by Nutritional yeast is a food rich in nutrients like vitamin B complex, minerals and proteins that act as a nutritional supplement. These yeasts are grown on molasses or other substrates and harvested during the exponential growth phase. They contain flavonoids and fiber that promote gut health and antiviral, antioxidant and anti-inflammatory benefits. The yeast extracts find application as a plant-based seasoning or condiment containing umami flavors to enhance the taste of foods. They are typically used as a substitute for cheese on salads and pasta to provide a cheesy flavor without dairy.
The global Nutritional Yeast Market is estimated to be valued at Us$ 229.6 Mn in 2023 and is expected to exhibit a CAGR Of 6.8% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving the growth of the nutritional yeast market is rising health consciousness among consumers. With growing awareness about benefits of plant-based proteins and plant-based diet, the demand for nutritional yeast as a vegan and vegetarian alternative to dairy products is increasing significantly. Nutritional yeast contains ample amounts of vitamin B12, which is usually found in animal-based food items. Being a non-animal source of vitamin B12, nutritional yeast appeals to vegan and vegetarian populations for meeting their nutritional requirements. Moreover, some manufacturers are coming up with innovative product variants of nutritional yeast like seasoning blends, nutritional yeast flakes and spreads to increase their appeal among wider consumers. Such product innovations are further fueling the market growth.
Porter’s Analysis
Threat of new entrants: The nutritional yeast market requires significant capital investments for production facilities and brand building efforts, creating moderate barriers.
Bargaining power of buyers: The global nutritional yeast market has several established players providing substitutes, giving buyers moderate bargaining power.
Bargaining power of suppliers: Key raw materials for nutritional yeast such as citric acid and vitamins are globally available from numerous suppliers, lowering supplier bargaining power.
Threat of new substitutes: Products such as mycoprotein and textured vegetable protein are emerging as alternatives, posing a moderate threat.
Competitive rivalry: The presence of large manufacturers increases competition.
Key Takeaways
The Global Nutritional Yeast Market Demand is expected to witness high growth. The global Nutritional Yeast Market is estimated to be valued at US$ 229.6 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030.
Regional analysis:
North America is the largest nutritional yeast market. The U.S. accounts for a major share due increased health food consumption. Asia Pacific is expected to be the fastest-growing market with nations like China and India emerging as lucrative markets.
Key players:
Key players operating in the nutritional yeast market include Burley, PetEgo, Aosom, Solvit, Schwinn, InStep, Croozer, DoggyRide, Wike, Trail-a-Bike. Burley and Solvit have a significant market share due to their wide distribution networks and innovative product portfolio.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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