Growing demand for fresh labeled products owing to minimize risks imposed by synthetic ingredients is expected to upsurge the demand for yeast extract. Due to negative health effects like sweating, headache, nausea, chest pain, and others of MFG, the preference of consumers are shifting towards yeast extract.
The food & beverages sector holds the maximum share in the yeast extract market and is expected to grow at a fast rate compared to animal feed and pharmaceutical sectors. According to the Global Market Insights, the Yeast Extract Market size exceeded USD 1 billion in 2020 and is estimated to grow at over 5% CAGR between 2021 and 2027. Companies operating in the yeast market are constantly engaging themselves in expanding their capabilities to improve productivity and contribute to business growth.
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Elaborating on some of the trends in the yeast extract market:
Presence for natural food ingredients
Consumers are opting products composing of natural ingredients because of the ill effects posed by synthetic constituents including MSG. Yeast extracts possess multiple abilities like partially replacing salt, enhancing taste ability, and creating savory flavor. Yeast extracts play a vital role in the manufacturing of various products in food & beverages, pharmaceutical, and animal feed applications owing to their multiple qualities.
Europe has acquired a prominent share in the global yeast extract market. Supportive government regulations by the European commission including Directive 88/388/EEC have considered yeast extract as a natural ingredient. The market for yeast extract in Europe could also propel due to rising flexitarian diets and vegan trends among the population as it is produced from a natural source.
Demand across China’s food & beverages sector
The food & beverages market in China generated revenue of over USD 22 billion in 2019 which shows momentous growth opportunities for yeast extract suppliers. As per industry analysis, the demand for food and beverages product in China has reinforced the need for multiple taste enhancers in the production of different foodstuffs including soups, noodles, bakery items, snacks, sauces, and seasonings. The food and beverages market in China is constantly growing due to intensifying level of population, production, and export capacity establishment owing to lesser manufacturing cost set-up.
Implementation of lucrative business strategies
Key market players in the yeast extract industry include DSM, Lesaffre Group, Bio Springer, Angel Yeast, and Kerry Group. The major players are constantly strategizing up and undertaking several R&D initiatives to launch superior products in food & beverages, pharmaceutical and animal feed, and other products manufacturing.
Market players are focusing on research & development to encourage product innovations that offer more hygroscopic and free-flowing properties. Companies are establishing manufacturing units to expand their market presence across the globe to stay ahead of the growing competition in these markets.
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