Covid-19 Impact on Yeast Extract Market Is Expected At A CAGR Of 5.9% 2027

January 2021 | Report Format: Electronic (PDF)

Yeast Extract Market Growth & Trends

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.

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.

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Yeast Extract Market Report

Yeast Extract Market Report Highlights

• 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