Fermented products such as baked goods and gluten- and dairy-free options are trending in the contemporary regime of the food and beverages (F&B) industry. Developments in yeast extract boosts advances in the fermentation-oriented product line and assists in fulfilling the demand for fermented products. Additionally, the expanding roster of craft beers is leading to the rise in beverage production, which is increasing the yeast extract market size. The demand for wine yeast is also catapulting. This is because of the increase in demand for autolyzed yeast extract from many beer manufacturers for imparting enhanced flavor to beer during the fermentation process of product manufacturing. The increase in the consumer-probiotics market along with detergents, cleansers, animal feed, personal care, and dietary supplements are augmenting the application of yeast extracts and contributing for an increment in the global yeast extract market size. Furthermore, the nutritional benefits provided by these yeast extracts are gaining traction from the manufacturers that are adding these ingredients in several eatable products to experience different tastes. Therefore, the manufacturers are working on a partnership strategy with competitors who can assist to improve the yeast extract formulations in dairy products, fermented ingredients which include enzymes, amino acids, vitamins, organic acid, beer, and wine & spirits in order to increase their yeast extract market share, globally.
Increased starvation for plant-based meat alternatives is creating a significant number of opportunities to raise the yeast extract market revenue. Yeast extract is a popular and valuable ingredient for food manufacturers, because it is used to optimize the formulations of flavorful food and beverages. In addition to this, the health formulation benefits such as salt, sugar, and fat reduction are positively impacting the application of yeast extract in the F&B industry. Yeast extract is a natural flavoring ingredient which is broadly used in vegan and vegetarian product formulations.
As a result, the yeast extract market size stood at $1.2 billion in 2018 and is estimated to grow at a CAGR of 7.85% over the forecast period 2019-2025, according to the global yeast extract market report.
The report evaluates yeast extract market size based on source, technology, form, type, type of category 2, and fermentation. Moreover, it provides a detailed analysis of prominent players and start-ups with their yeast extract market share, globally.
Growth Drivers of Autolyzed Yeast Technology in Yeast Extract Market:
Yeast extract is a vegan ingredient, which has savory and umami flavor that helps manufacturers in reducing sodium from food products. Citric acid, tartaric acid, and sorbic acid are widely used in the dressing of food products. Autolyzed yeast extract is mostly used as a flavor enhancer in a variety of processed foods such as soups, and meats in the food industry and also in sugar reducing applications. On the other hand, the addition of this yeast extract provides different taste in soups, gravies, dressings, bread, salad dressings, and snacks. This extract act as a rich source of vitamin B and micronutrients, highly visible as an application in feed supplements preparation. Growing adoption of organic products in the regular diets of people everywhere coupled with the rise in the bread consumption and baked goods are boosting the growth in the bakery industry, thereby expanding the yeast extract market size. The inclination in consumers’ preference towards accepting clean label products with natural food ingredients is acting as the primary growth driver of the autolyzed yeast extract market. Some of the processed food manufacturers are adopting autolyzed yeast extract and using it as a fragrance additive to improve the aroma of their food products. This extract is frequently used as a less expensive substitute for monosodium glutamate (MSG) and available in paste, liquid, and powder forms which are used as firming agents. Furthermore, it enhances the already existed flavors, much like salt, and also assist in Maillard reactions during cooking. It has excellent water and oil binding properties in meat and vegetarian foods. Therefore, the yeast extract production using autolyzed technology is highly adopted by players and this technology is set to grow at the fastest CAGR of 6.9% throughout the forecast period.
Europe Yeast Extract Marketplace:
According to the International Trade Centre (ITC), the Poland, Spain, Belgium, Germany, Switzerland, Italy, France, and United Kingdom are the major European countries which have experienced annual growth in the active yeasts import value during 2017-2018. These countries collectively represent a share of 21.2% in the world active yeasts imports, as of 2018. The rise in the imports of yeasts is resonating with Europe yeast extract market growth. Europe has established a dominant regional share of 33% in the global yeast extract market. European Snacks Association states that yeast extracts are important ingredients in snack flavor construction. Thus, the growing demand for bakery foods, snacks, ready-to-eat, and convenience food due to the changing dietary preferences are driving the growth of the yeast extract market in this region.
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Major Players in the Yeast Extract Market – Competitive Landscape:
Lesaffre Group, AngelYeast Co. Ltd., Koninklijke DSM N.V., Kerry Group plc, Lallemand Inc., Leiber GmbH, Synergy Flavors, Inc., Halcyon Proteins PTY Ltd., Specialty Biotech Co. Ltd., and Biorigin are the major players, which are involved in the global yeast extract market. These players are in order implementing business strategies to mark their brand name as one among the yeast extract top 10 companies, by increasing their market share for the same.
Developments in the Yeast Extract Marketplace:
Savory Ingredients Market
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