The Global Nutritional Yeast Market Growth Accelerated By Rising Health Consciousness

Nutritional yeast is a rich source of vitamins such as vitamin B12 along with minerals like zinc and copper. It is widely used as a nutritional supplement and food additive owing to its nutty, cheesy taste and high protein content. The growing demand for clean label and organic ingredients along with increasing vegan population have propelled the demand for nutritional yeast around the world.

The global Nutritional Yeast Market is estimated to be valued at Us$ 229.6 Mn in 2023 and is expected to exhibit a CAGR Of 6.8% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One key trend driving the growth of the nutritional yeast market is rising health consciousness among individuals. People are increasingly focusing on adopting healthier dietary habits and lifestyles. Nutritional yeast is considered extremely beneficial due to its high nutritional value. It is high in protein, vitamins and minerals and does not contain any gluten or cholesterol. Therefore, nutritional yeast is widely used as a replacement for dairy products to fulfill daily protein and nutrient requirements. This rising focus on health and wellness has significantly propelled the demand for nutritional yeast globally over the past few years. Innovation and product launches catering to the evolving consumer preferences are expected to offer lucrative opportunities in the nutritional yeast market during the forecast period.

Segment Analysis

The global nutritional yeast market is dominated by the food and beverage sub-segment. Nutritional yeast plays an essential role as food ingredients and additives for food and beverage manufacturers. It helps in enhancing flavors and adds nutritional value to products. Due to this, the food and beverage sub-segment accounts for over 60% of the market share. The increasing demand for plant-based and vegan foods has also contributed to nutritional yeast's popularity as an ingredient among food and beverage manufacturers.

Key Takeaways

The Global Nutritional Yeast Market Demand is expected to witness high growth over the forecast period due to the rising demand for plant-based foods and increasing awareness about the health benefits of nutritional yeast. The global Nutritional Yeast Market is estimated to be valued at US$ 229.6 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030.

Regional analysis:

North America dominates the global nutritional yeast market and is expected to continue its dominance over the forecast period. Rising vegan and vegetarian populations in countries like the US and Canada are driving the demand for nutritional yeast in the region. Asia Pacific is projected to be the fastest-growing regional market owing to changing lifestyles and dietary habits in emerging economies like India and China.

Key players:

Key players operating in the nutritional yeast market include Burley, PetEgo, Aosom, Solvit, Schwinn, InStep, Croozer, DoggyRide, Wike, Trail-a-Bike. Burley is a leading producer of nutritional yeast globally. PetEgo, Aosom and Solvit are other brands focusing on the pet food ingredients segment.

The global nutritional yeast market is consolidated in nature with top players accounting for over half of the total market share. Players are focusing on capacity expansion and new product launches to strengthen their foothold in the global market.

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