According to a new report by Meticulous Research®, the yeast extract market is projected to reach $2.92 billion by 2031, growing at a CAGR of 6.8% from 2024. The market’s expansion is attributed to rising demand for bakery products, a growing number of vegans and vegetarians, and increased alcoholic beverage consumption.
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Growth Factors
The growth of the yeast extract market is driven by several key factors, including the increasing popularity of bakery products and the rise in plant-based diets. However, the market may face constraints due to the availability of substitutes and fluctuations in raw material costs.
Growth Opportunities
There are substantial growth opportunities in the yeast extract market, particularly with the increasing preference for natural ingredients and plant-based alternatives. Companies can leverage these opportunities by focusing on innovative solutions and addressing production and regulatory challenges.
Consumer Trends and Market Shifts
The yeast extract market is experiencing a shift towards clean-label products and greater health awareness among consumers. These trends are shaping market dynamics and driving demand for natural and plant-based yeast extracts.
