Food & Beverage Industry Accounts for About 40% Share
Due to the increasing awareness about healthy lifestyle and nutritious food, the food and beverage industry is expected to hold about 40% of the market revenue. Nutritional yeast has a nutty and cheesy flavor and is used widely in food and beverages.
For instance, it is used as a meat substitute, salt replacer and non-GMO L-Cysteine replacer in bakery products, as well as in beverages, dairy products, and functional food. Demand for vegan meat, natural food flavor, and replacements for salt is on the rise. This is attributable to increasing health consciousness among consumers.
Developing Nations Offer Lucrative Growth Opportunities
Developed regional markets such as North America and Western Europe collectively contribute around 50% of the global market revenues. However, these regions will witness a slight decline in share held by them against the lucrative opportunities witnessed in developing nations such as China in Asia Pacific.
Nutritional yeast is bought mainly for its nutritional benefits and additional gastrointestinal benefits. One in nine people in the world or nearly 800 million people cannot afford food to meet their basic nutritional requirements. The rate of nutritional deficiencies is relatively higher in developing nations. Therefore, manufacturers of nutritional yeast witnesses higher growth potential in developing countries.
Clean Label Trends Underpin Impressive Growth Opportunities
Clean labeling implies that ingredients used in a product and their origin are disclosed to consumers through product labels. This ensures safety of products. Consumers often demand high level of transparency, particularly regarding what they consume and where it is sourced from.
This is attributable to the rising health consciousness witnessed around the world. Revivable yeast products such as yeast extracts and nutritional yeast are therefore witnessing high demand as they are free from chemicals and additives.
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How Growth will Unfold
Besides the food and beverages industry, nutritional yeast market is witnessing considerably high demand from animal feed, personal care, and other industries. For instance, Saccharomyces boulardii is effective in clinical studies and is the only yeast among probiotics that is bacteria.
Various clinical studies have proven S. boulardii to be beneficial in the treatment of traveler’s diarrhea, ulcerative colitis, and inflammatory bowel diseases. Meanwhile, inactive dried nutritional yeast is used as an effective ingredient in animal feed. Other than this, the market is expected to witness surging demand for fortified yeast and revivable yeast in the coming years.
FREQUENTLY ASKED QUESTIONS ABOUT GLOBAL NUTRITIONAL YEAST MARKET
Which application segment witnesses highest growth opportunities?
The food & beverage segment accounts for the maximum share in the nutritional yeast market. It is used as vegan meat and natural food flavor in food and beverages.
What is the critical trend influencing strategies adopted by manufacturers of nutritional yeast?
Veganism will be the most critical trend influencing production decisions of manufacturers. Manufacturers and retailers of nutritional yeast are marketing their products as vegan and meat substitutes to attract vegan consumers and improve their revenues.
What is the degree of competition in the nutritional yeast market?
Globally nutritional yeast is still at an introductory phase, therefore, more promotions and advertisements are required to spread awareness about its applications and health benefits. The nutritional yeast is widely used in food and beverage and dietary supplements. The vegan food products and plant-based proteins and ingredients markets are witnessing high growth rates due to which the demand for nutritional yeast is growing across the globe.
Which region will lead the global sales of nutritional yeast ?
Western Europe remains the largest shareholder in the nutritional yeast market. However, Asia Pacific is expected to show higher growth.
NUTRITIONAL YEAST MARKET TAXONOMY
The global nutritional yeast market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Inactive Dry Yeast
- Fortified Yeast
- Revivable Yeast
- Food & Beverage
- Bakery & Confectionery
- Soups, Sauces & Seasonings
- Functional Foods
- Dietary Supplements
- Personal Care
- Animal Feed
- Other Applications
- Modern Trade
- Specialty Store
- Convenience Store
- Online Retail
- Other Sales Channel
- North America
- Latin America
- Western Europe
- North & Eastern Europe
- Middle East & Africa