[Research Report] The yeast extract market was valued at US$ 1,450.57 million in 2019 and is projected to reach US$ 2,121.62 million by 2027; it is expected to grow at a CAGR of 4.8% from 2020 to 2027.
MARKET INSIGHTS & ANALYST VIEW:
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.
GROWTH DRIVERS AND CHALLENGES
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.
The availability of substitutes is restraining the market growth of yeast extract. While yeast extract offers a natural and versatile flavor-enhancing solution, there are alternative ingredients and additives, such as monosodium glutamate (MSG), hydrolyzed vegetable protein (HVP), and artificial flavor enhancers, that can provide similar taste profiles. Some of these substitutes may be more cost-effective or readily available, leading to their adoption by certain food manufacturers seeking cheaper options. Additionally, consumers' lack of awareness or misconceptions about yeast extract may cause them to opt for other flavor enhancers, hindering yeast extract's broader market penetration. As competition from substitutes persists, yeast extract manufacturers must focus on highlighting its unique nutritional benefits and clean label advantages to overcome these challenges and sustain market growth.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Yeast Extract Market: Strategic Insights
Market Size Value in US$ 1,450.57 Million in 2019 Market Size Value by US$ 2,121.62 Million by 2027 Growth rate CAGR of 4.8% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
Shejal
Have a question?
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Yeast Extract Market: Strategic Insights
| Market Size Value in | US$ 1,450.57 Million in 2019 |
| Market Size Value by | US$ 2,121.62 Million by 2027 |
| Growth rate | CAGR of 4.8% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
Shejal
Have a question?
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
REPORT SEGMENTATION AND SCOPE
The "Global Yeast extract Market Analysis to 2027" is a specialized and in-depth study with a major focus on the global yeast extract market trends and growth opportunities. The report aims to provide an overview of the global yeast extract market with detailed market segmentation by technology, form, application, and geography. The global yeast extract market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of yeast extract worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the yeast extract market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the yeast extract market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative yeast extract market opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global yeast extract market, which helps understand the entire supply chain and various factors affecting the market growth.
SEGMENTAL ANALYSIS
The global yeast extract market is segmented based on technology, form, and application. Based on technology, the yeast extract market is segmented as autolyzed and hydrolyzed. Based on form, the yeast extract market is classified as, powder, paste, and liquid. Based on application, the yeast extract market is classified as, food & beverages, animal feed, pharmaceuticals, and others.
Based on technology, the autolyzed segment accounted for a significant yeast extract market share in 2020. The autolyzed technology segment is playing a crucial role in driving the growth of the yeast extract market. Autolysis is a process in which yeast cells are broken down enzymatically, releasing their contents, including proteins, amino acids, vitamins, and minerals. This technology allows to produce yeast extract with a well-balanced and natural flavor profile, rich in umami, making it an effective and sought-after flavor enhancer in various food products. The autolyzed yeast extract offers clean label advantages, as it does not require the use of chemical additives or artificial ingredients. Moreover, this technology enables the extraction of valuable nutrients, contributing to the growing demand for natural and nutritious ingredients in the food industry. As consumers increasingly seek clean label and minimally processed products, the use of autolyzed technology in yeast extract production is propelling its yeast extract market growth by meeting these evolving consumer preferences.
REGIONAL ANALYSIS
The report provides a detailed overview of the global yeast extract market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America.
The North America yeast extract market is one of the largest markets having revenue more than US$ 389 million in 2019. In North America, the yeast extract market has been witnessing steady growth, driven by factors such as the rising demand for clean label and natural ingredients in the food industry.
The Europe yeast extract market is expected to reach a revenue of more than US$ 618 million in 2027. 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 yeast extract market in Asia Pacific region is expected to reach CAGR of more than 5% during forecast period. The Asia Pacific region has emerged as a significant player in the yeast extract market due to its growing population, urbanization, and changing dietary preferences. Countries like China, Japan, South Korea, and India are witnessing an increasing demand for processed and convenience foods, where yeast extract finds extensive applications.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Partnership, acquisitions, and new product launches were found to be the major strategies adopted by the players operating in the global yeast extract market.
- In November 2022, At the Food Ingredients Europe 2022 trade event in Paris, France, yeast technology player Angel Yeast revealed its plans to continue marketing its cutting-edge yeast-based solutions in the European market and develop new solutions. These solutions included yeast extract flavor items and yeast proteins for plant-based milk.
- In July 2021, Biospringer under the parent company Lesaffre’s has decided to expand its production facility in Cedar Rapids by 50% at its yeast extract. With this expansion, the company will be able to produce a large volume of products also it includes new process equipment.
- In March 2023, Angel Yeast had displayed its newest yeast innovations at Food Ingredients China 2023 event. Angel's latest offerings aim to unlock the potential of yeast and biotech in food production and empower food producers in capturing the growing market.
IMPACT OF COVID
The COVID-19 pandemic has had both positive and negative impacts on the yeast extract market. Initially, during the early stages of the pandemic, there was a surge in demand for processed and packaged foods as consumers stockpiled essential items. This led to increased consumption of yeast extract as a flavor enhancer in various packaged food products. Additionally, the rising trend of home cooking and baking during lockdowns further boosted the demand for yeast extract as consumers sought to enhance the flavors of their homemade dishes. However, disruptions in the supply chain, labor shortages, and restrictions on transportation and trade negatively affected the yeast extract market. Manufacturers faced challenges in sourcing raw materials and distributing their products, leading to fluctuations in pricing and availability.
