Vegan Trend to Influence Yeast-Based Spreads Market Growth
Consumers are becoming more cognizant regarding health issues and are largely inclined towards consumption of healthy food products, which has triggered demand for nutrient rich food products worldwide. Growing demand for natural and vegetarian food owing to several health benefits such as ease in digestion and rich in fibres and low fats as compared to animal-based food products is also prompting growth of the nutrition rich food. This shift in preference, since past couple of years, has moved beyond basic food items.
Consumers are looking for gratification in their vegan food including condiments and spreads that are considered as food accompaniments, which is poised to augment growth of the yeast-based spreads market. Being an umami-rich enhancer of flavour, yeast is valued and a sought-after product due to its cheesy flavour. This quality can facilitate yeast-based spreads to induce cheesy flavour to the food item, in turn supporting vegans who do not pursue dairy products. Moreover, with growing veganism trend, this aspect is expected to further drive the yeast-based spreads market growth. For instance, according to the analysis carried out by Vegan Society, about 600,000 individuals in Great Britain turned vegan in 2018. Likewise, Vegetarian Source Group analysis claims that more than 2% of individuals in United States are vegan. In this backdrop, the growing vegan trend is likely to boost growth of the yeast-based spreads market.
De-stressing and Anxiety Fighting Abilities of Yeast to Spur Growth of the Yeast-Based Spreads Market
Increasing lifestyle disorders due to rapid change in everyday living are becoming a topic of concern among millennials and adults. Lifestyle disorders such as cardiovascular diseases, stress, obesity and diabetes are prevailing at large worldwide. In addition, rising incidences of drinking and smoking are causing strokes, high blood pressure, anxiety, and bad cholesterol content, in turn impacting life of individuals. According to the World Health Organization (WHO), lifestyle disorders are one of the major causes of mortalities on the global front. This has translated into rising inclination towards high mineral and nutrition rich food. Yeast is a rich vitamin source, particularly vitamin B12 that facilitates reduction of anxiety and stress.
As per observations of Victoria University, consumption of yeast-based products such as yeast-based spreads can significantly improve anxiety and stress conditions among individuals. Moreover, increasing stress quotient among workers is further expected to supplement the consumption of yeast-based spreads. For instance, according to the American Institute of Stress, around 225 million days were registered as lost due to high stress on workers, which also resulted in productivity loss of around US$80 Mn. As per Journal of Functional Foods, individuals consuming yeast-based spreads added to their Vitamin B12 score, resulting in lowering of depression, anxiety and stress. That said, increasing awareness apropos to nutritional advantages of yeast-based spreads, particularly in reduction of anxiety, depression and stress is likely to pave potential pathways of growth for the yeast-based spreads market.
Organic Yeast-Based Spreads to Witness High Traction
On the back of increasing awareness regarding wellness and health, consumers are gradually shifting towards consumption of organic food products. The pervasive organic trend has also influenced the production of organic yeast which is essentially plant derived as compared to its conventional counterpart. Organic yeast-based spreads are soy and GMO free, rich in vitamins and minerals and low in sodium. Moreover, due to its organic production technique, chemicals, additives and artificial flavours are absent in yeast-based spreads, making them an apt food accompaniment. Absence of artificial ingredients also reduces the possibility of side effects post the consumption, alongside providing needed vitamin and mineral support. Additionally, yeast-based spreads are properly labelled based on the norms set by regulating authorities such as CGMP (Current Good Manufacturing Practice Regulations) enforced by FDA (U.S. Food and Drug Administration). This exerts a positive notion among consumers enriching their confidence regarding hygiene, safety and quality of yeast-based spreads. This aspect is expected to auger well for the growth of the yeast-based spreads market in the coming years.
Asia Pacific to Remain an Opportunistic Region for Yeast-Based Spreads Market Growth
Emerging economies in the Asia Pacific region are expected to showcase high inclination towards consumption of yeast-based spreads. Developing countries such as India are poised to significantly contribute to the overall production and consumption of yeast based products such as yeast-based spreads in the coming years. For instance, potential for growth of the yeast-based spreads market India can be attributed towards the country’s own export and demand quotients. Being one of the major sugarcane producers, India has ample supply of molasses which is a key raw material for yeast production. Moreover, the increasing demand for confectionery and bakery food products and non-GMO food products continues to fuel demand for yeast-based spreads. Overall, a sanguine scenario of Asia Pacific continues to influence the yeast-based spreads market growth and manufacturers can expect a stream of opportunities in the coming years.
Global Yeast-Based Spreads Market: Competitive Landscape
Few of the key players in the yeast-based spreads market include Unilever Plc, Mars Foods, Bega cheese, Nature’s Blend and AussieMite.
Global Yeast-Based Spreads Market is Segmented as Below:
By Product Type
By End Use
Key Elements Included In The Study: Global Yeast-Based Spreads Market
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