Yeast Extract Market share to exceed $ 1.8 Billion by 2024: Global Market Insights Inc. The research report Global Yeast Extract Market Size By Technology (Autolyzed Yeast, Hydrolyzed Yeast), By Source (Baker’s Yeast, Brewer’s yeast), By Form (Powder, Paste), By Application (Food & Beverages [Soups, Processed foods, Dairy Products, Bakery, Sauces & Savory Flavors], Animal Feed, Pharmaceuticals), Regional Outlook, Competitive Market Share & Forecast, 2016 – 2024” says, Global Yeast Extract Market size is set to exceed USD 1.8 Billion by 2024 Yeast extract market is slated to cross a valuation of USD 1.8 billion by 2024, subject to the fact that the product boasts of a massive application spectrum, such as the animal feed, food & beverages, and pharmaceuticals sectors. Yeast extract is basically a natural ingredient that encompasses high-quality proteins, minerals, carbohydrates, B complex vitamins, amino acids, nucleotides, and lipids and is predominantly used as a food flavoring agent. It finds applications in processed and canned food, frozen meals, dietary supplements, and pharmaceutical and dairy products, primarily due to the fact that it contains essential nutrients that promote the growth of beneficial microorganisms. In addition, the extract enhances the taste and flavor of food products and is extensively used in the food & beverage sector, thereby propelling Yeast Extract Market, slated to grow at a rate of 5.5% over 2016-2024.
Yeast extract industry is characterized by novel product developments. For instance, Lallemand, a renowned yeast & bacteria manufacturing and processing firm, recently came up with a unique yeast extract product called Prim Lyfe 175A, which can be used as a viable alternative to meat as it imparts a similar taste, texture, and flavor, and is also the first yeast extract product that contains more than 70% protein content. Many other companies have also been striving to develop innovative products, which is likely to propel yeast extract market. Yeast extract industry is also characterized by frequent mergers & acquisitions. For instance, Lesaffre, a major participant of global yeast extract market, recently declared that it plans to acquire Sensient‘s Strasbourg yeast extract food business with an aim to improvise on product development, enhance operational productivity, and increase the geographical scope of the business. Worldwide yeast extract market share is quite consolidated and involves the participation of selected companies such as Bioorigin, Halcyon Proteins, Angle Yeast, Oriental Yeast, Lallemand, Ohly, Lessafre, Synergy Flavours, AB Mauri, Titan Biotech, Biospringer, DSM, Alltech, and Kerry Group. Industry players have also been focusing on developing products that have a rather low carbon dioxide emission rate. 1|Page