The tremendous usage of yeast extracts across the pharmaceutical and F&B sectors has set the stage for the massive growth of yeast extract industry. Processed yeast products, collectively referred as ‘yeast extracts’, are prominently used as food additives to create assorted flavors and tastes. In a fast-paced world monopolized by packaged foods, this substance finds a substantial number of applications across the food & beverage sector, the rapid development of which will consecutively propel global yeast extract market.
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Selective forms of yeast extract are reported to be veiled products containing MSG, by certain consumer groups. The claims have however been refuted by yeast extract industry giants. Technically, MSG contains more than 90% of glutamate, while yeast extract contains only 5% of glutamate, which is deemed quite safe for consumption. Global awareness regarding the severe health effects of MSG such as nausea and headaches and the resulting preference toward yeast products is anticipated to drive yeast extract market, set to cross USD 1.8 billion by 2014, with a CAGR projection of 5.5% over 2016-2024.
Brewer’s yeast, a type of yeast extract, also called medicinal yeast, finds massive applications across the pharmaceutical sector. It contains chromium, which helps the human body regularize blood sugar levels. Brewer’s yeast also aids digestion, as it is essentially a probiotic, owing to which it is used as a dietary supplement as well. Brewer’s yeast extract industry is anticipated to witness tremendous growth owing to the high product demand across myriad end-use sectors.
Speaking of the food & beverage sector, baker’s yeast, prominent source segment of yeast extract market, is used extensively to produce baked goodies owing to the product’s excellent texture and rising characteristics. Huge consumer demand for baked goods such as pizza, rolls, cakes, breadsticks, and doughnuts should lift baker’s yeast extract industry size, which may observe a CAGR exceeding 4.5% over 2016-2024.
Yeast extract is available in two main forms – powder and paste. Paste yeast extract market will witness a significant growth, owing to its applications in the animal feed sector. Rising awareness regarding animal health among pet and animal farm owners is likely to push paste yeast extract industry over the next few years.
Powder yeast extract is used to manufacture dairy products on a large scale, in addition to finding applications in foods such as dry savories, snacks, sauces, and dips. High demand for processed food, vegan food, and dairy products bearing the ‘clean’ label will drive powder yeast extract market, which is slated to cross USD 1.5 billion by 2024.
Asia Pacific is projected to be a major revenue pocket for global yeast extract industry. High demand for processed foods coupled with the extensive development in the hospitality sector will push China yeast extract market, predicted to cross USD 20 million by 2024, with a CAGR estimation of 6% over 2016-2024. Furthermore, the increasing product usage across the animal feed sector will also drive the regional demand, thereby propelling APAC yeast extract industry.
Europe is one of the major regions witnessing an ever-growing requirement for processed foods and baked items. Strict government regulations promoting the health benefits offered by yeast products will drive the Europe yeast extract market, set to grow at a CAGR of 4% over 2016-2024. Germany yeast extract industry from food & beverage applications, incidentally, will also grow at an annual growth rate of 4% over the next seven years, primarily driven by the demand for high quality organic foods.
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Yeast extract market players are concentrating on technological innovations to enhance the product offering. Companies are also focusing on developing products that contain the least percentage of glutamate to maintain the health safety standard of yeast products. Key participants operating in this consolidated yeast extract industry include Oriental Yeast, Biospringer, Angle Yeast, Ohly, Halcyon Proteins, AB Mauri, BioOrigin, Alltech, Lallemand, Synergy Flavors, Lessafre, DSM, Titan Biotech, and Kerry Group.