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Yeast Extract Market Size, Share, Forecast, & Trends Analysis by Type (Autolyzed, Hydrolyzed Yeast), Yeast Source (Baker's, Brewer's, Torula Yeast), Form (Powder, Paste), Application (Food & Beverages, Animal Feed, Pharmaceuticals)— Global Forecast to 2031
Report ID: MRFB - 1041303 Pages: 165 Aug-2024 Formats*: PDF Category: Food and Beverages Delivery: 24 to 72 Hours Download Free Sample ReportThe growth of this market can be attributed to several factors, including the increasing demand for bakery products, the growing vegan and vegetarian population, the rising demand for alcoholic beverages, and the increasing reduction in salt consumption. Moreover, the increasing demand for natural ingredients and plant-based food and meat alternatives is expected to offer growth opportunities for the players operating in this market.
The world population is growing rapidly. For instance, according to the Population Reference Bureau (PRB), the global human population is expected to grow by 75 million annually or by 1.1% per year. With this, the world population is expected to reach 9.9 billion in 2050, an increase of 33% from an estimated 7.4 billion in 2017. As the world’s population grows, the demand for food increases subsequently. With the increased population density comes increased urbanization, which has typically led to greater personal income and demand for bakery products. Also, there is a high consumption of bakery products traditionally as their staple food in Western countries, which is also increasing in Asian countries with rising urbanization and increasing income. In Italy, in 2021, around 1,310,412 tons of production of bakery products were recorded, up by 2.6% from 2020, for a total value of 6,310.8 million euros, an increase of 6.7% points compared to the previous year.
There is an increasing use of yeast extract in bakery products for leavening, as it adds volume to baked goods and enhances their taste, texture, grain, color, and eating quality. Yeast provides a savory, umami-rich flavor, which improves the taste profile of bakery products. Also, it enhances the richness and mouthfeel of baked goods, helps mask off-notes, and reduces the need for excessive salt or fat in bakery formulations. Thus, increasing demand for bakery products and the high properties of yeast extracts further support the growth of the market.
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In recent years, there has been an increasing awareness of reducing salt consumption due to its negative health impacts, like, the growing risks of heart disease, stroke, and early death. It is also linked to other health conditions like obesity, osteoporosis, and kidney disease. Excess sodium consumption is estimated to cause around 1.89 million deaths per year worldwide. To reduce excess sodium consumption, the World Health Organization recommends limiting salt intake to less than 5 grams per day (about 1 teaspoon). Whereas the global average salt intake is estimated at 10.8 grams per day, more than double the WHO recommendation.
The growing need to reduce salt intake has boosted the demand for manufacturing food products with low salt percentages. The yeast extract is gaining traction due to its ability to help in salt reduction as it can help disguise a reduction in a product’s salt level by bringing out saltiness in other ingredients and increasing the overall perception of savory flavors. Moreover, various manufacturers are offering a wide range of yeast extracts, which offer salt reductions of up to 50% in food products. Thus, the increasing need to reduce salt intake by supplementing yeast extract in food products, primarily dairy, is fueling the growth of the market.
The "clean-label" movement reflects a consumer-driven demand for authenticity and transparency in food products. It advocates for natural ingredients free from artificial or synthetic substances and puts emphasis on the use of recognizable ingredients that consumers perceive as healthy.
In 2022, clean label claims significantly influenced the purchasing decisions of approximately two-thirds of consumers worldwide. Moreover, nearly half of the global consumers expressed a willingness to pay a premium for products with clean labels, with a greater propensity from Asian consumers. According to a recent study by Ingredion, a substantial 78% of global consumers are willing to pay extra for products bearing clean labels, denoting natural, organic, or non-artificial ingredients, such as yeast extract. Being a natural ingredient mostly used to improve the overall taste of foods, yeast extract is also efficient in balancing and preserving the taste of other ingredients when food formulators need to reduce components of a recipe such as salt or other undesirable ingredients. Thus, the increasing importance and the growing need for clean-label products are further driving the market growth.
Consumers are increasingly focusing on living longer and healthier. Their preferences have shifted towards foods that are natural, free from additives or preservatives, and organic. As consumers ensure to eat healthy and maintain their well-being to live healthy amongst the increasing reports of the average life-span, eating healthier foods is a way of preventing or avoiding future healthcare costs. Due to the increasing demand for natural and healthy foods, yeast extract is gaining traction in the market. It is a rich source of protein, vitamins (especially B vitamins), minerals, and antioxidants. It helps stimulate glucose metabolism, provide energy, support the immune system, maintain healthy skin, nails, hair, and brain function, and regulate red blood cells. It enhances flavor and taste, providing a savory, umami-rich profile in food. Additionally, it increases the flavor impact of products which is useful for salt and fat reduction. These nutritional benefits make yeast extract an important part of a balanced and healthy diet.
