Pune India, May 19, 2022 (GLOBE NEWSWIRE) — The global yeast extract market is expected to rise during the forecast period due to the increasing demand for bakery products and the high utilization of yeast and the food & beverage industry. Fortune Business Insights™ shares this information in a report titled, “Yeast Extract Market, 2022-2029”. As per the report, the yeast extract market size was USD 1.75 billion in 2021. The market size is expected to rise from USD 1.89 billion in 2022 to USD 3.39 billion by 2029 at a CAGR of 8.7% during the forecast period.
Yeast extract is commonly used in food and beverage products such as savory snacks, ready-to-eat meals, soups, and sauces. The yeast extract is produced from fresh yeast utilized in beer, wine, and bread production. The rising demand for bakery products and increasing consumption of alcoholic beverages are expected to drive the market during the projected period.
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List of Key Players Profiled in Market Report:
- Lesaffre (France)
- AngelYeast Co., Ltd (China)
- Halcyon Proteins, (Australia)
- Biospringer. (France)
- Thai Foods International (Thailand)
- Alltech (U.S.)
- Synergy Flavors (U.S.)
- Lallemand, Inc. (Canada)
- Ohly (Germany)
- Leiber GmBH (Germany)
Report Scope & Segmentation:
| Report Attribute | Details |
| Market size value in 2022 | USD 1.89 billion |
| Revenue forecast in 2029 | USD 3.39 billion |
| Growth Rate | CAGR of almost 8.7 % 2022-2029 |
| Base Year | 2021 |
| Historic Years | 2018 – 2020 |
| Forecast Years | 2022 – 2029 |
| Segments Covered | By Type, By Application and By Geography |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | Lesaffre (France) , AngelYeast Co., Ltd (China) , Halcyon Proteins, (Australia) , Biospringer. (France) , Thai Foods International (Thailand) , Alltech (U.S.) , Synergy Flavors (U.S.) , Lallemand, Inc. (Canada) , Ohly (Germany) , Leiber GmBH (Germany) & Other. |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
Segments:
Autolyzed Technology to Dominate Market Due to Rising Demand
By type, the market is bifurcated into autolyzed and hydrolyzed.
Based on the application, the market is segregated into food & beverage, pharmaceuticals, animal feed, and others.
Geographically, the market is categorized into Europe, Asia Pacific, North America, South America, and the Middle East & Africa.
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Report Coverage:
The yeast extract market report provides complete statistical information about market growth and upcoming opportunities in the industry. Also, the report sheds light on the latest trends adopted by companies operating in the industry. Drivers and restraints affecting the market growth are highlighted further. The impact of COVID-19 pandemic on market expansion and growth is discussed further, along with the business strategies adopted by the companies to overcome the loss caused by the pandemic. Key players and their new product launched are further elaborated in this report.
Drivers & Restraints:
Rising Consumption of Alcoholic Beverages to Propel Market Growth
The market is anticipated to exhibit high growth during the projected period. Increasing yeast extract in food & beverage products is likely to propel market growth. Also, changing the dietary preferences of the growing population contributes to market growth. Furthermore, rising demand for bakery products and alcoholic beverages is anticipated to stimulate global product demand. These factors are expected to ensure global yeast extract market growth during the projected period.
However, the availability of substitutes is likely to hinder market growth.
Regional Insights:
European Market Holds Dominant Share Due Increasing Consumption of Processed Food
Europe dominates the global yeast extract market share during the forecast period. The increasing demand for nutritional yeast extract and the rising consumption of processed food drive regional growth. The European market stood at USD 620.62 million in 2021 and is expected to exhibit higher growth during the forecast period.
Asia Pacific holds the second-highest global market position during the projected period. The increasing demand for convenience and ready-to-eat food is expected to boost the product demand.
Competitive Landscape:
New Product Launch Allow Companies to Enhance Their Product Portfolio
Key market players focus on forming strategic alliances and partnerships with supporting companies to expand their business reach. Also, the companies focus on developing new products by adopting technological advancements and innovative product development ideas. Furthermore, increasing the production rate of the companies will allow them to improve their productivity and profitability. These strategies allow the organizations to develop their business and expand globally.
Notable Industry Development:
- March 2019: Angel Yeast opened its initial yeast extract manufacturing facility in Egypt. By incorporating its production capacity, the company will be able to provide increased product demand in the Middle East and Africa region and strengthen market share.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/yeast-extract-market-106656
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Supply Chain and Regulatory Analysis
- Recent Industry Developments – Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis Related to COVID-19
- Impact of COVID-19 on the Market
- Supply Chain Challenges amidst Pandemic
- Potential Opportunities due to this Global Crisis
- Global Yeast Extract Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- By Application
- Food & Beverages
- Animal Feed
- Pharmaceuticals
- Others
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- North America Yeast Extract Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- By Application
- Food & Beverages
- Animal Feed
- Pharmaceuticals
- Others
TOC Continued…!
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