Nutritional Yeast Market Set to Surge Significantly During 2024 - 2031 | Lesaffre Group, Cargill, Incorporated

Market Overview:

Nutritional yeast is a food product made from the deactivated yeast Saccharomyces cerevisiae. It is a rich source of protein, vitamins and minerals. Nutritional yeast is commonly used as a cheese substitute or spread on foods for its savory, nutty flavor.

Market Dynamics:

The global nutritional yeast market is witnessing significant growth owing to increasing adoption of vegan and vegetarian lifestyle across the world. According to data published by GlobalData in 2021, the global vegan food market reached over US$ 24 billion in 2020 and is estimated to grow at a CAGR of over 11% during the forecast period. In addition, nutritional yeast contains significant amounts of vitamin B12, which is an important vitamins for vegans and vegetarians. Nutritional yeast is a good substitute for cheese and helps provide savory flavors to plant-based foods. The rising health consciousness among consumers regarding benefits of plant-based foods is also driving the demand for nutritional yeast.

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Driver: Growing demand for plant-based foods driving growth of nutritional yeast market

The demand for plant-based foods and veganism is growing rapidly all over the world. More people are shifting to vegan or plant-based diets due to health, ethical and environmental reasons. Nutritional yeast is popular among vegans and vegetarians as it provides a cheesy, nutty flavor and is a good source of various nutrients like vitamins, minerals, fiber and protein. It is commonly used as a dairy-free alternative in making vegan cheeses, sauces, gravies and dressings. The growth in population of vegans and vegetarians directly increases the demand for nutritional yeast. According to statistics, the number of vegans in the US has risen by 600% between 2014 to 2017. The market for plant-based foods is predicted to reach $74.2 billion in next five years. This growing demand for plant-based diet is a key driver boosting the nutritional yeast market.

Opportunity: Rising demand from food processing sector opening new opportunities

Nutritional yeast is increasingly finding applications in food processing industry due to its cheese-like flavor, high protein and nutrient content. It is being used as a dairy replacer or alternative in manufacturing dairy-free cheese, yogurt, cream cheese, ice creams and other vegan foods. With growing vegan customer base, the demand from food producers for such plant-based dairy alternatives is on rise. Nutritional yeast is emerging as a popular ingredient in meeting this demand. The growing interest of food manufacturers represents a major opportunity for nutritional yeast market players. Strategic collaboration with big food companies can help optimize production and distribution, driving volume growth. Suppliers need to tap into this opportunity arising from food industry by innovative marketing and product offerings.

Trend: Increasing availability of new flavored nutritional yeast powder variants

To appeal to evolving tastes of customers, manufacturers are developing new flavored varieties of nutritional yeast powder. Some of the popular flavors gaining ground include smoked paprika nutritional yeast, garlic nutritional yeast, lemon nutritional yeast powder and Italian seasoning yeast. These variants add uniqueness to regular yeast nutrition profile and enhance palatability. Food startups are especially focused on launching such innovative products. The rising availability of flavored yeast powders has made nutritional yeast more interesting and enjoyable for consumption. It is boosting trial rates and expanding consumer base. This trend of introducing new flavor profiles customized for modern tastes will likely continue driving market evolution going ahead as well. Companies aiming to stay ahead need to study upcoming flavor preferences.

Top Companies Included in This Report:

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

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Market Segmentation:

Based on Product Type:

★ Flakes
★ Powder and Granules
★ Unfortified
★ Fortified
★ Supermarkets
★ Hypermarkets
★ Convenience Stores
★ Online Stores
★ Others

Based on Applications:

★ Animal Feed
★ Food

Key Regions/Countries 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)
Latest Trends in the Navigation Nutritional Yeast Market:

Surging Demand: Witness a rising demand for navigation Nutritional Yeast owing to the escalating usage of GPS-enabled devices and the imperative for precise, up-to-date mapping data.

Innovations in Technology: Witness the emergence of novel technologies aimed at enhancing the precision and dependability of navigation Nutritional Yeast, encompassing real-time traffic updates, 3D mapping, and augmented reality.
Tailored Solutions for Diverse Industries: Companies are tailoring navigation Nutritional Yeast solutions to cater to the distinct requirements of various sectors such as automotive, aviation, and maritime.

Fusion with Emerging Technologies: Observe the integration of navigation Nutritional Yeast with cutting-edge technologies like artificial intelligence and the Internet of Things, facilitating the provision of advanced functionalities.

Rise of Mobile Applications: Experience the proliferation of navigation Nutritional Yeast in the form of mobile applications, offering enhanced convenience and accessibility to users.

Emphasis on Environmental Sustainability: Witness the development of navigation Nutritional Yeast systems that consider environmental factors such as traffic congestion and air quality, fostering the provision of sustainable transportation alternatives.

Frequently Asked Questions (FAQs) for Global Navigation Nutritional Yeast Market Research:
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This release was published on openPR.