DataM Intelligence | Yeast Extracts Market Size Share AnalysisAccording to the research study by DataM Intelligence, the North America yeast extract market show the highest CAGR in the global market during the forecast period 2022-2029.Yeast Extracts Market Overview:
The global yeast extracts market size is valued at USD 1,480.79 million in 2021 and is estimated to reach USD 2,319.04 million by 2029, growing at a CAGR of 5.92% during the forecast period 2021-2029.
Yeast extract is a natural food ingredient primarily in use as a flavoring agent is formed using the yeast cell contents without cell walls. Autolysis and hydrolysis are the two technologies used for the production of yeast extracts. Pure baker’s yeast is the preferred source for extraction owing to its superior functional properties in food applications over brewer’s yeast.
The main food products that are based on yeast extracts are snacks and prepared meals. Other products include sauces and seasonings, fish-based ready meals, soups, noodles, bakery, spreads, dairy products, sweet products, and drinks.
Yeast extract is highly regulated as it is widely used in the food and beverages industry. Most manufacturers are adhering to the regulatory guidelines placed by the U.S. Food and Drug Administration (FDA), and are using yeast extract as a natural ingredient, while putting it on labels, as well. According to the requirements of the European Food Law, yeast extract, used with a primary function of flavoring in foods, can be labeled as “yeast extract” or “natural flavoring” in the list of ingredients. If yeast extract is added to food for nutritional purposes, then “yeast extract” is a generally accepted customary name that can be included in the list of ingredients
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Market Drivers:
The modern world is experiencing an increasing demand for bakery products and baked goods. White bread is a staple for many consumers throughout Europe, North America, and South America. The consumption of white bread is also increasing in the Asia-Pacific region and the Middle East.
White bread is mainly prepared with yeast extract and refined wheat flour dough. It is one of the most common end-users for yeast extracts in the food processing industry.
The world has experienced unprecedented economic growth in the last two decades. The majority of this growth has been concentrated in the emerging world, particularly in the Asia-Pacific. It has led to positive socio-economic outcomes which have in turn, given rise to the large middle class with disposable income.
Market Restraints:
Yeast and yeast extracts are typically prepared from sugar-rich products, mainly molasses. Molasses is a thick black substance that is the refuse left behind after the refining of sugarcane into sugar.
Concentrated molasses is diluted with water and then sterilized. A tiny amount of starter yeast is added to begin the fermentation process. After fermentation, the yeast is then concentrated, dried, and packaged for use. Molasses is derived from a natural source, and hence, are vulnerable to volatility due to production issues. Sugarcane is a water-intensive crop and the production of sugarcane can drop steeply due to natural factors such as low rainfall and drought.
Impact of COVID- 19 on the Global yeast Extracts Industry:
The global yeast extract market experienced a slight increase in growth in 2020, owing to COVID-19's impact. The demand for packaged foods and snacks increased, particularly in the U.S. and Europe regions. This has resulted in increased growth of sales in the global market. However, governments globally imposed strict lockdowns of varying durations starting from March 2020 to curb the spread of the emerging COVID-19 pandemic.
Market Segmentation Analysis
By Technology:
- Autolyzed
- Hydrolyzed
By Form:
- Powder
- Paste
- Flakes
By Application:
- Food & Beverages
- Animal Feed
- Pharmaceuticals
- Others
Regional Share Overview Insights:
North America Yeast Extracts Market
North America yeast extract market show highest CAGR in the global market during the forecast period. Due to shifting dietary preferences and healthy lifestyle acceptance among the younger population across North America, there has been an increase in demand for natural food additives in the food & beverage business in recent years.
South America Yeast Extracts Market
In South America, the COVID-19 pandemic havoc on agriculture and food production. In terms of logistics, producers and distributors have faced difficulties. Food had to be transported across borders with additional restrictions and following existing food standards. During the COVID-19 pandemic, Brazil was one of the most impacted countries in South America.
Europe Yeast Extract Market
In Europe, the rising demand for processed foods, combined with growing awareness of health-conscious products, is stimulating the expansion of the baker's yeast market, which is accelerating the growth of the yeast extract market.
Asia Pacific Yeast Extracts Market
Increased consumption of bakery and confectionery products such as bread, pizza, and burger buns in Asian countries such as India, China, and Japan is expected to boost the Asia Pacific yeast extract industry outlook owing to the rising working population, particularly among women and rising economic standards. Given the changing energy mix of different economies, the potential for bio-ethanol yeast in this region is also attractive.
Middle East and Africa Yeast Extracts Market
To expand in the yeast extract market in this Middle East and Africa region, yeast extract manufacturers can combine with other manufacturers with better techniques and technologies. The yeast extract market's established and new players are commercializing novel yeast extract products for end customers in the food and beverage, cosmetics, bakery industries, and bakeries.
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Key Companies:
Lesaffre Group, Kerry Group, eiber GmBH, Lallemand, Inc., Biospringer, DSM, Synergy Flavors, Thai Foods International Co., Ltd., Halcyon Proteins, Ohly, Angel Yeast Co., Ltd, AB MAURI, Lesaffre, Ziying Biotechnology, and Jiangmen Biotechnology
Why Purchase the Report?
- Visualize the yeast extract market segmentation composition by technology, form, application, and region, highlighting the critical commercial assets and players.
- Identify commercial opportunities in the yeast extract market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of yeast extract market - level 3 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
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