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Yeast Extract and Beta Glucan Market Segmentation, Market Players, Trends 2021
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A number of developed markets could witness the supremacy of convenience stores, supermarkets, and online stores until the end of 2021. Nonetheless, direct distribution channel has been envisaged to be among the favorites of companies such as Chr. Hansen A/S that vend yeast extract to laboratories cultivating microbes and biopharmaceutical sectors.
TMR has projected the global yeast extract and beta glucan market to bag a revenue of US$1.05 bn by 2021 from a US$0.72 bn in 2016 at a CAGR of 7.6% between 2015 and 2021. Throughout the forecast horizon, yeast extract could attract a handsome demand while expanding at a quicker CAGR of 7.8% while tapping into the lucrative food and beverages sector. Although Europe could be a larger regional market, it has been expected to lose share to the more promising North America and Asia Pacific regions.
Growth of Processed Food Supported by Vast Urbanization Swells Demand
The authors of the report have foreseen the world yeast extract and beta glucan market to testify a growing demand on the back of the rise of processed food. This could be due to the augmenting level of urbanization in key regional markets. The growth of the market has been envisioned to be furthered by the propelling attractiveness of probiotic functional food among consumers and widespread engagement of cellulosic bio-fuels.
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A wide and varying scope of applications including cosmetics, bio-fuels, and animal feed, pharmaceuticals, beverages, dairy and functional food products, and bakery and processed food could be vital for vendors to take advantage of. Amongst these, cosmetics, bio-fuels, and animal feed have been foretold to testify a surging growth in the coming years. Nevertheless, the world yeast extract and beta glucan market could see the enduring dominance of bakery and processed food until the concluding forecast year.
Yeast extract could find a widespread application in the food and beverages sector as an ingredient. The usage of yeast extract has been analyzed to increase at a telling rate in various products such as sauces, soups, snacks, ready-to-eat repasts, baked and frozen products, and functional foods and drinks.
Dearth of Mandatory Raw Material Cuts Back Growth
The scarcity of molasses, which is studied to be an imperative raw material for yeast extract, has been forecasted to hamper the growth of the worldwide yeast extract and beta glucan market. Having that mentioned, the analysts have prophesied sufficient growth opportunities to be fleshed out in the market. Several new solutions in the processed food sector could be birthed with the employment of yeast extract and yeast beta glucan. Untapped verticals such as dietary supplements and medicines could also offer ample of prospects in future, considering the wide-ranging applications of yeast extract and its derivatives.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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