The global nutritional yeast market has seen tremendous growth over the past few years driven by the increased demand for healthy and vegan foods. Nutritional yeast is highly rich in vitamins like B1, B2, B3, B6 and folic acid as well as contains high levels of protein. It is widely used as a dietary supplement and also to substitute cheese flavor for vegan consumers.
Nutritional yeast has become a popular vegan substitute for cheese powder and seasoning. Its pleasant cheesy and nutty flavor works well in sauces, dips, popcorn and casseroles. It contains no mercury, is low in sodium and does not interact negatively with medications. Given the numerous health benefits, along with vegan-friendly nature, nutritional yeast demand has boomed in bakery products, packaged foods and other foodservice applications. Food trends like keto and paleo have further spiked nutritional yeast adoption worldwide.
The Global Nutritional Yeast Market is estimated to be valued at US$ 264.5 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the nutritional yeast market are Capgemini, Tata Consultancy Services Limited, HCL Technologies Limited, Fujitsu, Sensiple, Nityo Infotech, Locuz, CtrlS Datacenters Ltd, Cybage Software Pvt. Ltd, Sensible, and Cerebra Integrated Technologies Ltd. These companies are focusing on production capacity expansion, new product launches and collaborations to cater to the increasing demand globally.
The growing demand from the food and beverage industry for vegan, gluten-free and healthier ingredient options has propelled the Nutritional Yeast Market Growth substantially. Usage of nutritional yeast as a seasoning, condiment and supplement has increased manifold over the past few years. Its robust nutrient profile and low-calorie nature attract health-conscious consumers immensely.
Nutritional yeast market is expanding at a global level with companies focusing on strengthening their regional presence. APAC and Europe hold major shares of the nutritional yeast market currently due to rising vegan consumer bases. North America is a prominent region as well owing to busy lifestyles leading to higher nutritional yeast consumption through supplement forms in the region.
Market key trends
The increased health and wellness trends followed by demand for plant-based foods are major drivers boosting the nutritional yeast market currently. With growing preference for clean label, organic and non-GMO ingredients, manufacturers have enhanced their nutritional yeast offerings catering to evolving consumer needs. The growth in the functional food and beverage categories has also augmented nutritional yeast usage in new product formulations promising health benefits.
Porter’s Analysis
Threat of new entrants: New players find it difficult to obtain resources and gain brand recognition in this market.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes.
Bargaining power of suppliers: A few large suppliers exist in this market so their bargaining power is high.
Threat of new substitutes: Substitutes like probiotics pose threat to nutritional yeast.
Competitive rivalry: Intense competition exists among existing players.
Geographical regions
North America accounts for the largest share in the nutritional yeast market in terms of value due to high health awareness.
Asia Pacific is expected to witness fastest growth during the forecast period supported by rising middle class population with increasing health consciousness in countries like China and India.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it