Asia Pacific Yeast Extract Market size was valued at above USD 365 million in 2019 and industry is expected to witness substantial gains at 7.1% by 2026.
Yeast extracts are made from yeast in which cells are present without the cell walls. They are generally categorized into two types, autolyzed and hydrolyzed yeast extracts. They have wide applications in the food and beverage industry as food additives or flavoring agents. The application includes soups processed foods, dairy products, bakery, sauces & savory flavors, and many other food and beverages. Additionally, yeast extract is also used in the animal feed industry, as additives, which aid animals to enhance animal production and health.
There are different source of yeast extracts, which is classified as baker’s yeast and brewer’s yeast. Bakers' yeast (Saccharomyces cerevisiae) is majorly used in the pharmaceutical industry as a medication for the treatment of hemorrhoids, wounds, and burns. Yeast extracts contain a high level of protein in readily and easily absorbable predigested forms for example amino acids and peptides.
Multiple applications of yeast extract especially in the food and beverage industry drive its growth over the forecasted period. APAC yeast extract market from food & beverage application is expected to surpass USD 360 million by 2026. As growing demand for packaged food owing to the rising working population around worldwide and their hectic busy schedule fuel the demand for yeast extract in the food and beverage industry. Moreover, yeast extract is also Halal, Kosher, GMO-free, and gluten-free. Where in the food and beverage industry the demand for mentioned certified food is high, owing to the rising concern of humans towards their health and eating habits. Hence, this factor accelerates the demand for yeast extract over the forthcoming years.
Yeast extract consists of a large number of probiotics, which make yeast extract highly applicable in the pharmaceutical industry for treating respiratory infections, diarrhea, common cold, premenstrual syndrome, and high cholesterol rates. Additionally, It is also used for controlling the blood glucose level in diabetic patients, as using yeast extract led the food manufacturer reduction up to 30% of sugar. Hence these varied benefits of yeast in the food and pharmaceutical industry propel its demand in the forecasted period.
Asia Pacific led by China, India, and Japan is anticipated to show high pace growth of yeast extract in the forecasted period. Changing consumer lifestyles living in the developing countries, surge in demand for natural ingredients by consumers, and growing urbanization. Furthermore, rising demand for baked food products and widespread utilization of organic yeast extracts in the food & beverage industry are few factors propelling the demand for yeast extract in the Asia Pacific region over the coming timeframe.
Among all counties in the Asia Pacific, China holds the major share in the yeast extract market at over 35% owing to the high consumption of yeast extracts in China’s food and beverage industry. The rising demand for ready-to-eat food products pertaining to shifting dietary preferences of the consumers and high demand for natural ingredient in canned and frozen soups, meat, sauces, and fish, and savory mixes, led to drive the demand for yeast extract in the china food and beverage industry over the forthcoming year.
Asia Pacific Yeast Extract Market share is competitive with key players including Angel Yeast, Lallemand Inc, Lesaffre, Leiber GmbH, Novozymes, Koninklijke DSM N.V., Kerry Group PLC, Synergy Flavors, Kothari Fermentation and Biochem Ltd., Oriental Yeast Co., Ltd., BSG CraftBrewing, and many others. Manufacturers are majorly focusing on research and development to introduce a new product in their product offering. Additionally, players in the market are adopting the strategy of mergers and acquisitions to strengthen their production capacity and global footprint.