SAN FRANCISCO, July 13, 2020 /PRNewswire/ -- The global yeast extract market size is projected to reach USD 2.1 billion by 2027 registering a CAGR of 5.9%, according to a new report by Grand View Research, Inc. The increasing demand for natural ingredients in the food & beverage industry will boost the market growth. Furthermore, yeast extracts are a dominant substitute for MSG in the food & beverage industry, thereby is expected to increase market penetration over the projected period.
Key suggestions from the report:
- In terms of revenue, animal feed application is projected to ascend at the fastest CAGR of 6.8% over the forecast period
- This growth is attributed to increased demand for nutritional yeast extract used as supplements in animal feeds owing its relatively high amino acid, energy, protein, and micronutrient content compared with low oilseed meals and feed grains
- yeast extract is extremely versatile for food production. It is used to season sauces, bouillons, soups, savoury snacks and ready meals. It not only complements the savoury taste of Meat and fish dishes, but it is also perfect for preparing vegetarian dishes as it is free from animal ingredients but still provides a meaty taste. Asia Pacific is expected to witness fastest growth at a CAGR of 8.4% from 2014 to 2020
- Asia Pacific is expected to witness the fastest CAGR from 2020 to 2027 owing to rapidly expanding end-use industries, including animal feed, pharmaceuticals, and food & beverages
- Moreover, improved living standards in the developing economies of APAC have resulted in augmented consumption of healthy and nutritional foods, thus boosting the product demand
Read 150 page research report with ToC on "Yeast Extract Market Size, Share & Trends Analysis Report By Application (Animal Feed, Food & Beverages), By Technology (Autolyzed, Hydrolyzed), By Form, By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/yeast-extract-market
Yeast extracts are majorly utilized in food & beverage applications and thus, this application segment is projected to lead the market at a steady CAGR from 2020 to 2027. Growing awareness about nutritional diet and its health benefits along with rising purchase parity have resulted in the growing consumption of healthy and processed food products. The market is highly competitive, in terms of product innovation and investments.
Key companies in the market have been spending more on research & development activities to gain a competitive edge. Moreover, most of the companies are focusing on M&A to strengthen their industry position and expand global reach. For instance, in February 2018, Lesaffre Group announced the acquisition of Alltech's yeast extract facility in Serbia, to establish its operations in Serbia.
Grand View Research has segmented the global yeast extract market based on technology, form, application, and region:
- Yeast Extract Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Yeast Extract Form Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Yeast Extract Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Food & Beverages
- Animal Feed
- Yeast Extract Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- South Africa
- List of Key Players of Yeast Extract Market
- Lesaffre Group
- Kerry Group
- Angel Yeast
- Leiber GmBH
- Lallemand, Inc.
- Synergy Flavors
- Thai Foods International Co., Ltd.
- Halcyon Proteins
- Specialty Biotech
- Kohjin Life Sciences
- Sensient Technologies Corp.
- AB Mauri
- Titan Biotech Limited Company
- Oriental Yeast
- Kothari Fermentation & Biochem Ltd.
Find more research reports on Nutraceuticals & Functional Foods Industry, by Grand View Research:
- Amla Extract Market – The global amla extract market size was valued at USD 35.39 billion in 2018 and is expected to register a CAGR of 4.9% during the forecast period from 2019 to 2025.
- Quillaia Extracts Market – The global quillaia extracts market size was value at USD 736.2 million in 2018 and is expected to register a CAGR of 5.2% from 2019 to 2025.
- Hopped Malt Extract Market – The global hopped malt extract market size was estimated at USD 6.79 billion in 2018 and is expected to expand at a CAGR of 8.1% from 2019 to 2025.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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