by The global Nutritional Yeast Market is estimated to be valued at US$ 229.6 Mn or Mn in 2023 and is expected to exhibit a CAGR of 14.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Nutritional yeast is a food product that is grown on molasses or glycerol as a growth medium. It provides various nutritional benefits such as vitamins like vitamin B12, minerals, and fiber. The nutritional yeast is available in the form of flakes and powder and is a popular substitute for cheese in vegan cooking.
Market key trends:
One of the key trends fueling the growth of the nutritional yeast market is growing consumer preference for vegan and organic food products. With increasing awareness about health benefits of plant-based diets and animal welfare, the demand for vegetarian and vegan food products is increasing significantly. Moreover, nutritional yeast contains higher protein content as compared to regular yeast, thus provides essential nutrients without cholesterol or saturated fats. This makes it a popular ingredient in vegan diets. This growing trend towards veganism is expected to drive the nutritional yeast market during the forecast period.
Market Key Trends:
The nutritional yeast market has seen rising demand due to its high protein and vitamin B12 content. It is commonly used as a dietary supplement and food additive. One key trend in the market is the increasing popularity of vegan and plant-based diets. More consumers are avoiding animal products and nutritional yeast serves as a suitable replacement for cheese or other dairy items in terms of taste and protein content. It can help add flavor and nutrition to vegan products. Another major trend is the rising health consciousness among people. Nutritional yeast is marketed as a better alternative to commonly used yeast extracts as it contains numerous health-boosting vitamins and minerals.
SWOT Analysis:
Strength: Nutritional yeast containshigh nutritional value with protein, vitamins and minerals. This makes it ahealthy alternative to commonlyused yeast extracts.
Weakness:Its taste can be acquired, as it hasasavory, cheese-like flavor not liked by everyone.
Opportunity: Growing demand for plant-based, vegan food products presentsan opportunity for increased use of nutritional yeast as a dairy alternative.
Threats: Fluctuations in agricultural commodity prices can impact costs. The market also faces threat fromother substituteproductslike textured vegetable protein.
Key Takeaways:
The global nutritional yeast market size was valued at US$ 229.6 million in 2023. Growing at a CAGR of 14%, the market is expected to reach a value of US$ 672.5 million by 2030. North America currently dominates the market owing to increasing health consciousness and shifting preferences towards vegetarian and vegan diets in the region.
The nutritional yeast market is witnessing high growth in the Asia Pacific region due to rising disposable incomes, growing health awareness and expanding vegan population in countries like India and China.
Key players operating in the nutritional yeast market include Kothari Fermentation and Biochem Ltd, ABF ingredients, Biomin, Angel Yeast, Bob’s Red Mill, Cargill Inc., Nutreco, Alltech and Pacific Ethanol. These companies are focused on new product launches and capacity expansions to cater to the rising global demand.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
