Yeast Flakes Market - An Overview
The global yeast flakes market is expected to witness strong growth during the forecast period between 2021 and 2031.
Yeast flakes are plant-based proteins which have witnessed high demand among consumers worldwide. They have been deployed extensively in the manufacturing of food products that are consumed by the vegan population and the increased demand has helped in the growth of the yeast flakes market.
The outbreak of the COVID-19 pandemic positively impacted the growth in the overall yeast flakes market. Consumers across various population sections increased their focus on purchasing healthy food products which increased the sales of products rich in yeast flakes and helped in the growth of the global market.
Also, with yeast flakes products made available on various ecommerce websites, it created a novel revenue generating opportunity for the products, thereby contributing to overall market growth.
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Yeast Flakes Market - Trends and Opportunities
Rising consumer awareness about the benefits offered by functional food products is the key growth driver for the global yeast flakes market.
Also, increasing population turning vegan is expected to fuel the demand for products rich in yeast flakes and contribute to the growth of the overall yeast flakes market, in the coming years.
Increasing consumer demand for gluten-free food products in leading economies globally is anticipated to propel the global yeast flakes market, in the years ahead.
Other factors such as rapid growth witnessed in online distribution channels and rising disposable income among different population sections could assist in the growth of the overall yeast flakes market, too.
Powdered form of the product is expected to make the largest contribution to the overall yeast flakes market because of increased presence of nutritional ingredients such as calcium, iron, Vitamin B, and proteins.
Yeast Flakes Market - Competitive Landscape
The global yeast flakes market has many leading players and is highly competitive. Many of these players have become successful owing to years of delivering consistent results and are expected to hold a large share in the global yeast flakes market, in future.
Research and development activities to produce improved quality of products that would meet the requirements of large number of consumers could be a key growth strategy for well-established yeast flakes market players, in future.
Growth strategies such as novel product launches could help prominent yeast flakes market players gain a competitive edge over other players.
In 2021, Willow Biosciences approved the use of yeast strains for the production of Tetrahydrocannabinol and the eventual product produced would be provided to the Canadian markets.
Collaboration with smaller players could help well-established yeast flakes market players expand their presence and increase their revenue shares.
Some of the leading players in the global yeast flakes market include Willow Biosciences, Biomin, Lesaffre, Bragg Premium, Ohly, and Lallemand Inc.
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Yeast Flakes Market - Regional Assessment
The global yeast flakes market is divided into five regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
North America is expected to be the dominant region in the global yeast flakes market because of increasing number of vegetarians and vegans residing in countries such as US and Canada, contributing to market growth in the region.
Europe is anticipated to witness strong growth in the yeast flakes market owing to rising consumption of yeast flakes products among consumers residing in countries such as Germany and UK.
Asia Pacific is expected to witness moderate growth in the overall yeast flakes market because of lack of complete awareness about the benefits of yeast flakes in countries such as India.
Other regions of the world such as Latin America and Middle East and Africa are expected to witness sluggish growth in the global yeast flakes market, in the coming years.
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