March 30, 2020
As per the report titled ‘Europe Yeast Extract Market Size By Technology, Source, Form, Application, Regional Outlook, Competitive Market Share & Forecast, 2018 – 2024’ available with Market Study Report LLC, Europe yeast extract market is expected to surpass USD 700 million by the year 2024.
Surging demand for ready-to-eat and convenience food due to the changing consumer dietary patterns is driving the growth of yeast extract market in Europe. Growing use of natural ingredients as flavoring agents and salt reduction agent in sauces, canned soups, frozen soups, meat, canned fish, and savory mixes are further enhancing the market growth. Shifting consumer focus towards natural ingredients and lower salt consumption will foster the market growth over the forecast timeline.
Rising consumer awareness regarding the adverse effects of synthetic flavors such as MSG’s coupled with increasing demand for organic ingredients is expected to bolster the demand for yeast extract in the forthcoming years. Several benefits including high nutritional value, natural umami flavor, and clean label are favoring the product use in various functional foods and dietary supplements.
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Molasses is the most conventional fermentation media in the manufacturing process, along with saccharomyces cerevisiae, baker’s yeast and brewer’s yeast. Volatile costs of molasses and other raw materials may hinder the market growth during the study period.
Based on the technology, autolyzed yeast segment is anticipated to grow significantly and amass USD 500 million by end of 2024. High product demand owing to its use as a flavor enhancer in various processed foods, in consort with increasing expenditure on packaged food owing to improving living standards are driving the segment growth. Moreover, growing use as nutrient for microorganisms and in pet-food is expected to enhance the segment growth in the ensuing years.
Considering the geographical landscape, Italy yeast extract market is projected to exceed production of 10.5 kilo tons by the end of the forecast duration. Expansion of hotels and catering industries on account of growing consumer inclination towards outdoor food consumption are supporting the regional market growth.
Major players of Europe yeast extract market are DSM, Lesaffre Group, Kerry Group, Biospringer, Leiber GmbH, AB Mauri, and Ohly.
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