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Yeast Extract and Beta Glucan Market -Global Industry Analysis 2021
In the report, the yeast extract and beta glucan market is segmented into by product types, by application and by geography. Based on product type the market is segmented into yeast extract and yeast beta glucan. On the basis of application, the market is categorized into bakery and processed food; dairy and functional foods products; beverages and pharmaceuticals among others. Other application segment includes animal feed, bio-fuels and cosmetics among others.
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The growth in the yeast extract and beta glucan market is primarily attributed to growing demand for functional foods and processed foods, and bakery products among others. In addition, yeast extracts and yeast beta glucans are used for industrial as well as commercial purposes. Cellulosic biodiesel is a type of bio-fuel produced from Lingocellulose with the help of microbial fermentation. The fermentation process usually uses yeast extracts to carry out the bio-fuel production. Yeast extract is considered a vital element in the production of bio-fuel during the cellulosic ethanol process. Yeast extracts are used as flavoring ingredients in the baking and brewing industry. Moreover, Industrial ethanol, nutritional dietary supplements and probiotics are produced from yeast extracts and yeast beta glucans by using as natural catalysts. Yeast beta glucans are largely used in medicines to manage diabetes and high cholesterol. These are also used in immune stimulation to improve the immune system. Rising cholesterol levels due to high sodium intake leads to increase in demand for yeast extracts and beta glucan.
The yeast extracts segment generated higher revenue due to growing usage of yeast extracts in processed foods as flavoring and texturing agents and use of yeast extract in the production of bio-fuels. Yeast beta glucan is primarily used to produce beta capsules. These are used to lower cholesterol and prevent fungal infection after surgery. The yeast extract and beta glucan market has seen diversified trends across different regions including North America, Europe, Asia Pacific and Rest of the World (RoW). Geographically, Europe held the largest market share in 2014 and is expected to grow significantly due to growing demand from leading markets such as the France and UK. Additionally, Asia Pacific is projected to be the fastest growing market for yeast extract and beta glucan during the forecast period, followed by North America. However, in spite of all these driving factors behind the growth of the yeast extract and beta glucan market, shortage of molasses restrained the growth of this market.
Yeast extract and beta glucan market is dominated by key players such as Associated British Foods Plc, Lesaffre and DSM, Angel Yeast Co. Ltd., ABF Ingredients, AHD International, LLC, Alltech Inc., Biotec Pharmacon ASA, Bio Springer and Chr. Hansen A/S among others.
Global yeast extract and beta glucan market is valued at USD 677.6 million in 2015 and is expected to reach USD 1,054.5 million by 2021, growing at a CAGR of 7.6% from 2015 to 2021. The major reason for the success of the yeast extract and beta glucan market is the growing demand for processed food, bakery products and dietary supplements. Furthermore, increasing demand for processed food due to growth in urbanization has boosted demand for ready-to-eat foods different developed countries such as France, UK, the U.S., India, China and Brazil among others. Additionally, rising use of yeast extract for the production of bio-fuel coupled with increasing usage of cellulosic bio-fuels is driving demand for yeast extracts globally.
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