According to a new report published by Allied Market Research, titled, “Yeast Flakes Market by Form and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,”
The global yeast flakes market size was valued at $610.2 million in 2020, and is projected to reach $1,451.2 million by 2030, registering a CAGR of 9.1%. Yeast flake is one of the most emerging markets among nutritional products, owing to increase in health awareness among customers.
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Yeast flake is light brown powder made from Saccharomyces cerevisiae yeast. It is known as a flexible ingredient that goes well with almost any diet or eating style. Its consumption can improve digestive problems including diarrhea or infections such as cold and flu.
The yeast flakes market is driven by factors such as rising consumption of functional food. Health benefits obtained by including yeast flake in dietary supplements is one of the major factors that drive yeast flakes market growth. Moreover, increase in awareness among consumers regarding health benefits associated with functional food is expected to boost demand for such products in the market.
Moreover, rise in awareness of animal nutrition is also expected to propel the market growth during the forecast period. Awareness about end products is increasing focus on animal nutrition in the market. Animals with sufficient nutrition have the energy to grow, develop, and breed, as well as a strong immune system to resist infections, which results in higher productivity. Use of yeast in animal feed is beneficial as it enhances ruminant growth and production efficiency.
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Increase in prevalence of diseases, rise in prevalence of the COVID-19 pandemic, advancements in living standards, and rapidly growing vegan population are also the major factors that propel the market growth. Gluten free products are gaining traction as many consumers are trying to reduce or eliminate gluten from their diet, owing to adoption of special dietary lifestyles, which boosts demand for gluten free products in the market. It can be beneficial in diagnosis of food allergies and also helps individuals to lose their weight. Moreover, gaining weight is a major problem in lives of almost everyone and consumers are more likely to get numerous health problems associated with extra fats in the body. Hence, demand for functional and gluten free products is gaining attraction among health-oriented consumers.
Consumer spending on high-quality and high-nutrient foods is rapidly increasing and fast foods, functional foods, organic fruits and vegetables, and other lifestyle food sources are becoming increasingly popular. Further, consumers are largely focusing toward adoption of vegan food items with high nutritious value and willing to pay higher price for nutritional agriculture products. Moreover, consumer awareness regarding health benefits associated with functional foods like yeast is increasing. There has been a significant change in diets and lifestyle of consumers, which shows an opportunity for functional foods such as yeast flakes.
According to the yeast flakes market analysis, the market is segmented on the basis of form, application, and region. On the basis of form, it is categorized into flakes, powder, and others. As per applications, it is divided into foods & beverages, dietary supplements, animal feed, and others.
Region-wise, the yeast flakes market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By form, the flake segment was the highest revenue contributor in 2020, owing to the convenience offered. By application, the foods & beverages segment held the largest yeast flakes market share in 2020 and is likely to remain same during the yeast flakes market forecast period. The segment is the most versatile segment for nutritional and gastrointestinal properties of yeast. Consumers are favoring nutritious yeast products, which help the industry grow even more. Moreover, consumers are inclined toward yeast flakes as it is chemical free with no additives.
The key companies profiled in Yeast flakes industry are Alla’s Posh Flavors, Anthony’s Goods, Hoosier Hill Farm LLC, Lesaffre, Now Foods, Nunaturals, Sari Foods, Sattvic foods, Urban Platter, and Vvegano.
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Key Findings of the Study
- By form, the powder segment held the highest share, accounting for 65.2% of the global yeast flakes market.
- By application, the organic segment witnessed a major growth rate of 12.8%
- Region wise, the Latin America segment witnessed a major annual growth rate of 9.9%.
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