The global brewer yeast powder market is poised to attain a significant valuation of US$ 2,392 million in 2023, propelled by the burgeoning interest and insights into brewer yeast powder. This trend is expected to pave the way for fresh market opportunities, charting a projected CAGR of 6.7% from 2023 to 2033. By 2033, the market is anticipated to soar to an estimated total valuation of around US$ 4,554 million.
The surging popularity of veganism has emerged as a pivotal driver propelling the yeast extract market forward. With an increasing number of consumers adopting plant-based diets, there is a growing appetite for vegan-friendly alternatives that can faithfully replicate the savory tastes traditionally associated with animal-derived ingredients.
Yeast extract, renowned for its naturally occurring umami flavor, stands out as an exceptional substitute for meat-based flavors, particularly in the realm of vegan and vegetarian food products. This makes it an invaluable ingredient for food manufacturers looking to cater to the ever-expanding vegan market.
The capacity of yeast extract to enhance the palatability of vegan and vegetarian offerings ensures that consumers do not need to compromise on flavor when making dietary choices that align with their values.
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The versatility of yeast extract allows it to meet the diverse needs and expectations of a significantly growing consumer base. As the global veganism movement continues to gain momentum, yeast extract is well-positioned to play a vital role in shaping the future of plant-based culinary experiences.
Contributions of yeast extract to enhancing taste, texture, and overall product quality are not only driving the yeast extract market’s growth but also revolutionizing the way we think about and enjoy vegan and vegetarian food options.
Key Takeaways from the Market Study
- The market valuation in 2022 was US$ 2,300 million.
- Japan expanded at a value share of 7.7% in 2022.
- India’s market for brewer’s yeast is projected to develop at a CAGR of 13.8% in 2022.
- The United Kingdom is estimated to expand at a CAGR of 4.2% by 2033.
- Based on application, the feed segment is expected to dominate at a market share of 69% by 2033.
- Based on type, the liquor dry yeast is likely to register a market share of 44% by 2033.
- The brewer yeast powder market insights rose at a 2.4% CAGR between 2018 and 2022.
“The rising popularity of alcoholic beverages has increased the demand for brewer’s yeast and is considered one of the key drivers of the global brewer yeast powder market”, comments a Future Market Insights analyst.
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Competitive Scenario
The brewer yeast powder industry consists of a consequential number of market players. Research and development are one of them that is mainly used for the introduction of environment-friendly product lines from the core aspect of these manufacturers. Additionally, other expansion strategies, inclusive of collaborations, mergers and acquisitions, and exploration of regulatory approvals, are also relied upon.
Some of the new developments are-
- Nutreco N.V., a global leader in animal nutrition and aquafeed, announced its investment in West Coast Salmon AS, a U.S.-based land-based salmon venture. The investment is part of West Coast Salmon’s initial round of equity financing, which will be used to establish a Recirculating Aquaculture System (RAS) Atlantic salmon farming facility in Nevada. This investment is a significant vote of confidence in the future of land-based salmon farming. It also demonstrates Nutreco’s commitment to sustainable aquaculture.
- AB Mauri UK & Ireland has announced the appointment of four new professionals, a strategic move to extend the reach of its top-tier technical solutions across industries beyond the bakery sector. This expansion of technical solutions is part of AB Mauri UK & Ireland’s commitment to providing its customers with the best possible products and services. The company further believes that by expanding its reach, it can better serve the needs of its customers and help them grow their businesses.
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Brewer Yeast Powder Market By Category
By Type:
- Alcohol Dry Yeast
- Liquor Dry Yeast
- Wine Dry Yeast
- Rice Wine Dry Yeast
- Beer Dry Yeast
By Application:
- Brewing, Baking
- Feed
- Biological Research
- Medicine
By Region:
- North America
- Latin America
- Europe
- The Middle East and Africa
- East Asia
- South Asia
- Oceania
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