The competitive rivalry among the players operating in the global yeast extract and beta glucan market is intense as they strive to gain a wider consumer base through product innovation, states Transparency Market Research (TMR) in a new report. There are a significant number of players, both global and regional operating in the market for yeast extract and beta glucan. Moreover, several small scale companies are also investing in the market, especially in the yeast extract segment due to the high growth potential present in it. The top three players in the global yeast extract and beta glucan market, Associated British Foods plc., Lesaffre, and DSM N.V., accounted for a share of approximately 16.8% in 2014.
The global yeast extract and beta glucan market is anticipated to exhibit a CAGR of 7.6% between 2015 and 2021. In 2015, the market was worth US$677.6 mn and is projected to rise to a valuation of US$1,054.5 mn by the end of 2021. Based on application, the bakery and processed food segment dominated the global yeast extract and beta glucan market. The market for yeast extract and beta glucan in the bakery and processed food segment was worth US$218.7 mn in 2014 and is expected to reach US$355.1 mn by 2021. Yeast and beta glucan are used as functional ingredients in food products. Their use is prominent in bakery products such as waffles, cakes, bread, cookies, and biscuits. In addition, they are also used in savory dishes such as marinated meat, sauces, bouillons, stews, and soups to enhance the flavor and taste. The rising demand for bakery products and savory dishes has impelled manufacturers to increase the production of these products, thus intensifying the demand for yeast extract and beta glucan.
Rising Demand from Brewing and Baking Industries to Push Europe towards Promising Growth
Region-wise, Europe emerged dominant in the global yeast extract and beta glucan market with a share of almost 37.3% in 2014 and is anticipated to account for a share of 37.0% in 2021. It is expected that Europe will maintain its dominance over the forecast period. According to a TMR analyst, “The growth of the yeast extract and beta glucan market in Europe can be attributed to the growing demand from the brewing and baking industries in the region.” Beta glucan and yeast extract have considerable applications in beer and malt production in Europe. Due to shortage of molasses, which is one of the prime raw materials used for yeast extract, the yeast extract and beta glucan industry is likely to face stiff competition from other industries. However, the rising application of beta glucan and yeast in the bakery and processed food industries in the region is likely to bode well for the growth of the market.
Robust Urbanization to Intensify Consumption of Beta Glucan and Yeast Extract
Due to growing urbanization, the consumption of ready to eat and processed food is increasing substantially. Furthermore, the demand for processed food products is also expected to rise due to the increasing urban population and growing number of working women. The flourishing fast food culture is one of the key factors that is anticipated to drive the demand for yeast extract and beta glucan as they are extensively used in processed and bakery food products. Moreover, the growing popularity of probiotic functional food products among consumers is anticipated to drive the growth of the market. Yeast extract is an important additive in probiotic functional food as it helps in improving digestion and restoring health.
Dearth of Molasses to Act as Hindrance in Growth of Market
Molasses or black treacle is a significant raw material required for the growth of yeast. Molasses is the final residue after repeated sugar crystallization. The production of yeast is highly dependent on the availability of molasses. The yeast market is facing tough competition from other industries in terms of raw materials availability due to shortage of molasses. The developing bio-fuel industry is also likely to threaten the growth of the yeast margin as it operates on high margins. However, producers of yeast extract and beta glucan can expect growth opportunities from the wide applications of yeast extract and other derivatives in untapped sectors.
This review is based on a Transparency Market Research report, titled, “Yeast Extract and Beta Glucan Market - Global Industry Analysis, Size, Share, Growth and Forecast 2015 - 2021.”
Global yeast extract and beta glucan market has been segmented as follows:
In addition, the report provides cross-sectional analysis of all the above segments with respect to the following geographies:
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453