Some of the prominent manufacturers, producers, and suppliers in the global yeast extract and beta glucan market are Specialty Biotech Co., Ltd., Royal DSM N.V., Lallemand Inc., Bio Springer, Biotec Pharmacon ASA, Alltech Inc., AB Mauri, ABF Ingredients, and Angel Yeast Co. Ltd., finds Transparency Market Research (TMR). Top players that include Walmart Inc., Carrefour S.A., Sainsbury’s and several giant retailers, are intensively leveraging the potential of several distribution channels to maintain their dominating positions in the market. TMR notes that they are selling yeast extract in select superstores and retail chains to reap large revenue earnings. In addition to this, e-commerce giant Amazon and British Food Depot may open other lucrative means for selling yeast extracts and beta glucan and related ingredients, observes TMR.
By the end of the assessment period, established markets are likely to witness the dominance of supermarkets, convenience stores, and online stores. However, direct distribution channels are expected to be an attractive proposition for some globally prominent players such as Chr. Hansen A/S to market their products. These players are offering yeast extracts to laboratories that cultivate microbes and numerous biopharmaceutical companies.
The global yeast extract and beta glucan market is projected to rise at a promising CAGR of 7.6% during the forecast period of 2015–2021. The market stood at US$0.72 billion in 2016 and is expected to rise to an opportunity worth US$1.05 billion by the end of 2021.
The broad types in the market comprise yeast extract and beta glucan, of which yeast extract is expected to hold the sway in the global market. The growth of the segment is projected to ride on the back of its widespread demand as ingredients in a variety of food products. The demand for yeast extracts is projected to rise at a greater CAGR of 7.8% during 2015–2021.
Regionally, Europe is projected to hold the major share throughout the forecast period. However, analysts forecast a strong tendency for the regional market to lose shares to the rapidly emerging North America and Asia Pacific. These regions can jointly contribute a promising share of 50.0% in the global market by 2021 end.
Substantially Rising Usage in Processed and Functional Food Products propels Growth
The yeast extract and beta glucan market is prognosticated to experience attractive strides driven by their rising usage of these in food production world over. The extensive usage of yeast extract as natural ingredients in the processed food industry is a notable factor propelling the growth of the market. The burgeoning rise in consumption of processed foods, supported by the rapid pace of urbanization in various regions, is catalyzing the demand. The potential application of beta glucan as functional ingredients in the global food industry is accentuating the global market.
A significant chunk of the revenue in the global market comes from the widespread demand for yeasts in the production of dairy and functional food products, notably across Europe. The rising application of yeast extract and beta glucan in the sectors such as cosmetics, animal feed, pharmaceuticals, and beverages is constantly boosting the market.
The market is projected to reap lucrative prospects from the rising demand for yeast extracts and beta glucan in making cellulosic biofuels. Moreover, their application in the probiotic functional food segment is also an attractive proposition for market players.
Intense Search for Novel Applications in Food Production unlocks Promising Avenues
The global beta extract and beta glucan is expected to be suffer setbacks from the marked lack of a key raw material, namely molasses. However, emerging several promising applications of yeast extracts and beta glucan in the processed food industry is likely to expand the prospect of the market.
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The search for novel solutions by manufacturers is also providing an attractive thrust to the growth of the market. The versatile usage that yeast extracts can be put to in various forms in food production has created lucrative avenues in the market. The demand for yeast extract as an inexpensive alternative to monosodium glutamate (MSG) is a case in point.