The global yeast extract market is projected to hit $2.92 billion by 2031, growing at a CAGR of 6.8% from 2024 to 2031. This expansion is driven by increasing demand for bakery products, a rise in vegan and vegetarian populations, higher consumption of alcoholic beverages, and a trend towards reduced salt intake. However, the market may face challenges due to high availability of substitutes and fluctuations in raw material prices.

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Natural ingredients and plant-based food alternatives are significant growth drivers, presenting ample opportunities for stakeholders. They play a crucial role in addressing challenges such as high production costs and strict regulatory processes.

The market is shifting towards clean-label products and increasing health consciousness, which are influencing consumer preferences. Key players in the market include Lesaffre, Kerry Group, AngelYeast, and others across various regions.

Market segmentation includes autolyzed and hydrolyzed yeast extracts, with the autolyzed segment holding a larger share due to its simpler production process and flavor consistency. Baker's yeast is the dominant source due to its nutritional benefits and widespread availability. The powder form leads in market share because of its convenience for use in food products. The food and beverages segment are the largest application area, driven by the popularity of processed and plant-based foods.
Geographically, Europe is expected to dominate the market with over 29.8% share, influenced by rising demand for processed and plant-based foods.

Key Players:
The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last three to four years. Some of the key players operating in the yeast extract market are Lesaffre (France), Kerry Group plc (Ireland), AngelYeast Co., Ltd. (China), Leiber GmbH (Germany), Lallemand Inc. (Canada), Synergy Flavors, Inc (U.S.), Thai Foods International Co., Ltd. (Thailand), Thai Foods International Co., Ltd. (Thailand), Halcyon Proteins Pty Ltd. (Australia), Alltech Inc (U.S.), Ohly GmbH (Germany), KOHJIN Life Sciences Co., Ltd. (Japan), Sensient Technologies Corporation (U.S.), Oriental Yeast Co., Ltd. (Japan), Kothari Fermentation and Biochem Ltd. (India), Koninklijke DSM N.V. (Netherlands), and Novozymes A/S (Denmark).

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