction rate.
The hydrolysis approach, on the other hand, is more expensive but can produce high-quality products. Several technological breakthroughs, such as membrane ultrafiltration technology, flavoring technology, and yeast cell wall breaking technology, are being developed. By using Maillard's reaction, flavor-enhancing technology is employed to create flavored yeast extract with the flavor of chicken, beef, and other meats. Second, Autolyzed yeast is often made by allowing the peptide bonds of the yeast's proteins to hydrolyze. This is accomplished by one of two distinct approaches. First, edible yeast is heated to a required temperature that affects proteolytic enzymes that were intact with the yeast to digest the proteins and break their connections, resulting in different amino acids and peptides.
By Form
The market is primarily augmented into Powder, Liquid, and Others. The powder form dominates the industry in 2019, contributing to a significant chunk. It is predicted to increase in the next six years due to its widespread use in various applications such as baking & confectionery, meat, dairy, pharmaceuticals, and nutritional supplements. The powder form is termed a natural flavor enhancer or flavoring agent that can be used in place of MSG. It's also utilized in bacterial culture media as a nutrient. The powdered substance is far more convenient to use than the paste form. The weighing of powdered items is reasonably precise; the addition is accessible, the package cutting can be discarded, and there is no trouble with the product's low fluidity.
Regional Analysis
North America dominates the necessity yeast extract. The high intake of bakery foods such as bread, pastries, doughnuts, buns, rolls, and croissants in nations mainly the United States, Canada, and Mexico has rendered North America the dominant country in the market for yeast extracts. In addition, consumers in these areas are consuming processed foods at an astounding rate, resulting in a significant increase in processed food producers.
Impact of COVID-19 on North America Yeast Extract Market
Since the outbreak, the number of COVID-19 cases in North America has been increasing. The food and beverage industry has been dramatically impacted by the closure of manufacturing operations and a labor shortage. The virus's spread has resulted in the closure of production plants to prevent infection. Additionally, because of the global lockdown, the transportation of raw materials and finished items is halted. This may result in diminishing manufacturer profitability, which may have an impact on yeast extract demand. As a result of trade restrictions and government-imposed lockdowns, the activities of manufacturers and distributors in the food and beverage business were disrupted.
Key Players
Major Players in the North America Yeast Extract Market are
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