Published Date: 5-Nov-2020
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According to a new report Global Yeast Extract Market, published by KBV research, The Global Yeast Extract Market size is expected to reach $1.7 billion by 2026, rising at a market growth of 4.2% CAGR during the forecast period.
The autolyzed technology segment has the largest share in the year 2019. The segment will hold the dominant position in the coming years due to the distinguished taste of autolyzed yeast extracts in numerous food applications, like soups, bakery products, and dressings.
The powder form dominated the market due to the maximum market share in the year 2019 and is likely to show significant gains in the future due to its wide application in numerous industries, such as meat, dairy, bakery & confectionery, medicines, and dietary supplements. The powder form of the yeast is a flavoring agent or natural flavor enhancer, which is widely used as an auxiliary to MSG. It is also used for bacterial culture media as nutrients.
The food & beverage segment led the market and has a market share in the year 2019. The product demand for the food & beverage sector is rising significantly due to the increasing cases of allergies produced due to MSG. Animal feed had become the second-largest application segment in the year 2019. It is expected to show the fastest CAGR from the year 2020 to 2026 due to the rising demand for the product in this application segment because of numerous nutritional and health benefits, like improved animal efficiency and productivity, and digestibility of feed coupled with reduced risks of acidosis.
Europe was among the top regions in the Yeast Extract market in the year 2019. The rising demand for yeast extract used as nutrition and amplified consumption of processed food are some of the major factors boosting the market growth. North America has led the global yeast extracts market, and it is mainly driven by vigorous demands for clean label additives and ingredients, and also as a flavor enhancers that exhibit clean taste and aroma are accelerating the market growth. Asia Pacific is likely to show the highest CAGR over the foreseeable period. Countries such as China and India show growing product demand due to increased consumer inclination for better-quality food and beverage products.
Structural Insights: https://www.kbvresearch.com/yeast-extract-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Associated British Foods PLC (Wittington Investments Limited), Lallemand, Inc., Carbery Group Ltd., Kerry Group PLC, Lesaffre Group, Specialty Biotech Co., Ltd., Halcyon Proteins Pty. Ltd., Alltech, Leiber GmbH, and Angel Yeast Co., Ltd.
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