SELBYVILLE, Delaware, Dec. 29, 2019 /PRNewswire/ -- According to latest report "Yeast Extract Market Size 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, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026", by Global Market Insights, Inc., the global yeast extract Industry is expected to exceed USD 2.0 billion by 2026. Rising demand for clean labelled products owing to minimum risks posed by synthetic ingredients should fuel product demand.
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According to market trends, consumers are preferring natural ingredients incorporated products owing to ill effects posed by synthetic constituents including MSG shows elevating market opportunities for product demand. Yeast extracts play a vital role in the manufacture of various products in food & beverages, animal feed and pharmaceutical applications owing to its ability to partially replace salt, taste enhancement ability and creates savory flavor.
Supportive government regulations including Directive 88/388/EEC by European commission has categorized yeast extract as a natural ingredient which will instigate market growth prospects for yeast extract. Yeast extract market will propel owing to rising vegan trends and flexitarian diets among population as it is produced from natural source However, high initial investment in setting up yeast extract production plant and its related infrastructure may limit market growth.
As per yeast extract industry trends, companies are engaged in expanding their manufacturing capabilities to improve productivity and contribute to market growth. For instance, in October 2019, Angel Yeast, a global producer of yeast and its derivative have opened its first yeast extract production facility in Egypt. Through its production capacity establishment, the company will be able to cater surging product demand in Middle East and Africa region along with strengthening market share.
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According to industry analysis, demand for food & beverages products in China has strengthened the need for multiple taste properties in the production of different food stuffs including sauces, soups, bakery items, snacks, noodles and seasonings. Revenue from food & beverages market in China generated a revenue over USD 22 billion in 2019 which shows significant market opportunities. According to yeast extract market analysis, Chinese food & beverages market growth is due to escalating levels of population, exports and production capacity establishment owing to lower manufacturing cost scenario. Presence of production capacities in China by major global players including Lesaffre, AB Mauri and Angel Yeast Co Ltd will generate opportunities for the market.
Some major findings of the yeast extract market report include:
- Shifting consumer preferences towards yeast extract over MSG owing to ill health effects including headache, sweating, chest pain, nausea and numbness will support yeast extract market growth over the forecast period
- Major market players are undertaking several R&D initiatives for superior product utilization in food & beverages, animal feed and pharmaceutical products manufacturing
- Some of the key market players in yeast extract are Angel Yeast, DSM, Lesaffre Group, Kerry Group and Bio springer
- Market size for yeast extract across food & beverages sector were the highest and the segment is further anticipated to grow at the fastest rate than the animal feed and pharmaceutical sectors.
- Europe acquired a prominent share in the global yeast extract market.
Market players are focusing on extensive research & development to promote product innovations which offer superior hygroscopic and free flowing properties. Companies are expanding their market presence by establishing multiple manufacturing units across the globe to sustain the growing competition in these markets.
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SOURCE Global Market Insights, Inc.