Nutritional Yeast Market Valuation 2024: Size, Share, Outlook, Trends & Forecast Till 2031 | Lesaffre Group, Cargill, Incorporated

The Nutritional Yeast Market is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Nutritional yeast is a supplement rich in B vitamins and protein. It is commonly used as a cooking ingredient to enhance the flavor and nutritional value of vegan dishes.

Market Dynamics:

The nutritional yeast market is expected to witness significant growth over the forecast period owing to the increasing demand for plant-based foods. Rising health consciousness and awareness about the benefits of plant-based diets have boosted the popularity of nutritional yeast as a vegan substitute for cheese and dairy. Furthermore, nutritional yeast is gluten-free and high in fiber, making it suitable for people with celiac disease or following a gluten-free diet. It is also a good source of complete protein, containing all essential amino acids. The versatility of nutritional yeast as an ingredient has encouraged its use in various vegan substitutes for meat and dairy products.

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Top Key Players are Covered in this Report:

★ Lesaffre Group
★ Cargill
★ Incorporated
★ Lallemand Inc.
★ Angel Yeast Co. Ltd.
★ Archer Daniels Midland Company
★ ABF Ingredients Ltd.
★ AB Mauri
★ NOW Foods

Market Segmentation:

By Product Type:

★ Unfortified
★ Fortified

By Form:

★ Flakes
★ Powder and Granule

By Applications:

★ Animal Feed
★ Food

Key Region/Countries are Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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Nutritional Yeast Market Driver: Increasing Popularity of Vegan and Vegetarian Diets Is Boosting the Demand for Nutritional Yeast

The growing health and environmental consciousness among consumers has increased the popularity of vegan and vegetarian diets globally. According to data, the number of people adopting veganism increased by 600% between 2014 to 2019. Nutritional yeast provides protein and various B-complex vitamins that are challenging to obtain from a purely plant-based diet. It is often used by vegans and vegetarians to mimic the taste and texture of cheese. The flavors nutritional yeast adds to dishes make vegetarian and vegan cooking easier and more versatile. The perceived health benefits of nutritional yeast such as improving digestive health and aiding weight management has further catalyzed its demand among people following alternative diets.

Nutritional Yeast Market Driver: Rising Application of Nutritional Yeast as a Gluten-Free Alternative is Fueling Sales

The prevalence of celiac disease and gluten sensitivity has risen significantly in recent years. As per statistics, around 1% of the global population suffers from celiac disease. Nutritional yeast is an excellent gluten-free substitute to impart flavor and texture to foods. It stands out as an ingredient that can be easily substituted in place of gluten in baked goods, soups, breadings, and dressings. The flavor imparted by nutritional yeast closely resembles the one provided by Parmesan cheese and hence it finds wide usage as a dairy-free and vegan alternative. The convenience of using nutritional yeast to enjoy meals while adhering to a gluten-restricted diet is stimulating greater adoption. Furthermore, awareness about its health benefits and nutritional content is supporting its demand among both gluten-sensitive and general consumers globally.

Nutritional Yeast Market Restrain: High Cost of Nutritional Yeast Compared to Other Protein Sources May Limit Adoption

While nutritional yeast serves as a nutrient-dense food, its relatively high cost remains a major restraint inhibiting widespread adoption. On average, nutritional yeast costs at least twice or more than meat, dairy, and plant-based substitutes per unit of protein. This is attributed mainly to specialized processing used during yeast production and harvesting. Since nutritional yeast contains more protein per weight than other grains, its protein quality is valued. However, bulk purchasers may prefer lower-cost options during times of economic uncertainties. The premium pricing model also poses affordability challenges for cost-conscious consumers in developing regions. Manufacturers need to devise innovative low-cost production techniques and marketing strategies to make nutritional yeast competitive against other protein-rich diet staples and attract price-sensitive buyers.

Nutritional Yeast Market Opportunity: Scope for Functional Nutritional Yeast Fortified Products

There exists vast untapped potential to develop advanced fortified nutritional yeast products tailored for specific health needs. Demand is rising for easy-to-consume, nutrient-dense functional foods and beverages. Nutritional yeast fortified with additional vitamins, minerals, antioxidants, and plant compounds could address this demand. Products catering to requirements of people managing conditions such as diabetes, heart ailments, weight management, PMS, and digestive issues can disrupt the market. For example, low-sodium, high-fiber nutritional yeast can benefit hypertensive consumers. Calcium-fortified varieties support bone health. Probiotic nutritional yeast could strengthen gut and overall well-being. Niche offerings with proven health advantages have scope to charge premium and effectively leverage nutritional yeast's functional appeal. Crafting specialized formulations combining nutritional yeast with superfoods is an opportunity to attract health-savvy audiences.

Nutritional Yeast Market Trends: Innovative Product Launches and Marketing Strategies to Popularize Usage Occasions

While nutritional yeast is primarily used as a cooking ingredient, manufacturers ramping up efforts to promote its multi-purpose attributes. Novel product formats aim at increasing usage frequency. For instance, nutritional yeast based seasoning blends cater to the popularity of no-mess cooking. Ready-to-mix popcorn seasonings leverage the use case as an healthy movie theatre alternative. Nutritional yeast based cheese powder sprinkles enable convenient snacks. Flavored nutritional yeast powders in cheesy, creamy and chipotle varieties appeal to both health-conscious and gourmet audiences. Marketers promote nutritional yeast use as a rich accent, not just a vegetarian staple.

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The report answers a number of crucial questions, including:

➥ Which companies dominate the global Nutritional Yeast market?
➥ What current trends will influence the market over the next few years?
➥ What are the market's opportunities, obstacles, and driving forces?
➥ What predictions for the future can help with strategic decision-making?
➥ What advantages does market research offer businesses?
➥ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
➥ What is the anticipated growth rate for the Nutritional Yeast market economy globally?

Some of the Major Points of TOC cover:

Chapter 1: Techniques & Scope

1.1 Definition and forecast parameters
1.2 Methodology and forecast parameters
1.3 Information Sources

Chapter 2: Latest Trends Summary

2.1 Regional trends
2.2 Product trends
2.3 End-use trends
2.4 Business trends

Chapter 3: Industry Insights

3.1 Industry fragmentation
3.2 Industry landscape
3.3 Vendor matrix
3.4 Technological and Innovative Landscape

Chapter 4: Nutritional Yeast Market, By Region

Chapter 5: Company Profiles

5.1 Company Overview
5.2 Financial elements
5.3 Product Landscape
5.4 SWOT Analysis
5.5 Systematic Outlook

Chapter 6: Assumptions and Acronyms

Chapter 7: Research Methodology

Chapter 8: Contact (Continue . . .)

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This release was published on openPR.