As the pandemic progressed, the foodservice industry, a significant end-user of yeast extract, faced severe disruptions due to lockdowns and social distancing measures. The closure of restaurants, hotels, and catering services led to reduced demand for yeast extract in commercial food applications. On the other hand, the shift towards home cooking and an increased focus on health and nutrition continued to support the demand for yeast extract in retail consumer products. As vaccination efforts and restrictions eased, the foodservice industry gradually recovered, contributing to the overall revival of the yeast extract market.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Some of the key players operating in the yeast extract market include Kerry Group, Angel Yeast Co., Ltd., BioOrigin, DSM, LALLEMAND, INC., LEIBER GMBH, Titan Biotech, Synergy Flavors, Ohly, Ajinomoto Co. Inc., Lesaffre, Specialty BioTech, Zhuhai TXY Biotech Holding Co., Ltd, Yantai Huahai Biochemical Product Co., Ltd., LEVEX, and Zhen-Ao Bio-Tech among others.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Technology , Form , and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Among the four segments of application, food & beverages segment has led the market in 2019. The yeast extracts help to intensify the flavors and taste of food products by bringing umami to the recipe. Apart from the taste improvement, the yeast extracts also contribute to positioning healthy formulations, clean labeling, and supporting veganism and vegetarianism. In terms of beverages, yeast extracts are used to enhance the flavors and address the consumer’s demand for taste and nutrition.
The major players operating in the global yeast extract market are Kerry Group, Angel Yeast Co., Ltd., BioOrigin, DSM, LALLEMAND, INC., LEIBER GMBH, Titan Biotech, Synergy Flavors, Ohly, Ajinomoto Co. Inc., Lesaffre, Specialty BioTech, Zhuhai TXY Biotech Holding Co., Ltd, Yantai Huahai Biochemical Product Co., Ltd., LEVEX, Zhen-Ao Bio-Tech and many others.
In 2019, the yeast extract market was predominant by Europe at the global level. Europe occupies a significant position in the global yeast extract market and is expected to register robust growth rate during the forecast period. The growth factors such as growing demand for alcoholic beverages, nutritional products, and bakery are expected to drive the growth of market during the forecast years.
The List of Companies - Yeast Extract Market
- Kerry Group
- Angel Yeast Co., Ltd.
- BioOrigin
- DSM
- LALLEMAND, INC.
- LEIBER GMBH
- Titan Biotech
- Synergy Flavors
- Ohly
- Ajinomoto Co. Inc.
- Lesaffre
- Specialty BioTech
- Zhuhai TXY Biotech Holding Co., Ltd
- Yantai Huahai Biochemical Product Co., Ltd.
- LEVEX
- Zhen-Ao Bio-Tech
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Yeast Extract Market
Apr 2021
Corn and Wheat-Based Feed Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product Type [Corn-Based (Corn Gluten Meal, Corn Gluten Feed, and Other Corn-Based Feed) and Wheat-Based (Wheat Gluten, Wheat Bran, and Other Wheat-Based Feed)], Livestock (Poultry, Ruminants, Swine, Aquaculture, and Others), and Geography
Apr 2021
Icing and Frosting Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Icing and Frosting), Category (Gluten-Free and Conventional), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others), and Geography
Apr 2021
Fermented Flavor and Fragrance Ingredients Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Fruity, Floral, Woody, Blends, and Others), Application (Food and Beverages, Personal Care Products, Cosmetics, and Others), and Geography
Apr 2021
Aroma Ingredients for Food and Beverages Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type [Synthetic (Terpenes, Aldehydes, Aliphatic, and Others) and Natural (Essential Oils, Herbal Extracts, Oleoresins, and Others)] and Application (Bakery and Confectionery, Dairy and Frozen Desserts, Beverages, Sweet and Savory Snacks, RTE and RTC Meals, and Others)
Apr 2021
High-End Rum Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product Type (White, Dark, and Gold), Category (Super Premium, Ultra-Premium, and Prestige & Prestige Plus), Nature (Plain and Flavored), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
Apr 2021
Edible Oils and Fats Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type [Oil (Soybean Oil, Sunflower Oil, Palm Oil, Canola Oil/Rapeseed Oil, and Others) and Fats (Butter, Margarine, Palm Oil Based Shortening, and Vegetable Oil Based Shortening, and Others)] and Application [Food and Beverages (Bakery and Confectionery, Dairy and Frozen Desserts, RTE and RTC Meals, Snacks, and Others), Animal Nutrition, and Pharmaceuticals and Nutraceuticals]
Apr 2021
Flavor Masking Agents for Food and Beverages Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Sweet, Salt, Fat, Bitter, and Others) and Application (Bakery and Confectionery; Dairy and Frozen Desserts; Beverages; Meat, Poultry, and Seafood; Meat Substitutes; Dairy Alternatives; RTE and RTC Meals; and Others)
Apr 2021
Chicken Powder Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Low-Fat and Conventional) and Application [Food & Beverages (RTE and RTC Meals; Soups, Sauces, and Dressings; Savory Snacks; Noodles and Pastas; and Others), Dietary Supplements, Pet Food, and Animal Feed]