Global Market Insights, Inc. has added a new report on Yeast extract market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape of market in tandem with its competitive terrain. Yeast extract market is slated to cross a valuation of USD 1.8 billion by 2024, subject to the fact that the product boasts of a massive application spectrum, such as the animal feed, food & beverages, and pharmaceuticals sectors.
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Yeast extract is basically a natural ingredient that encompasses high-quality proteins, minerals, carbohydrates, B complex vitamins, amino acids, nucleotides, and lipids and is predominantly used as a food flavoring agent. It finds applications in processed and canned food, frozen meals, dietary supplements, and pharmaceutical and dairy products, primarily due to the fact that it contains essential nutrients that promote the growth of beneficial microorganisms. In addition, the extract enhances the taste and flavor of food products and is extensively used in the food & beverage sector, thereby propelling Yeast Extract Market, slated to grow at a rate of 5.5% over 2016-2024.
Yeast extract industry is characterized by novel product developments. For instance, Lallemand, a renowned yeast & bacteria manufacturing and processing firm, recently came up with a unique yeast extract product called Prim Lyfe 175A, which can be used as a viable alternative to meat as it imparts a similar taste, texture, and flavor, and is also the first yeast extract product that contains more than 70% protein content. Many other companies have also been striving to develop innovative products, which is likely to propel yeast extract market.
Yeast extract industry is also characterized by frequent mergers & acquisitions. For instance, Lesaffre, a major participant of global yeast extract market, recently declared that it plans to acquire Sensient‘s Strasbourg yeast extract food business with an aim to improvise on product development, enhance operational productivity, and increase the geographical scope of the business.
Worldwide yeast extract market share is quite consolidated and involves the participation of selected companies such as Bioorigin, Halcyon Proteins, Angle Yeast, Oriental Yeast, Lallemand, Ohly, Lessafre, Synergy Flavours, AB Mauri, Titan Biotech, Biospringer, DSM, Alltech, and Kerry Group. Industry players have also been focusing on developing products that have a rather low carbon dioxide emission rate.
Yeast extract is available in the form of powders and pastes. The paste form is used to enhance the growth of young livestock, by improving their immune system and digestion ability. Paste based yeast extract market is slated to grow prominently over the next few years, subject to the rising awareness among livestock farmers regarding animal nutrition.
Brewer’s yeast extract is popularly used for alcoholic beverage fermentation, animal feed additives, and dietary supplements. Alternatively, it is also called medicinal yeast and is used for the treatment of the skin, respiratory tract, and diabetes across the pharma sector, pertaining to which brewer’s yeast extract industry will grow at a remarkable rate over 2016-2024. Speaking of which, yeast extract market from pharmaceutical applications is foreseen to grow at a rate of 4% over 2016-2024, owing to the changing consumer preferences toward organic medication and the surging demand for nutritional supplements from the ever-growing elderly population across emerging economies such as China and India.
Baker’s yeast extract finds applications in bakery products and fermented food products in the F&B sector. Baker’s yeast extract industry is anticipated to grow at a CAGR of more than 4.5%, subject to the huge demand for products such as rolls, doughnuts, breadsticks, cakes, and breadsticks.
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A favorable regulatory framework plays a huge role in the growth of yeast extract market across various geographies. For instance, the enforcement of favorable norms by the FDA and government initiatives toward salt reduction in food to eliminate the occurrence of hypertension and other disorders should fuel U.S. yeast extract industry, which is expected to register a growth rate of 4.5% over the next few years. Similarly, strict regulations by organizations such as EURASYP will lead Europe yeast extract market to grow at a rate of 4% over the next few years.
Yeast extract contains approximately 5% of glutamate, which is naturally present in walnuts, peas, tomatoes, and mushrooms, and is safe for human consumption. MSG, on the other hand encompasses 90% glutamate, which will cause MSG allergies leading to nausea, headaches, and weakness. Growing popularity of yeast extract as opposed to MSG subject to the former’s organic benefits will drive yeast extract market over the next few years.