According to a new market report published by Credence Research, Inc., “Global Nutritional Yeast market (By Type (Flakes, Powder and Others (Tablets etc.)), By Applications (Functional Foods, Dietary Supplements, Animal Nutrients, Clinical Nutrition and Others).-Growth, Future Prospects and Competitive Landscape, 2019 – 2027”, the global nutritional yeast market is expected to witness a growth of 9.5% CAGR during the forecast period from 2019 to 2027.
The global nutritional yeast market is expected to observe a huge growth, at a CAGR of 9.5% during the forecast period from 2019 to 2027. Nutritional yeast is in demand because of properties like sugar-free and fat-free content and having low sodium constituents. Growing demand for vegan products and increasing health awareness among millennial, is one of the key factor increasing the demand for nutritional yeast market. Nutritional yeast is an inactive yeast which does not encourage more growth of yeast. Nutritional yeast is the best substitute of cheese and meat among vegans. It is a good source of vitamin B-12 which is found only in meat products thereby, gaining popularity among vegans. Moreover, increasing awareness about various diseases caused by meat products is one of the key factor for the growth of nutritional yeast market across the globe.
The nutritional yeast market is segmented based on type, application and geography. Based on type, nutritional yeast flakes is growing at a considerable amount due to increasing demand of cheese substitute without any animal fats and calories. Moreover, manufactures are increasing their portfolio to provide more nutritional yeast flakes in the market which thereby, is increasing the demand for nutritional yeast products. For instance, in November 2017, Marigold brand of Natural Superfood announced to expand its product portfolio in the UK market. Marigold launched Super Engevita Flakes, manufactured from plant-based products. The launch of Super Engevita Flakes aims to provide wide range of vegan products for baking. Further, based on geography, the nutritional yeast market was dominated by North America in 2018. In North America, the U.S. leads the nutritional yeast market. Due to the presence of major players such as Ohly, Pacific Ethanol and Biomin among others. Moreover, the demand for nutritional yeast is rising in North America due to increasing deficiency of vitamin B in the North America region. For instance, according to Centers for Disease Control (CDC) National Report of 2012, B6 is the most deficit vitamin among people living in U.S region, and nutritional yeast contains high concentrates of vitamin B, which is one of the key reason increasing the demand for nutritional yeast products in North America.
Major players identified in the nutritional yeast market include Lesaffre, Lallemand Inc., Archer Daniels Midland Company, AngelYeast Co. Ltd., Ohly, Pacific Ethanol, Inc., Biomin, Bob’s Red Mill Natural Foods, Bragg Premium, Urban Platter and Simply organic among others. Manufacturers are focusing on strategies such as partnerships, expansion and collaborations. For instance, in 2018, Lallemand collaborated with Shanghai Toong Yeuan Food Tech Ltd. The collaboration aims to showcase Lalmin and Engevita nutritional yeast flakes in the National Exhibition and Convention Center in Shanghai.
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