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North American Yeast Extract Market revenue to reach $500 Mn by 2028
Published Date: 2022-07-18
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North American Yeast Extract Market size is poised to cross USD 500 million by 2028, according to a latest forecast report by Graphical Research. The market growth is owing to the robust demand for natural food ingredients.
Yeast extract is derived from fresh yeast and is therefore considered a natural ingredient of choice for varied food and beverage formulations, especially for consumers who seek nutritious products. The product is widely used as a flavoring agent in foods, majorly in ready-to-eat meats, snacks, and soups.
The proliferation of funding programs to support food processing plants is one of the prominent factors creating a strong outlook for the North America yeast extract industry. For example, in June 2022, the USDA (United States Department of Agriculture) announced an investment of up to USD 375 million to promote independent meat and poultry processing facility projects.
The consumption of yeast extract is also rising due to the growing awareness of its health benefits. Nutritional yeast can promote eye health, boost brain functions, help balance hormones, and boost immunity, protecting consumers against a range of diseases. Such factors, alongside the rising intake of dietary supplements and functional foods, will have a positive impact on the industry size.
The baker’s yeast extract segment is slated to become highly popular among North American consumers, considering the increasing intake of baked goods, especially during the COVID-19 lockdowns.
The autolyzed yeast extract technology segment accounted for USD 250 million revenue in 2021, further influenced by the emergence of the U.S. as the largest animal feed manufacturing hub and livestock industry. Extensively used in foods as well as animal feed to improve digestion, eliminate toxic metabolic products, and reduce the risks in the gastrointestinal tract.
Browse detailed statistical insights from the report, “North America Yeast Extract Market Forecast 2028 By Source (Baker’s Yeast, Brewer’s yeast), By Technology (Autolyzed Yeast, Hydrolyzed Yeast), By Form (Powder, Paste), By Application (Food & Beverages [Soups, Processed foods, Dairy Products, Bakery, Sauces & Savory Flavors], Animal Feed, Pharmaceuticals), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The yeast extract paste segment is highly favored among consumers since the concentrated nutritional yeast is mostly available in the form of paste. Greater attention on ensuring access to nutritious foods, particularly during the coronavirus pandemic.
The pharmaceuticals segment will surpass USD 100 million by 2028, credited to the increasing usage of brewer’s yeast in alternative medicines to aid digestion and treat multiple health conditions. The number of people diagnosed with diabetes and other chronic disease has been rising in America. This has, in consequence, asserted a positive influence on the demand for yeast extract for pharmaceutical applications.
Canada yeast extract industry is slated to witness remarkable growth between 2022-2028, driven by the burgeoning export of processed foods. According to the Government of Canada, the country exports processed food and beverage products to over 192 countries. Despite the COVID-19 disruptions across the Canadian livestock sector, cattle farming has also been constantly growing. Factors like these could favor the animal feed producers and consequently drive the popularity of yeast extract in Canada.
The North American yeast extract market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons & revenue in USD Million from 2017 to 2028 for the following segments.
North America Market, By Technology
- Autolyzed Yeast
- Hydrolyzed Yeast
North America Market, By Source
- Baker’s Yeast
- Brewer’s Yeast
North America Market, By Form
North America Market, By Application
- Food & Beverages
- Processed Foods
- Dairy Products
- Sauces & savory flavors
- Animal feed
The above information has been provided for the following countries:
- North America