The yeast extracts market size is projected to reach US$ 2.59 billion by 2031 from US$ 1.75 billion in 2023. The market is expected to register a CAGR of 5.0% in 2023–2031. Rising demand for yeast extracts in plant-based foods is likely to remain key yeast extracts market trends.
The increasing adoption of veganism is playing a significant role in driving the growth of the yeast extract market. As more consumers embrace plant-based diets, there is a growing demand for vegan-friendly alternatives that can replicate the savoury flavours traditionally associated with animal-derived ingredients. Yeast extract, with its naturally occurring umami taste, serves as an excellent substitute for meat-based flavours in vegan and vegetarian food products. Its ability to enhance the overall taste and palatability of plant-based dishes makes it a valuable ingredient for food manufacturers catering to the expanding vegan market. Additionally, yeast extract's clean label and natural profile align with the preferences of health-conscious consumers, further bolstering its appeal and market penetration in the growing plant-based food industry. As veganism continues to gain momentum globally, yeast extract's versatility as a flavor enhancer positions it favourably to meet the needs and expectations of this expanding consumer base, contributing to its yeast extract market growth.
Yeast extract is a food ingredient derived from yeast cells through a process of autolysis, where the yeast cells are broken down, releasing their contents. It is a natural source of various nutrients, including amino acids, vitamins, minerals, and nucleotides, making it a valuable ingredient in the food industry. Yeast extract is widely used as a flavor enhancer and a natural alternative to monosodium glutamate (MSG). The yeast extract market has experienced significant growth in recent years due to increasing consumer demand for clean label and natural ingredients in food products. Its versatile applications in the food and beverage, pharmaceutical, and animal feed industries have contributed to its popularity. As consumers become more health-conscious, yeast paste nutrient-rich profile has further boosted its appeal. Additionally, its widespread use as a flavor enhancer and vegan-friendly option has driven adoption among various consumer segments. Despite challenges related to allergenicity concerns and price volatility, the yeast extract market is expected to continue growing as manufacturers such as ABF Ingredients, Ltd. and Angel Yeast Co., Ltd. are focusing on product innovation and meeting diverse market demands.
The increasing demand for natural and clean label ingredients is a significant driving factor in the growth of the yeast extract market. As consumers become more health-conscious and environmentally aware, they are seeking food products with transparent and recognizable ingredients. Yeast extract, derived from yeast cells through a natural autolysis process, fits these criteria perfectly, as it is a natural and unadulterated ingredient. With a rising preference for clean label products free from artificial additives, preservatives, and chemicals, yeast extract's inclusion as a flavor enhancer and nutrient-rich component in various food items has surged. This demand trend not only reflects changing consumer preferences but also influences food manufacturers and processors to incorporate yeast extract into their product formulations, driving its overall market growth.
With rising awareness about health concerns of synthetic food additives, the interest of consumers in clean-labelled food products increased tremendously. Consumers are paying immense attention on the product labels and are preferring brands that showcase transparency and include minimally processed as well as ethically-sourced ingredients. Yeast extracts are natural, clean-label, animal-free, and non-GMO flavoring ingredients witnessing high demand in clean-label foods and beverages. This factor is expected to open new growth opportunities in the market over the next few years.
Key segments that contributed to the derivation of the Yeast Extracts Market analysis are form, technology, application, and geography.
The geographic scope of the Yeast Extracts Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. The Europe yeast extracts market held the largest market share in 2023. Europe has been one of the prominent markets for yeast extract, with countries like the United Kingdom, Germany, France, and Italy being key consumers. The region's strong focus on food quality, safety, and sustainability aligns well with the use of natural and clean label ingredients like yeast extract.
The regional trends and factors influencing the Yeast Extracts Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Yeast Extracts Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1.75 Billion |
| Market Size by 2031 | US$ 2.59 Billion |
| Global CAGR (2023 - 2031) | 5.0% |
| Historical Data | 2021-2022 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Form
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Yeast Extracts Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Yeast Extracts Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Yeast Extracts Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:
The “Yeast Extracts Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: