Yeast Extract Market Size to Reach $1,038.3 Million, by 2035 at 7.5% CAGR

Allied Market Research published a report, titled, "Yeast Extract Market by Type (Yeastolate, Yeast Extracts, and Active Dry Yeast), Application (Pharmaceuticals, and Biotechnology), and Form (Liquid, and Dry): Global Opportunity Analysis and Industry Forecast, 2024-2035". According to the report, the "yeast extract market" was valued at $440.9 million in 2023, and is estimated to reach $1,038.3 million by 2035, growing at a CAGR of 7.5% from 2024 to 2035.

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Prime determinants of growth

The growing demand for clean-label food products and natural flavor enhancers is propelling the yeast extract industry. Consumers' growing health consciousness has increased interest in using yeast extract as an alternative to artificial additives because of its rich umami flavor and nutritional advantages, such as its high protein and vitamin content. Veganism and plant-based diets are becoming more and more popular, which encourages their use in a variety of culinary applications. Yeast extract's commercial potential is further increased by its substantial application in the cosmetics and medicinal sectors. However, obstacles including shifting raw material costs and competition from substitute taste enhancers could impede expansion. Profitable prospects for market participants are presented by advancements in extraction methods and growing uses in prepared foods.

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The active dry yeast segment to maintain its leadership status during the forecast period

By type, the active dry yeast segment held the highest market share in 2023, accounting for more than half of the yeast extract market share and is estimated to maintain its leadership status during the forecast period. The yeast extracts market uses active dry yeast owing to its excellent quality, stability, and capacity to improve fermentation processes.

The pharmaceutical segment to maintain its leadership status during the forecast period

By application, the pharmaceutical segment held the highest market share in 2023, accounting for more than four-fifths of the yeast extract market revenue and is estimated to maintain its leadership status during the forecast period. Yeast extract is essential to the pharmaceutical industry's production of therapeutic proteins, vaccines, and biologics.

The dry segment to maintain its leadership status during the forecast period

By form, the dry segment held the highest market share in 2023, accounting for more than three-fifths of the yeast extract market revenue and is estimated to maintain its leadership status during the forecast period. The dry form of yeast extract is frequently utilized in biotechnology and pharmaceutical industries owing to its ease of storage, stability, and convenience.

Europe to maintain its dominance by 2035

Based on region, Europe held the highest market share in terms of revenue in 2023 and is expected to dominate the market during the forecast period. The production of monoclonal antibodies, vaccines, and therapeutic proteins using yeast extract is common in Europe and helps meet the rising demand for biologics.

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Leading Market Players: -

AngelYeast Co., Ltd.
Associated British Foods PLC
CELLSECO LTD.
FUJIFILM Irvine Scientific
Kerry Group
Lallemand Inc.
LESAFFRE GROUP
Merck KGaA
Nu-Tek BioSciences
Thermo Fisher Scientific Inc.
VWR International, LLC

The report provides a detailed analysis of these key players in the yeast extract market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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