April 4, 2020

Nutritional Yeast Market is anticipated to grow with a CAGR of 9.5%

According to a new market report published by Credence Research, Inc., “the global market for nutritional yeast is expected to grow by 9.5 per cent CAGR during the forecast period from 2019 to 2027.”

Product Insights

The global market for nutritional yeast is expected to grow enormously, with a CAGR of 9.5 per cent during the forecast period from 2019 to 2027. Nutritional yeast is in demand due to its sugar-free and fat-free properties and low sodium content. Growing demand for vegan products and increasing health awareness among millennials is one of the key factors for the increasing demand for nutritional yeast. Nutritional yeast is an inactive yeast that does not stimulate the growth of yeast. Nutritional yeast is the best substitute for cheese and meat among vegans. It is a good source of vitamin B-12, which is found only in meat products, thus gaining popularity among vegans. In addition, increasing awareness of the various diseases caused by meat products is one of the key factors in the growth of the nutritional yeast market worldwide.

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The market for nutritional yeasts is segmented by type, application and geography. Due to the increasing demand for cheese substitutes without any animal fats and calories, nutritional yeast flakes grow considerably depending on the type. In addition, manufacturers are increasing their portfolio to provide more nutritional yeast flakes on the market, thereby increasing the demand for nutritional yeast products. For example, Marigold, a brand of Natural Superfood, announced in November 2017 that it would expand its product portfolio to the UK market. Marigold has launched Super Engevita Flakes, produced from plant-based products. The aim of the launch of Super Engevita Flakes is to provide a wide range of vegan products for baking. Moreover, based on geography, the market for nutritional yeast was dominated by North America in 2018. In North America, the U.S. is leading the market for nutritional yeast. Due to the presence, among others, of major players such as Ohly, Pacific Ethanol and Biomin. In addition, the demand for nutritional yeast is rising in North America due to an increase in vitamin B deficiency in the North American region. For example, according to the 2012 National Report of the Centers for Disease Control (CDC), B6 is the most deficient vitamin among people living in the U.S., and nutritional yeast contains high vitamin B concentrations, which is one of the key reasons for increasing the demand for nutritional yeast products in North America.

Competitive Insights:

Major players identified in the market for nutritional yeast include Lesaffre, Lallemand Inc., Archer Daniels Midland Company, AngelYeast Co. Ltd., Ohly, Pacific Ethanol, Inc., Biomin, Bob’s Red Mill Natural Food, Bragg Premium, Urban Platter and Simply Organic, among others. Manufacturers focus on strategies such as partnership, expansion and collaboration. Lallemand, for example, collaborated with Shanghai Toong Yeuan Food Tech Ltd in 2018. The collaboration aims to showcase Lalmin and Engevita nutritional yeast flakes at the Shanghai National Exhibition and Convention Centre.

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