People have become more concerned about ecological and environmental issues because of the rapid increase in population, varied food consumption habits, decrease in acres of arable land, and use of chemical and toxic substances. The changing preference has increased demand for natural products which has impacted industries including food & beverages, personal care, pharmaceuticals, etc. Consumers are increasingly aware of the ingredients in their products, opting for natural and organic choices that avoid harmful chemicals, artificial preservatives, and synthetic additives.
Moreover, yeast extract is derived from fresh, edible yeast (Saccharomyces cerevisiae), which is a natural, non-genetically modified food additive. It is produced through extraction processes without adding any synthetic or harmful substances. It is labeled on food products as "yeast extract" or sometimes included under "natural flavoring." Being a natural food additive, it has wide applications in the food, beverage, pharmaceutical, cosmetic, and biotechnology industries, leveraging its unique flavor, nutritional, and functional properties. Thus, increasing demand for natural ingredients in various industries is further creating opportunities for manufacturers operating in this market.
Based on type, the yeast extract market is segmented into autolyzed yeast extract and hydrolyzed yeast extract. In 2024, the autolyzed yeast extract segment is expected to account for the larger share of over 62.0% of the yeast extract market. The large market share of this segment can be attributed to autolyzed yeast being produced through the autolysis process, where the yeast cells break down using their own endogenous enzymes, as it is simpler and less controlled compared to the hydrolysis process. In addition, it is mostly used in the food industry to enhance savory flavors and provide an umami taste. Also, a carefully controlled autolysis process produces a wider variety of flavors with better product quality and efficacy, supporting the growth of the market.
Based on yeast source, the yeast extract market is segmented into baker's yeast, brewer's yeast, and torula yeast. In 2024, the baker's yeast segment is expected to account for the largest share of the yeast extract market. The large market share of this segment can be attributed to factors such as its high protein content, nutrient retention, desirable flavor profile, ease of production, consistency, safety, and stability, as well as its widespread availability. Furthermore, baker’s yeast has the ability to retain nutrients during the fermentation process, which increases the nutritional value of the yeast extract.
Moreover, this segment is slated to register the highest growth rate during the forecast period of 2024–2031. This growth is driven by the increasing preference of manufacturers for bakers’ yeast-sourced yeast extract and the growing utilization of bakers’ yeast extract in various industries, especially food & beverages.
Based on form, the yeast extract market is segmented into powder, paste, liquid, and flakes. In 2024, the powder segment is expected to account for the largest share of the yeast extract market. The large market share of this segment can be attributed to its convenience and predominant use in food products like sauces and snacks. Manufacturers often offer these products in powder form because it is easier to handle, transport, and store compared to other forms. Additionally, this segment is projected to witness the highest growth rate during the forecast period of 2024–2031. This growth is driven by the increasing demand due to its easy incorporation into a wide range of food, beverage, and other industrial products, longer shelf life, reduced susceptibility to spoilage or contamination, and greater cost-effectiveness compared to other forms.
Based on application, the yeast extract market is segmented into food & beverages, animal feed, cosmetics and personal care, pharmaceuticals, and other applications. In 2024, the food & beverages segment is expected to account for the largest share of over 36.7% of the yeast extract market. The large market share of this segment can be attributed to factors such as the growing use of processed food products, including snacks, dairy alternatives, bakery products, energy drinks, prepared meals, and confectionery products. Furthermore, the increasing demand for natural ingredients, the growing demand for healthy food products, the rising use of plant-based food or meat alternatives, and the increasing demand for clean-label products are driving the growth of the segment.
However, the animal feed segment is projected to witness the highest growth rate during the forecast period of 2024–2031. This growth is driven by the increasing animal population, growth in companion pets, growing demand for sustainable feed, rising demand for high-quality meat products, advancement in feed production, and increasing awareness of animal health and welfare. In addition, yeast extract is associated with various benefits, including improved digestibility, immune function enhancement, and antimicrobial properties in animal feed, further supporting the growth of the market.
Based on geography, the yeast extract market is majorly segmented into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Europe is expected to account for the largest share of over 29.8% of the global yeast extract market, followed by North America and Asia-Pacific. The European yeast extract market is estimated to be worth $548.1 million in 2024. Europe's significant market share can be attributed to several key factors, including the growing demand for processed food products, rising vegetarian population, growing demand for plant-based food and meat alternatives, increasing consumer inclination towards natural ingredients, growing demand for clean-label products, and increasing adoption of nutritious food products.
