Thriving Veganism Drives Nutritional Yeast Market Forward
A vegan-friendly ingredient adds a cheesy flavour to everything from popcorn to garlic bread to pasta. Adds a savoury, umami flavour to savoury dishes, low calorie alternative to adding hard cheese, contributes to a creamy texture in sauces, shake on top of popcorn, bagels, pasta, and potatoes. Vegan-adapted recipes use nutritional yeast to add creaminess to sauces or to replicate traditionally cheese-laden dishes such as mac and cheese, au gratin potatoes, or Italian-style pasta casseroles. Mounting demand for nutritional yeast due to its low salt and calorie content in addition to the sugar-free, fat-free, and gluten-free profile is expected to fuel the growth of nutritional yeast market in the near future. With increased knowledge of meat-related diseases such as avian flu, and swine flu, there has been a surge in demand for meatless products, as well as vegetable proteins, which is projected to strengthen the worldwide nutritional yeast market in future.
Surging popularity of vegetarian and vegan lifestyles, and an increase in the number of health-conscious people are driving the expansion of global nutritional yeast market. Increasing rate of obesity worldwide, as well as an increase in chronic lifestyle disorders such as heart disease, high blood pressure, diabetes, and asthma have increased consumer health consciousness. This has increased demand for all types of healthy food products, including vegan ones, thus driving the expansion of speciality segments like nutritional yeast market. Vegans have risen globally recently, notably in affluent nations such as North America, and Europe. Approximately 79 million people turn into veganism as of January 2021. Although the fact is that veganism barely accounts for 1% of the global population, the trend of veganism continues to receive an impetus from a growing number of digestive diseases, and the rising prevalence of lactose intolerance. In 2021, around 20 million Americans were reportedly living with certain digestive diseases and experts estimate that about 68 percent of the world's population has lactose intolerance. With the growing number of digestive disorders, the trend of veganism is more likely to grow. This will possibly benefit nutritional yeast market.
Organic Yeast Dominant in Nutritional Yeast Market on the Back of Green Label Products Trend
Organic food ingredients are gaining popularity due to the numerous health benefits they provide to consumers Rising consumer awareness of health and wellness, the growing need to substitute monosodium glutamate (MSG) as an ingredient in food items and increased worldwide demand for organic yeast products are all driving the segment growth. Organic food items are expensive; yet, due to significant increases in developed and emerging countries' per capita GDP growth, customers are willing to spend on products containing organic components. This has created tremendous prospects for organic nutritional yeast, commonly used in salads, soups, popcorn, dips, and casseroles. Organic nutritional yeasts are also free of GMOs and soy, are low in salt, are high in minerals and vitamin B, and are devoid of chemical additions, and artificial tastes.
North America Continues to Spearhead, Asia Pacific All Set to Exhibit Fastest Growth
North America is the leading region for the nutritional yeast market, owing to the increasing number of vegetarians, and vegans gravitating toward healthy yeast products, driving the growth of the nutritional yeast market. Bread, rye bread, whole wheat bread, buns, white bread, brown bread, and many other bakery items are in high demand globally. Growing need for the enrichment of animal feed products, and the parallelly rising alcoholic consumption are also collectively driving nutritional yeast market here. The United States is expected to have the most significant market share in the forecast period. This is due to expanding consumer health awareness, which drives up demand for organic products in the country. According to a new survey, the number of Americans eating plant-based diets has increased by about 9.6 million in the last 15 years. This is a 300 percent increase and roughly 3% of the US population. Therefore, with the continual rise in the vegan population, the demand for nutritional yeast will increase in the upcoming years.
Asia Pacific is expected to be the fastest-expanding region due to an increase in demand for natural and organic food components from significant economies such as China, India, Japan, and other southeast Asian countries, which have seen an increase in the number of health-conscious customers. Increased disposable income and consumer understanding of dietary requirements in daily diets have led to the rise in demand for protein-rich nutritional food products. In the Asia Pacific, trends toward healthy lifestyles and prevention among older customers seeking to avoid high healthcare expenditures and live longer lives are fuelling the growth potential for dietary supplements. As a result, nutritional yeast thrives since it is a high-quality nutritional supplement that contains vitamins, minerals, and proteins that help enhance immunity. In India, celiac disease affects approximately six to eight million people, according to doctors at the All India Institute of Medical Sciences, and roughly 10 percent of the Indian population suffers from gluten intolerance. The growing prevalence of celiac disease, and gluten intolerance is propelling the growth of nutritional yeast in the region.
Global Nutritional Yeast Market: Competitive Landscape
Companies in the market are launching new items and collaborations, alliances, and partnership agreements. In January 2021, Willow Biosciences Inc. expanded the use of yeast strains to manufacture THC for Cannabis 2.0. The finished product will be available in Canadian markets. In April 2020, Biospringer's North American Corporation extended its production facility in Iowa, United States. It increased the size of their yeast extract plant in Cedar Rapids, Iowa, USA. This expansion is expected to support its expanding market trend for naturally-sourced fermentation-derived components.
A few of the top players in global nutritional yeast market include Lessafre Group, Angel Yeast, Alltech, AB Mauri, The Archer Daniels Midland Company, Chr. Hansen A/S, Biomin, Cargill Inc., Leiber GmbH, and Bragg Premium.
Global Nutritional Yeast Market is Segmented as Below:
By End Use
By Distribution Channel
Key Elements Included In The Study: Global Nutritional Yeast Market
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