The Growing Popularity of Veganism Accelerates Brewer Yeast Powder Market Sales with Anticipated CAGR of 6.7% in 2033 | FMI
Yeast extract, with its natural umami flavor, is a key driver in the booming vegan market, enhancing taste and quality in plant-based foods.
NEWARK, Del, Sept. 21, 2023 (GLOBE NEWSWIRE) -- The global brewer yeast powder market is poised to attain a 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 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.
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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.
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 drive the yeast extract market's growth, revolutionize how we think about, and enjoy vegan and vegetarian food options.
*Key Takeaways from the Market Study*
· The brewer yeast powder market valuation in 2022 stood at US$ 2,300 million.
· The market in Japan accumulated a value share of 7.7% in 2022.
· The market in India 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 worth 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. Other expansion strategies, including collaborations, mergers and acquisitions, and exploration of regulatory approvals, are also relied upon.
*Key Companies Profiled*
· Inland Island Yeast Laboratories
· Lesaffre
· Associated British Foods plc
· Lallemand Inc.
· Angel Yeast Co. Ltd
· AB Mauri Ltd
· Laffort SA
· Alltech Inc.
· Oriental Yeast Co. Ltd
· Omega Yeast Labs
*Some key **developments are-*
· Nutreco N.V. 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.
*More Valuable Insights Available*
Future Market Insights offers an unbiased analysis of the global brewer yeast powder market providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the global brewer yeast powder market is segmented based on type (alcohol dry yeast, liquor dry yeast, wine dry yeast, rice wine dry yeast, and beer dry yeast) and application (brewing, baking, feed, biological research, and medicine) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).
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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*About the **Author*
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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