Yeast Extract Market worth US$ 2,121.62 million by 2027 - Exclusive Research by The Insight Partners

The Insight Partners has added Latest Report on "Yeast Extract Market To 2027". Research Report mainly includes Size, Share, growth Factors, sales, Demand, Revenue, Trade, Forecast and Global companies Analysis. To offer more clarity regarding the industry, the report takes a closer look at the current status of various factors including but not limited to supply chain management, niche markets, distribution channel, trade, supply, and demand and production capability across different countries.

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.

Yeast extract is a type of food flavoring agent that is used to make beer and bread. The yeast extract is added to foods such as cheese and soy sauce to give them a savory flavor. The yeast extracts comprise cell contents of the yeast without the cell walls. The extract of yeast is also found in canned soups, frozen dinners, salty-snacks, and stews. The yeast extract does not contain any genetically modified organisms (GMO)-based ingredients, chemical substances, and synthetic additives or animal-derived ingredients. The yeast extract is a vital and rich source of amino acids, peptides, proteins, nucleotides, minerals, vitamins, and micro-nutrients.

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Global Yeast Extract Market, by Technology

• Autolyzed
• Hydrolyzed

Global Yeast Extract Market, by Form

• Powder
• Paste
• Liquid

Global Yeast Extract Market, by Application

• Food & Beverages
• Animal Feed
• Pharmaceuticals
• Others

There has been an increasing demand for natural food additives in the food & beverages industry in the recent years owing to the change in food preferences and adoption of healthy lifestyle among the younger population across the world. People suffering from health conditions are recommended to consume food items made from natural sources. As a result of environmental awareness, as well as the rise in trend of healthy food consumption led by young population, the consumers are demanding transparency regarding the source of raw materials and ingredients used for making a particular product while purchasing the same. Yeast extract is a key performant in processed food products, such as canned and frozen food variants, which makes it a product of interest for various manufacturers. For instance, in December 2020, Biospringer introduced a new protein in a yeast extract form that is positioned as a highly nutritious, gluten-free, and vegan ingredient, especially designed as a cheese and meat substitute for vegan burgers, nuggets, and sausages.

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The COVID-19 pandemic brought unprecedented challenges for many sectors. Lockdowns, border restrictions, travel bans, manufacturing discontinuation, and other safety measures taken under the guidelines by the WHO and national health authorities hindered the progress of the manufacturing companies sector. Moreover, supply chains were completely disrupted due to nationwide lockdown and border restrictions.

The COVID-19 pandemic had a short-term impact on the tobacco industry. In countries such as South Africa and India, Yeast Extract were banned by the governments during the lockdown as tobacco is a non-essential commodity. There is mounting evidence that smoking is linked to adverse outcomes and increased severity of COVID-19. Compared to non-smokers, smokers have a greater chance of developing the COVID-19 infection. Furthermore, many companies halted their production as employees started testing positive for the virus. For instance, production was halted at Philip Morris USA's manufacturing facility at Richmond after two employees were diagnosed with COVID-19 in early 2020. factors limited the growth of the Yeast Extract market to some extent during the early phases of the pandemic.

Well-established players in the global 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.

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