Global
Yeast Extract and Beta Glucan Market: Snapshot
The
global yeast extract and beta glucan market is envisaged to win over
a mega growth on the back of an augmenting employment of cellulosic
bio-fuels and want for probiotic functional food. Additionally, on
account of surging industrialization, the demand for processed food
has soared to new heights. As a result, the market could be motivated
for more growth. However, one of the major barriers on the growth
path of the market is expected to be the paucity of a mandatory yeast
extract raw material, i.e. molasses. Nevertheless, manufacturers are
expected to keep their hopes alive with opportunities in the
processed food sector for novel solutions and various applications of
yeast extract and its derivatives.
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According
to an expert research analysis, the world yeast extract and beta
glucan market could attract a valuation of US$1.05 bn by the
concluding forecast year 2021. In 2016, the market had attained a
revenue figure of US$0.72 bn. For the forecast period 2015–2021,
the CAGR anticipated for the market is 7.6%.
Yeast
Extract Dominates Beta Glucan with Weighty Demand in Food and
Beverage
Amongst
the two products available in the global yeast extract and beta
glucan market, yeast extract is envisioned to rake in a herculean
revenue share of close to 80.0% by 2021. In the starting year of the
forecast period, the market share scenario was more or less the same,
which depicts the dominance of the yeast extract product type
segment.
Much
of the demand for yeast extract could be attributed to its broad
scope of applications in various sectors. For instance, depending on
the extraction method, it is possible to use yeast extract in the
hydrolyzed or autolyzed form with each of them having different
applications. In the personal care sector, hydrolyzed yeast extract
is utilized in the production of hair conditioning and anti-static
products. It is also used a flavoring agent in recipes. Autolyzed
yeast extract, on the other hand, could be engaged as an inexpensive
alternative to monosodium glutamate (MSG).
While
yeast extracts may not be used as flavor enhancers, they find
extensive usage as ingredients in the food and beverage sector.
Functional foods and drinks, baked and frozen products, ready-to-eat
meals, snacks, soups, and sauces all use yeast extracts at a
significant rate.
Europe
and Rest of the Word Surrender Share to Asia Pacific and North
America
Riding
on primary contributors such as Thailand, Japan, South Korea, India,
and China, Asia Pacific is prophesied to make the cut in the
international yeast
extract and beta glucan market alongside North America. Both
the regional markets could secure as good as a 50.0% share by the end
of the forecast period. Europe is prognosticated to be crowned as a
single leading market share holder throughout the forecast years. The
demand in these regions could be due to the use of yeast extract and
beta glucan in the preparation of dairy products, alcoholic
beverages, and medicines. There is a rising demand predicted to take
precedence in the baking and brewing sector.
An
interesting part pointed out by this geographical analysis is the
trend of Europe and Rest of the World losing their shares to the
promisingly growing markets of Asia Pacific and North America by
2021. By application, the bakery and processed food segment is
projected to be valued at a higher revenue in Asia Pacific.
Preference for convenience food products, swelling population size,
changing food habits, and elevating disposable income are some of the
factors influencing the growth of Asia Pacific.
