Nutritional yeast market witnesses high demand as a result of changing consumer preferences with regards to their choice of food. In the last few years, consumers have become more selective about their food choices showing inclination for healthier, better quality food and ecological food products. To maintain a healthy lifestyle, they are following a proper diet. As a result the demand for gluten-free, organic and salt-free products is rising in comparison to traditional full course meals. Nutritional yeast is gluten-free and salt-free. It is also a rich source of proteins, minerals and vitamins due to which its demand is growing rapidly among health-conscious, vegan and aged population. The nutritional yeast market is projected to rise at a CAGR of ~14 between 2019 and 2029, Future Market Insights foresees stable growth for the market.
Key Takeaways from the Nutritional Yeast Market Study
- Governmental and para-governmental authorities in collaboration with prominent manufacturers in the nutritional yeast market are conducting extensive research and development activities to aid sustainable development. Global research and development spending has reached a record of US$ 1.7 trillion, out of which 80% is accounted by 10 countries. The United States, Germany, Canada, Japan, China, France, India, and the United Kingdom are some of the countries with high research and development spending. For instance, Lallemand research and development has launched an innovative strain of yeast YANG, derived from the association of two different strains of yeast, S. cerevisiae and C. jadinii, in specific fractions. This innovative strain is used as an animal feed ingredient to enhance immune response.
- Inactive dried nutritional yeast can be used as an effective ingredient in animal feed to boost nutritional content. Ready availability of inactive dried nutritional yeast and the growing awareness regarding the benefits of inactive dried nutritional yeast as an animal feed ingredient support growth of the global nutritional yeast market.
- Consumers perceive organic products as safer and healthier when compared to traditionally and conventionally manufactured products. This encourages manufacturers to expand their product portfolio to include certified organic offerings, which is anticipated to help them strengthen their market positions. Production of organic nutritional yeast requires use of organic molasses, organic grains, and plant-derived ingredients as a source of sugar, nitrogen, and other key ingredients. While organically produced nutritional yeast occupies a niche percentile in the current global market scenario, demand for these products is expected to grow, attributable to increasing market penetration in Europe and North America, where the organic trend is gaining significant momentum.
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Social media sites such as Instagram and Twitter are creating a favourable perception about nutritional yeast products. Food bloggers are sharing new recipes using nutritional yeast. As nutritional yeast has a cheesy taste and is both a vegan and gluten-free ingredient, it is gaining traction among consumers on social networking sites. Rapidly increasing use of smart phones and smart gadgets in untapped areas influences consumers in these regions subsequently creating awareness about benefits of using nutritional yeast in food preparation. The demand for gluten-free food products is rising in the global food and beverages market, which is attributable to rising prevalence of celiac disease on a global scale. The consumption of organic, salt-free, vegan and plant-based protein products is increasing across the globe. The use of inactive dried nutritional yeast is increasing in animal feed. As a result of these factors, the demand for nutritional yeast is increasing rapidly.
“The increasing application of nutritional yeast in various segment such as food & beverage, dietary supplements, animal feed, and personal care drives the market. Increasing focus on animal welfare has spurred vegan population. This in turn drives the nutritional yeast market,” says an FMI analyst.
Who is winning?
Some of the key players operating in the nutritional yeast market are Angel Yeast Company Ltd., Alltech, Lallemand Inc., Lesaffre, Cypress Ingredients, Bioforce Canada Inc., Bob’s Red Mill Natural Foods, NOW Foods, Kadac Pty Ltd., Quantum Nutrition Labs and others.
Several leading players in nutritional yeast market are acquiring smaller businesses to expand their footprint and product portfolio. Besides this, acquisition often allows them to gain a competitive advantage.
- In 2016, Lallemand Inc. acquired Lage y Cía. The newly-acquired company will be included in Lallemand Plant Care, the company’s business unit focused on the use of yeasts, bacteria and fungi as biocontrol, biostimulant and biofertilizer agents in agriculture, horticulture, and forestry. The aim behind the acquisition was to expand the business footprints in Latin America, to increase the production capacity and bolster its research and development activities.
- In 2018, Lesaffre acquired Alltech’s yeast extract facility in Serbia. The aim behind the acquisition was to strengthen the Lesaffre presence in the nutrition and health market and to increase the production capacity.
Get Valuable Insights into Nutritional Yeast Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global nutritional yeast market, presenting historical demand data (2014-2018) and forecast statistics for the period from 2019-2029. The study divulges compelling insights on the nutritional yeast market based on the product type (inactive dry yeast, fortified yeast and revivable yeast), nature (organic and conventional), form (powder, flakes, tablet, capsules), applications (food & beverages, dietary supplements, personal care, animal feed and other applications), sales channel (B2B and B2C) across seven major regions.
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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.
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