Yeast Extract Market Will Grow at CAGR of 5.5% by 2024
Yeast Extract Market Analysis By Technology Autolyzed Yeast , Hydrolyzed Yeast, By Source Baker’s Yeast, Brewer’s yeast, By Form Powder, Paste, By Application Food & Beverages [Soups, Processed foods, Dairy Products, Bakery, Sauces & Savory Flavors], Animal Feed, Pharmaceuticals, Regional Outlook, Competitive Market Share & Forecast, 2016 – 2024
Sellbyville, DE -- (SBWire) -- 06/20/2019 --Yeast Extract Market is set to exceed USD 1.8 billion by 2024; according to a new research report by Global Market Insights, Inc. Strong application potential in food & beverage industry should favour yeast extract market size. Key properties favouring product demand in food & beverages industry include flavour & taste enhancing, high nutrient content and sodium content reduction.
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Yeast extract market size from food & beverage applications may witness strong gains and surpass USD 1 billion at the end of forecast period. It is widely used in dairy products, bakery, soups, processed foods and savory mixes. Increasing convenience food consumption due to changing dietary routines should favor industry growth.
Rise in clean labelled natural ingredients demand along with increasing need for salt reduction in routine diet should drive product demand. It is a potential replacement for chemical food additives such as MSG along with favourable government norms, thereby making it suitable for food & beverage applications.
Autolyzed yeast extract market size should witness gains at over 5%. It is widely used for animal feed and food & beverage applications due to natural meaty flavour and nucleoside content. Shift in animal feed manufacturers preference towards adding flavour enhancers to increase palatability accompanied with growing awareness regarding high nutrition content should promote product demand.
Key raw materials, baker's & brewer's yeast, saccharomyces cerevisiae and molasses, are used in the manufacturing process. Molasses are most widely used as it provides high nutrient content growth media for fermentation. These raw materials are used in various applications and may face supply deficit and impact yeast extract market price trend.
U.S. yeast extract market size should register close to 4.5% growth. Favorable FDA regulations regarding labelling as natural ingredient and government initiate towards salt reduction campaigns for promoting health awareness should drive regional industry growth. China yeast extract market size from animal feed application is anticipated to register over USD 20 million in sales by 2024. It is used as feed additive for providing nutrition, protein, vitamin, mineral, lipids and nucleosides which helps in improving metabolism and immune system.
Powder yeast extracts are widely used in dairy culture cheese and processed foods. They enhance the dairy product taste along with flavor masking and have high amino acid, vitamins and peptides content which are beneficial to as microbial culture media. Germany yeast extract market size from food & beverages application may register above 4% gains. Presence of organizations such as EURASYP, promoting awareness regarding use of yeast and its derivative due to its clean label status may drive industry growth.
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Soups market share for food & beverage application may witness significant growth. Shift in consumer preference towards healthy dietary supplements due to prevailing health concerns may act as a contributing factor towards product demand. Global yeast extract market share is consolidated. Some of industry participants include AB Mauri, Ohly, DSM, Lesaffre, Titan Biotech, Oriental yeast, Alltech, Biospringer and Synergy Flavors
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