The
global yeast extract and beta glucan market could be bolstered by the
presence of robust distribution channels, according a report by
Transparency Market Research (TMR). Several distribution channels
have been anticipated to win the attention of leading players
operating in the market. Sainsbury’s, Carrefour, Walmart, and other
mammoth retailers could select superstores and retail chains to sell
yeast extract. However, the British Food Depot and giant online
stores such as Amazon have been predicted to be other profitable
means of selling yeast extract.
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A
number of developed markets could witness the supremacy of
convenience stores, supermarkets, and online stores until the end of
2021. Nonetheless, direct distribution channel has been envisaged to
be among the favorites of companies such as Chr. Hansen A/S that vend
yeast extract to laboratories cultivating microbes and
biopharmaceutical sectors.
TMR
has projected the global yeast extract and beta glucan market to bag
a revenue of US$1.05 bn by 2021 from a US$0.72 bn in 2016 at a CAGR
of 7.6% between 2015 and 2021. Throughout the forecast horizon, yeast
extract could attract a handsome demand while expanding at a quicker
CAGR of 7.8% while tapping into the lucrative food and beverages
sector. Although Europe could be a larger regional market, it has
been expected to lose share to the more promising North America and
Asia Pacific regions.
Growth
of Processed Food Supported by Vast Urbanization Swells Demand
The
authors of the report have foreseen the world
yeast extract and beta glucan market to testify a growing
demand on the back of the rise of processed food. This could be due
to the augmenting level of urbanization in key regional markets. The
growth of the market has been envisioned to be furthered by the
propelling attractiveness of probiotic functional food among
consumers and widespread engagement of cellulosic bio-fuels.
A
wide and varying scope of applications including cosmetics,
bio-fuels, and animal feed, pharmaceuticals, beverages, dairy and
functional food products, and bakery and processed food could be
vital for vendors to take advantage of. Amongst these, cosmetics,
bio-fuels, and animal feed have been foretold to testify a surging
growth in the coming years. Nevertheless, the world yeast extract and
beta glucan market could see the enduring dominance of bakery and
processed food until the concluding forecast year.
Yeast
extract could find a widespread application in the food and beverages
sector as an ingredient. The usage of yeast extract has been analyzed
to increase at a telling rate in various products such as sauces,
soups, snacks, ready-to-eat repasts, baked and frozen products, and
functional foods and drinks.
Dearth
of Mandatory Raw Material Cuts Back Growth
The
scarcity of molasses, which is studied to be an imperative raw
material for yeast extract, has been forecasted to hamper the growth
of the worldwide yeast extract and beta glucan market. Having that
mentioned, the analysts have prophesied sufficient growth
opportunities to be fleshed out in the market. Several new solutions
in the processed food sector could be birthed with the employment of
yeast extract and yeast beta glucan. Untapped verticals such as
dietary supplements and medicines could also offer ample of prospects
in future, considering the wide-ranging applications of yeast extract
and its derivatives.
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