The global Nutritional Yeast Market is estimated to be valued at US$ 195.35 million in 2021 and is expected to exhibit a CAGR of 11.54% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Nutritional yeast is a deactivated yeast that is commonly used as a flavoring agent in various food products. It is a rich source of protein, vitamins, and minerals, making it a popular choice among health-conscious consumers. The product offers numerous advantages, including being a complete protein source, providing essential amino acids, and offering a cheese-like flavor in vegan dishes. With the increasing adoption of plant-based diets and growing awareness about the benefits of nutritional yeast, the market is expected to witness significant growth.
Market Key Trends:
One key trend in the nutritional yeast market is the rising demand for plant-based protein alternatives. As more consumers shift towards vegetarian and vegan diets, the demand for plant-based protein sources is increasing. Nutritional yeast offers a viable option for individuals looking to incorporate more protein into their diet without consuming animal products. It can be easily added to a variety of dishes, such as soups, salads, and pasta, providing a nutritious boost. This trend is expected to drive the growth of the nutritional yeast market in the coming years.
PEST Analysis:
Political: The political factors impacting the nutritional yeast market include government regulations and policies on food safety and labeling. Governments may impose restrictions on the use of certain ingredients or require specific labeling requirements, which can affect the production and marketing of nutritional yeast products.
Economic: The economic factors influencing the market include the disposable income of consumers, inflation rates, and exchange rates. As nutritional yeast is considered a specialty food product, its demand may be sensitive to changes in consumer purchasing power, and fluctuations in currency exchange rates can impact the cost of imported nutritional yeast products.
Social: The social factors affecting the market include changing consumer preferences and lifestyles. Increasing consumer awareness about health and wellness, along with a growing vegetarian and vegan population, has led to a rise in demand for plant-based food products such as nutritional yeast.
Technological: The technological factors impacting the market include advancements in food processing and packaging technologies. Improved manufacturing processes and packaging innovations can enhance the shelf life and quality of nutritional yeast products, making them more appealing to consumers.
Key Takeaways:
The Global Nutritional Yeast Market Demand is expected to witness high growth, exhibiting a CAGR of 11.54% over the forecast period of 2022-2030. This growth can be attributed to several drivers, such as the increasing adoption of vegan and vegetarian diets, rising health consciousness among consumers, and the growing demand for natural and clean label food products. Nutritional yeast, with its high nutritional value and versatile applications in various food and beverage products, is gaining popularity as a healthy alternative to traditional seasonings and flavorings.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the nutritional yeast market. The region has a well-established vegan and vegetarian population, along with a strong focus on health and wellness trends. Additionally, the presence of key players and their investments in research and development activities contribute to the market's growth in North America.
Key players operating in the nutritional yeast market include Lesaffre Group, Cargill, Incorporated, Lallemand Inc., Angel Yeast Co. Ltd., Archer Daniels Midland Company, ABF Ingredients Ltd., AB Mauri, and NOW Foods among others. These players have a significant market presence and are actively involved in product development, partnerships, and acquisitions to expand their customer base and gain a competitive edge in the market.
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.
As a result the demand for gluten-free, organic and salt-free products is rising in comparison to traditional full course meals.
Global research and development spending has reached a record of US$ 1.7 trillion, out of which 80% is accounted by 10 countries.
This innovative strain is used as an animal feed ingredient to enhance immune response.Download Sample Copy@ https://www.futuremarketinsights.com/reports/sample/rep-gb-10918Inactive dried nutritional yeast can be used as an effective ingredient in animal feed to boost nutritional content.
This encourages manufacturers to expand their product portfolio to include certified organic offerings, which is anticipated to help them strengthen their market positions.
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.Social media sites such as Instagram and Twitter are creating a favourable perception about nutritional yeast products.