However, Asia-Pacific is projected to experience the highest growth rate during the forecast period due to a growing population, increasing urbanization, rising income levels, higher consumer demand for convenience and processed food products, increased demand for bakery products, shifting consumer preferences towards high-quality and nutritious foods, and growing demand for natural ingredients, including flavoring agents.
The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last three to four years. Some of the key players operating in the yeast extract market are Lesaffre (France), Kerry Group plc (Ireland), AngelYeast Co., Ltd. (China), Leiber GmbH (Germany), Lallemand Inc. (Canada), Synergy Flavors, Inc (U.S.), Thai Foods International Co., Ltd. (Thailand), Thai Foods International Co., Ltd. (Thailand), Halcyon Proteins Pty Ltd. (Australia), Alltech Inc (U.S.), Ohly GmbH (Germany), KOHJIN Life Sciences Co., Ltd. (Japan), Sensient Technologies Corporation (U.S.), Oriental Yeast Co., Ltd. (Japan), Kothari Fermentation and Biochem Ltd. (India), Koninklijke DSM N.V. (Netherlands), and Novozymes A/S (Denmark).
Particulars |
Details |
Number of Pages |
165 |
Format |
|
Forecast Period |
2024–2031 |
Base Year |
2023 |
CAGR (Value) |
6.8% |
Market Size (Value) |
USD 2.92 Billion by 2031 |
Segments Covered |
By Type
By Yeast Source
By Form
By Application
|
Countries Covered |
North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, New Zealand, Indonesia, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, Mexico, and Rest of Latin America), and Middle East & Africa |
Key Companies |
Lesaffre (France), Kerry Group plc (Ireland), AngelYeast Co., Ltd. (China), Leiber GmbH (Germany), Lallemand Inc. (Canada), Synergy Flavors, Inc (U.S.), Thai Foods International Co., Ltd. (Thailand), Thai Foods International Co., Ltd. (Thailand), Halcyon Proteins Pty Ltd. (Australia), Alltech Inc (U.S.), Ohly GmbH (Germany), KOHJIN Life Sciences Co., Ltd. (Japan), Sensient Technologies Corporation (U.S.), Oriental Yeast Co., Ltd. (Japan), Kothari Fermentation and Biochem Ltd. (India), Koninklijke DSM N.V. (Netherlands), and Novozymes A/S (Denmark) |
This study focuses on market analysis and opportunity assessment based on the sales of yeast extract across various countries, regions, and market segments. The study also includes a competitive analysis based on key market players’ product portfolios, geographic presence, and growth strategies adopted in the last 3 to 4 years.
The global yeast extract market study provides valuable insights, market sizes, and forecasts in terms of value by type, yeast source, form, application, and geography.
The global yeast extract market is projected to reach $2.92 billion by 2031, at a CAGR of 6.8% during the forecast period.
The autolyzed yeast segment is expected to hold the largest market share in 2024
According to the source, the baker's yeast segment is expected to witness the fastest growth between 2024 and 2031.
The increasing demand for bakery products, growing vegan and vegetarian population, rising demand for alcoholic beverages, and increasing reduction in salt consumption are factors supporting the growth of this market. Moreover, the increasing demand for natural ingredients and plant-based food and meat alternatives create opportunities for players operating in this market.
The key players operating in the yeast extract market are Lesaffre (France), Kerry Group plc (Ireland), AngelYeast Co., Ltd. (China), Leiber GmbH (Germany), Lallemand Inc. (Canada), Synergy Flavors, Inc (U.S.), Thai Foods International Co., Ltd. (Thailand), Thai Foods International Co., Ltd. (Thailand), Halcyon Proteins Pty Ltd. (Australia), Alltech Inc (U.S.), Ohly GmbH (Germany), KOHJIN Life Sciences Co., Ltd. (Japan), Sensient Technologies Corporation (U.S.), Oriental Yeast Co., Ltd. (Japan), Kothari Fermentation and Biochem Ltd. (India), Koninklijke DSM N.V. (Netherlands), and Novozymes A/S (Denmark).
The Asia-Pacific region is projected to witness the highest growth rate during the forecast period of 2024–2031 due to the growing population, increasing urbanization, rising income level, increasing consumer demand for convenience or processed food products, growing demand for bakery products, shifting consumer preference towards high-quality and nutritious foods, and growing demand for natural ingredients, including flavoring agents.
Published Date: Nov-2024
Published Date: Aug-2024
Published Date: Aug-2024
Published Date: Oct-2023
Published Date: Mar-2022
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