PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1235899
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1235899
According to Stratistics MRC, the Global Yeast Extract Market is accounted for $1.63 billion in 2022 and is expected to reach $2.57 billion by 2028 growing at a CAGR of 7.9% during the forecast period. Fermented foods with concentrated yeast cell content are known as yeast extracts. When heated, yeast cells naturally break down, producing yeast extracts. They are commonly used in food as flavour enhancers and to produce umami and savoury flavors. Despite not containing any animal products, yeast extracts have a flavour that is comparable to that of meat bouillon because they both contain many of the same amino acids that give food its flavour. Baker's yeast is the primary source of origin for yeast extracts, which are used in bakery products like bread, pasta, savoury snacks, and others, according to IndustryARC findings.
According to the European Association for Specialty Yeast Products, there is a growing opportunity for the product to offer a clean label edge and savoury flavour due to increased product development in the vegan/plant-based space and meat alternative.
As a bread leavening agent, yeast extract is essential. It is widely used to ferment draught beverages with glucose in the food and beverage industries. As a dietary supplement, it is beneficial and contains nutrients like selenium, chromium, protein, potassium, zinc, magnesium, and iron. Additionally, it is fantastic for making vegan and vegetarian dishes. Alcohol consumption is increasing, and consumers are becoming more interested in eating natural, fresh foods, which is further fueling market expansion.
The establishment of production facilities for yeast extract and other infrastructure comes with high upfront costs, which is preventing the market from expanding. Additionally, the regulatory issues surrounding the use of yeast extracts as ingredients or flavouring agents in food and feed products are limiting the market's ability to expand. The potential advantages of yeast extracts over their GMO counterparts, however, are likely to eliminate this restriction in the near future.
The demand for baked goods and bakery products is rising in the modern world. For many consumers in Europe, North America, and South America, white bread is a staple food. The middle class' adoption of a contemporary lifestyle has boosted demand for high-end bakery goods like cakes, pies, cookies, and pizza. The demand for bread is also rising as a result of other fast-food dishes like burgers and sandwiches. Such factors are fueling the segment's growth.
The food industry's accessibility to a variety of substitutes for yeast extract, such as hydrolyzed animal proteins (HAPs), hydrolyzed vegetable proteins (HVPs), and nucleotides, is predicted to restrain market expansion. Furthermore, for use in foods and beverages, the U.S. Food and Drug Administration (FDA) has granted GRAS status to monosodium glutamate (MSG), hydrolyzed animal protein (HAPs), and hydrolyzed vegetable protein (HVPs), which has an impact on market demand. However, the production of potentially mutagenic intermediate products like dichloro propanol (DCP) and monochloro propanol (MCH) raises safety issues for HPV and HAPs. All of these factors are therefore anticipated to have an effect on the market share for yeast extract during the projected period.
Countries all over the world were greatly impacted by the COVID-19 pandemic. The number of COVID-19 positive cases is growing, endangering the respective nations. The nations are experiencing an economic crisis that is having a disastrous impact on many industries, including consumer goods, food, and beverages. Due to transportation restrictions and lockdowns in various countries, food and beverage sales declined throughout the region. Additionally, during this time, there has been an increase in demand for packaged and ready-to-cook meals that include yeast extract as a key component.
Due to its widespread use in a variety of applications, including bakery & confectionery, meat, dairy, medicines, and dietary supplements, the powder segment is expected to be the largest during the forecast period. An alternative to MSG is a natural flavour enhancer or flavouring agent in powder form. It also serves as a nutrient for media used in bacterial culture. Furthermore, when compared to its paste form, the product is much more convenient to use when it is powdered.
The food and beverage industry dominated the market because of the increasing number of allergies brought on by MSG, product demand in the food and beverage industry is increasing significantly. Due to extensive product usage in the fermentation of sugars in bakery applications, the food and beverage application is anticipated to gain traction over the forecast period.
Europe dominated the global yeast extract market. Growing demand for processed foods containing nutritional yeast extracts is a key factor driving market expansion in the area. Other significant factors supporting the regional market include rising urbanisation, rising demand for bread and baked goods, a rise in consumer preference for natural ingredients, and varied applications of organic extracts in the food and beverage sector.
Because of the rising demand for convenience and ready-to-eat food products brought on by shifting dietary preferences, Asia Pacific is anticipated to experience a significant CAGR during the forecast period. The ingredient is frequently used as a natural flavouring agent, salt reducer, and ingredient in baked goods, meat and fish, savoury mixes, and sauces. Moreover, with the shift in consumer preference towards healthy foods, the Asia Pacific region is estimated to grow at the fastest rate.
Some of the key players in Yeast Extract market include: AB Mauri, Alltech, Angel Yeast, Biorigin, Biospringer, DSM, Halcyon Proteins, Kerry Group, Kohjin Life Sciences, Kothari Fermentation & Biochem Ltd., Lallemand, Inc., Leiber GmBH, Lesaffre Group, Ohly, Oriental Yeast, Sensient Technologies Corp., Specialty Biotech, Synergy Flavors, Thai Foods International Co., Ltd. and Titan Biotech Limited Company.
In July 2021, Biospringer by Lesaffre, announced an expansion on its yeast extract production site in Cedar Rapids, Iowa, United States. Biospringer by Lesaffre's varied range of yeast ingredients is vital for multiple food and beverage industry applications. This investment will aid the growing market trend for natural-origin ingredients derived from fermentation.
In January 2019, Ohly announced that it has decided to divest its Hutchinson Torula Yeast facility and associated Torula whole-cell business with Lallemand, a global producer of bacteria-based products, with immediate effect.
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