Nutritional Yeast Market Exhibiting an Impressive CAGR of ~14% by 2029 | FMI Report

Set to cross the billion-dollar mark by 2029, global nutritional yeast market will witness an astounding CAGR of 14% over the course of forecast period (2019 – 2029). Increasing incorporation of nutritional yeast in various end-use industries such as personal care, animal feed, dietary supplements, and food & beverages will remain a key booster to market growth, as suggested by a new Future Market Insights (FMI) report.

“Salt-free and gluten-free attributes of nutritional yeast are inflating the profit pool of manufacturers, worldwide. Sales of nutritional yeast will soar steadily through 2029 in view of rising preference amongst vegan, health-conscious, and geriatric population,” concludes the FMI study.

Key Takeaways of Nutritional Yeast Market Study

Inactive dry yeast holds the prominent share in nutritional yeast market owing to its usage in animal feed industry.Food & beverages industry continues to generate prodigious demand for nutritional yeast, accounting for 40% share.Consumers will continue to prefer powdered form of yeast through the forecast period.Conventional nutritional yeast holds a majority of share; its organic counterpart will witness a noteworthy CAGR.Developing countries are at the forefront of nutritional yeast market, owing to greater prevalence of nutritional deficiencies.

Nutritional Yeast Market – Top Growth Drivers

Soaring demand for organic nutritional yeast is driving the market.Increasing usage of yeast in personal care products is a major growth contributor.The expanding vegan population prefers nutritional yeast as plant-based protein source, thereby fueling the market growth.Greater inclination of consumers towards healthier lifestyle is driving the nutritional yeast market.

Nutritional Yeast Market – Key Restraints

Stringent government regulations imposed on organic yeast production continue to restrain market growth.Production costs associated with organic yeast results in lesser yields as compared to their conventional counterparts.

Competition Landscape of Nutritional Yeast Market

Some of the leading players profiled in this report include, but are not limited to, NOW Foods, Bioforce Canada Inc., Alltech, Yeast Company Ltd., Quantum Nutrition Labs, and Lallemand Inc. Business acquisition is the chief strategy being followed by key players in nutritional yeast market. Market leaders are channeling their resources towards expanding their product portfolio, market foothold and gaining competitive advantage. For instance, Lesaffre expanded its production capacity in Serbia’s nutrition and health market by acquiring Alltech’s yeast extraction facility in 2018. On the other hand, Lallemand Inc. bolstered its R&D activities by acquiring Lage y Cía. This business acquisition allowed Lallemand Inc. to foster product offerings in yeast-based biofertilizer, biostimulant and biocontrol agents.

Press Release Source: https://www.accesswire.com/576808/Nutritional-Yeast-Market-Set-to-Surpass-Billion-dollar-Value-by-2029-Inactive-Dried-Yeast-Highly-Preferred-in-Animal-Feed-Finds-Future-Market-Insights

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