Stakeholders in nutritional yeast market must prioritize business acquisition to bolster their credibility, facilitate R&D activities, variegate product portfolio and gain global market foothold
DUBAI, UAE / ACCESSWIRE / February 18, 2020 / Set to cross the billion-dollar mark by 2029, global nutritional yeast market will witness an astounding CAGR of 14% over the course of forecast period (2019 - 2029). Increasing incorporation of nutritional yeast in various end-use industries such as personal care, animal feed, dietary supplements, and food & beverages will remain a key booster to market growth, as suggested by a new Future Market Insights (FMI) report.
"Salt-free and gluten-free attributes of nutritional yeast are inflating the profit pool of manufacturers, worldwide. Sales of nutritional yeast will soar steadily through 2029 in view of rising preference amongst vegan, health-conscious, and geriatric population," concludes the FMI study.
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Key Takeaways of Nutritional Yeast Market Study
- Inactive dry yeast holds the prominent share in nutritional yeast market owing to its usage in animal feed industry.
- Food & beverages industry continues to generate prodigious demand for nutritional yeast, accounting for 40% share.
- Consumers will continue to prefer powdered form of yeast through the forecast period.
- Conventional nutritional yeast holds a majority of share; its organic counterpart will witness a noteworthy CAGR.
- Developing countries are at the forefront of nutritional yeast market, owing to greater prevalence of nutritional deficiencies.
Nutritional Yeast Market - Top Growth Drivers
- Soaring demand for organic nutritional yeast is driving the market.
- Increasing usage of yeast in personal care products is a major growth contributor.
- The expanding vegan population prefers nutritional yeast as plant-based protein source, thereby fueling the market growth.
- Greater inclination of consumers towards healthier lifestyle is driving the nutritional yeast market.
Nutritional Yeast Market - Key Restraints
- Stringent government regulations imposed on organic yeast production continue to restrain market growth.
- Production costs associated with organic yeast results in lesser yields as compared to their conventional counterparts.
Competition Landscape of Nutritional Yeast Market
Some of the leading players profiled in this report include, but are not limited to, NOW Foods, Bioforce Canada Inc., Alltech, Yeast Company Ltd., Quantum Nutrition Labs, and Lallemand Inc. Business acquisition is the chief strategy being followed by key players in nutritional yeast market. Market leaders are channeling their resources towards expanding their product portfolio, market foothold and gaining competitive advantage. For instance, Lesaffre expanded its production capacity in Serbia's nutrition and health market by acquiring Alltech's yeast extraction facility in 2018. On the other hand, Lallemand Inc. bolstered its R&D activities by acquiring Lage y Cía. This business acquisition allowed Lallemand Inc. to foster product offerings in yeast-based biofertilizer, biostimulant and biocontrol agents.
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More About the Report
This Future Market Insights study of 250 pages offers actionable insights on global nutritional yeast market. The market analysis is based on nature (conventional and organic), product type (revivable yeast, fortified yeast and inactive dry yeast), form (capsules, tablet, flakes and powder), applications (animal feed, food & beverages, dietary supplements and personal care), sales channel (B2C and B2B) across seven major regions (China, Latin America, North America, Western Europe, Middle East & Africa, Asia Pacific Except Japan, North & Eastern Europe).
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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