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Yeast extract market: Top trends that will stimulate the industry
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Tuesday, 27 July, 2021, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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According to a recent study from market research firm Graphical Research, the global yeast extract market size is poised to expand at substantial CAGR during the forecast period.
Yeast is one of the most popular ingredients used in a wide variety of food products and medicines as well. It is a member of the fungus kingdom and is a single-cell organism.
This type of fungus is found in plants, flowers, fruits and soil and contains various nutrients like carbohydrates, proteins, water-soluble vitamins, amino acid peptides and good bacteria. It even has essential minerals like zinc, magnesium, potassium, chromium and others which make it an ideal ingredient to increase the nutrition value of a food product.
It enhances the flavour and texture of the food and beverage it is being added to as it is used as a flavouring agent. The ingredient is used as a leaving agent as well in various confectioneries and baked goods. It is used as a fermenting agent in beer, wine and other non-alcoholic drinks.
Yeast extract market is expected to show steady growth in the coming years and below are the key trends enhancing its potential:
North America food & beverage sector will dominate yeast extract demand:
North America yeast extract market share from food and beverage application earned a market valuation of more than $192 million in the year 2019. This figure is projected to increase in the near future, according to reports.
The major reason attributed to this is the wide-ranging applications of yeast. It is a versatile ingredient that finds its application as a nutritious product as well.
It is increasingly being used in a wide variety of packaged foods and snacks to increase their flavour profile. Packaged and pre-cooked foods are showing tremendous growth potential as more and more people are depending upon them because of lack of time and energy to cook food at home.
Role of pharmaceutical sector in US yeast extract market:
Apart from being widely used in food and beverages, yeast extract finds its use in the pharmaceutical industry as well. This is because yeasts such as saccharomyces cerevisiae and non-saccharomyces yeast are used to prepare enzymes and pharmaceutical proteins. These ingredients have vitamins in them that are important for the overall health of a human body, like riboflavin, thiamin and biotin.
These vitamins improve the overall nail, hair and skin health of a patient. These nutrition-rich yeasts are also good for the immunity system and reduce inflammation and bacterial infection. All these factors will foster the regional yeast extract market, according to experts.
Brewer’s yeast demand to increase in North America:
While analysing the market on the basis of source of yeast, it was found that brewer’s yeast segment earned more than $70 million in revenue in 2019 across North America. This type of yeast will see increased demand in the future as well.
This is because it is mainly used in fermentation of beer, wine and other non-alcoholic drinks to increase their alcohol content and has different nutrients in it like vitamins such as Vitamin B and minerals like chromium and selenium.
Changing lifestyle will accelerate ingredient demand in Asia Pacific:
The population of countries in Asia Pacific like China, India, Japan and others is seeing rapid change in lifestyle which has led to increased dependence on packaged foods. This has resulted in increase in chronic disorders among the younger generation which is now looking for healthier alternatives to achieve a healthier lifestyle. Yeast extract is a healthy ingredient that is high in nutrition which can help in the overall development of the human body. This will increase demand for this ingredient in Asia Pacific market.
China is the largest consumer of yeast extract:
China is projected to dominate yeast extract market in Asia Pacific as its consumers are increasingly using this substance in their day-to-day lives. The Chinese population is seeing a shift in its dietary preferences as there is an increased demand for packaged and frozen foods. Yeast enhances the flavours of these ready-to-cook foods which drives the demand even more. In fact, China is the largest consumer of yeast extract with a total share of 35%.
Rising importance of natural ingredients in Europe:
EURASYP is an organisation in Europe that aims to bring awareness among consumers and retailers about the importance and benefits of having yeast-rich products. It has introduced several initiatives in this regard which talk about the composition, uses, production and main benefits of these products. The population of Europe is increasingly becoming aware about the importance of using natural ingredients in their foods to live a healthier life.
All these factors will contribute towards the growth of yeast extract market in Europe.
UK will play important role in regional yeast extract demand:
UK will play an important role in increasing the demand for yeast extract products in Europe as they are increasingly being used in animal feed additives. Yeast helps in enhancing the flavour of meat, fish and chicken by giving it a meaty flavour, thereby increasing their palatability. Several manufacturers are also using animal additives rich in yeast to increase the nutritional value of their feeds and to enhance their flavour as well.
Some of the main companies across the world involved in yeast extract market are Ohly, DSM, Lesaffre, Kerry Group and Biospringer.
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