Nutritional yeast is a food product derived from the dehydrated form of yeast. It is considered a complete protein and nutrient supplement, as it contains vitamin B12, riboflavin, niacin, and other nutrients. It has a cheese-like, umami flavor and is commonly used as a condiment or nutritional supplement. It is primarily used in food preparations, such as toast, popcorn, casseroles, gravies, soups, and dressings. Nutritional yeast has gained popularity as a meat alternative ingredient in vegan dishes and snacks. It helps provide similar savory and nutty tastes as cheese. Furthermore, it is gaining demand as a health supplement for itsprobiotic and vitamin content. Some key uses of nutritional yeastinclude being used as a supplement for vitamin B12, which is often lacking in vegan diets, and for its probiotic properties to improve gut health. The Global Nutritional Yeast Market Size 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, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growing demand for healthy, natural, and plant-based foods is expected to drive the nutritional yeast market growth over the forecast period. Nutritional yeast is commonly associated with veganism and vegetarianism as a tasty nutritional substitute for dairy products like cheese. According to the 2020 Nutrition Business Journal report, 31% of global consumers actively seek out vegan foods and beverages. Nutritional yeast is finding increasing usage as an alternative cheese flavoring and protein source in vegan diets. Moreover, the product’s probiotic properties and dense nutritional profile promote gut and overall health. Supplementing diets with nutritional yeast is growing in popularity as a means of obtaining vitamin B12 and other essential micronutrients. Rising health consciousness and preventative healthcare approaches are making consumers more receptive to functional foods and ingredients like nutritional yeast which provide nutritional and digestive benefits.
Segment Analysis
The global nutritional yeast market is dominated by the food and beverage sub-segment. Nutritional yeast is primarily used as a seasoning ingredient in vegan cuisine owing to its cheesy and nutty flavour. It is a popular substitute for cheese in plant-based diets. The food and beverage sub-segment accounts for over 60% of the overall market share due to the high consumption of nutritional yeast in vegan foods such as mac and cheese, popcorn, gravies, sauces, and salad dressings.
PEST Analysis
Political: The tax policies and regulations on the imports and exports of nutritional yeast influence the market. Many governments provide support to vegan food producers to promote sustainable food habits.
Economic: The rising disposable incomes and growing health consciousness are increasing the demand for vegan foods and driving the nutritional yeast market growth. The market is also benefitting from the cost-effective production of nutritional yeast.
Social: The increasing number of people adopting vegan and flexitarian diets due to health, environmental and ethical concerns is propelling the nutritional yeast market. It is gaining popularity as an alternative to dairy-based seasonings.
Technological: Advancements in fermentation processes have enhanced production efficiency. New variants with additional nutritional value are being developed to expand applications in food products.
Key Takeaways
The global nutritional yeast market is expected to witness high growth at a CAGR of 8.6% during the forecast period of 2024 to 2031.
Regional analysis indicates North America currently holds the largest share owing to extensive applications in plant-based foods in the region. The market in Asia Pacific is projected to grow at the fastest pace during the forecast period with increasing health awareness.
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. The major players are focusing on new product launches catering to various cuisines to broaden their customer base.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
