Yeast Extract Market

Yeast Extract Market Size, Share, Growth (2023-2028)

Yeast Extract Market size was anticipated at USD 1.73 billion in 2023 and is determined to reach up to USD 2.25 billion 2028 with a CAGR of 5.40%.

Yeast Extract Market Overview:

Upsurge consumption of alcoholic beverages and growing demand for baked goods are projected to boost the Yeast Extract Market growth as a clean ingredient. Easy access to resources, such as saccharides and other sugar derivatives, is expected to drive the growth of the yeast extract market during the forecast period. The growing demand for nutritional yeast extract and the increased consumption of processed foods are the main growth factors of the Europe Yeast Extract Market in this region. Asia-Pacific Yeast Extract Market is projected to show the highest CAGR during the forecast period. Countries like India and China have a growing demand for products due to the tendency of consumers to buy high-quality food and beverages last is a microscopic single-celled organism of the fungal kingdom and can be found in abundance in nature. The flavor of the yeast extract is similar to that of a vegetable, meat, or chicken broth that has the same proteins as the yeast. The global yeast extract market is experiencing significant growth due to its wide use in different industries. It is available in the supermarket and is used for salty snacks, meat dishes, soups, meat broths, refined sauces, and other prepared foods. Yeast has a spice-like effect and helps reduce salt content without losing flavor. In addition to its use in the food and beverage industry, it is also used in the pharmaceutical and cosmetic industries.

Yeast Extract Market Growth:

The current global pandemic has not left any sector out of its wave of impacts. As the number of people affected by Covid-19 increases, it is not necessary to understand the serious consequences of the pandemic in all corners of the country's economy. Since almost all segments have been the victims of Covid-19's uncertain impacts, even the food and beverage industry in the world is responding to the current crisis by preparing for the impacts of the Coronavirus. In light of the global epidemic, food and hospitality companies have been forced to make tough decisions, such as shutting down transitional food services to comply with travel bans and regulations social distancing, and the impact just doesn't end there. Companies avoid supply chain disruptions: Only a small proportion of food ingredients come from China, but processors are still preparing for the impact by looking for alternative sources to avoid supply chain disruptions supply. Some beverage companies have had to contend with suspensions in their supply of artificial sweeteners that generally come from China. This can have a marginal impact on sales of sugar-free and diet drinks. However, with the current closure of food and beverage establishments and hotels, this impact is expected to go unnoticed.

Recent Developments in the Global Yeast Extract Industry

1. Lesaffre announced the acquisition of the Alltech yeast extract plant in Serbia. With this acquisition, the company will be able to expand its business in Serbia and help achieve a majority market share across the industry.

2. Ohly announced the launch of his latest product called SAV-R-FULL. The product is made from 100% soluble natural yeast extract, fresh in taste and with usage levels of less than 50% compared to conventional products.

3. In January 2017, Lesaffre, a leading global player in the yeast and fermentation industry, announces the acquisition of Sensient's food business and yeast extract plant in Strasbourg.

Yeast Extract Market Drivers and Restraints

Increased consumption of alcoholic beverages and growing demand for baked goods are expected to fuel the market growth of Yeast extracts as a clean ingredient. It is considered a natural flavoring ingredient like herbs and spices.

Among all its unique characteristics, the yeast extract also does not contain halal, kosher, or GMOs, and generally does not contain gluten. Additionally, increasing consumer preference for fresh, healthy food products with natural ingredients is expected to increase their demand. Easy access to resources, such as saccharides and other sugar derivatives, is expected to drive the growth of the yeast extract industry during the forecast period. The bakery product market is expected to increase during the projected period due to the development of new products and innovations. The expansion of market opportunities is attributed to the growing innovation of pharmaceutical manufacturers to save rare diseases, as well as the aging of the population. This product is widely used as a nutritive medium for cell culture, and widely used in the production of antibiotics and organic pharmaceuticals.

It is formed without chemical additives using enzymes that separate yeast proteins in their role of providing flavor. These are removed from the residual insoluble constituents and dried. According to the European Specialty Yeast Products Association, the increasing development of products in the vegan space and the meat alternative creates a new opportunity for the product to provide a clean label and a salty taste. Furthermore, regulatory issues related to the addition of yeast extracts to foods and food products as ingredients or flavoring agents are also limiting the market growth. However, the potential advantages of yeast extracts over their GMO counterparts will likely remove this limitation in the near future.

Yeast Extract Market Segmentation:

The global market can be divided based on

• Application

• Technology

• Form

The autolyzed technologies segment accounted for the majority of over 55% in 2019.

 the flavor of autolyzed yeast extracts in various food applications, such as

• baked goods

• soups

• dressings

These extracts are a rich source of micronutrients and vitamin B. In addition, the growing demand for natural food ingredients and private label products is driving the autolyzed segment. The powder form has conquered the market with an extreme stake of above 50% in 2019 and it is likely to knowledge considerable advances in the upcoming due to its wide use in many applications such as bakery and confectionery, meat, dairy products, medicines, and Food Complements. The powder form is a natural flavor enhancer or flavoring agent, which is used as a substitute for MSG. It is also used as a nutrient for bacterial culture media.

The demand for products in the food and beverage sector is increasing dramatically due to the increase in cases of allergies caused by monosodium glutamate. The agri-food application is expected to gain strength during the forecast period due to the intensive use of products in the fermentation of sugars in bakery applications. The product contains various bioactive elements, including polysaccharides and cell wall nucleotides, which are considered beneficial for the intestinal health and growth of piglets. Therefore, it is believed to be a possible antibiotic substitute in the diet.

Yeast Extract Market Regional Analysis:

The Global Market has been divided based on geography into the regions of

• North America

• Asia Pacific

• Europe

• Latin America

• Middle East and Africa

Europe was the dominant regional market in 2019, representing a share of over 36%. The growing demand for nutritional yeast extract and the increased consumption of processed foods are the main growth factors of the market in this region. In food, there are several applications such as increasing urbanization, changing lifestyle, increasing consumer preference for natural ingredients, intensive use of organic yeast extracts, and increasing demand for baked food products. There are several other key factors driving the growth of the regional market. Also, the increasing demand for ready-to-eat food products due to the change in food preferences will boost the regional market. The product is widely used as a natural ingredient, as a salt-reducing ingredient, and as a flavoring agent in baked goods, canned and frozen soups, sauces, meat and fish, and salty mixes. The Asia-Pacific is expected to record the highest CAGR during the forecast period. Countries like China and India have an increasing demand for products due to the tendency of consumers to buy high-quality food and beverages.

Yeast Extract Market Key players:

1. Kothari Fermentation & Biochem Ltd

2. Kerry Group

3. Titan Biotech Limited Company

4. Oriental Yeast

5. Biorigin

6. AB Mauri

7. Lesaffre Group

8. Kohjin Life Sciences

9. Angel Yeast

10. Leiber GmBH