Yeast Extracts and Beta-Glucan Market Report, published by Allied Market Research, forecasts that the global market was valued at $642 million in 2015, and is expected to reach $1,061 million by 2022, supported by a CAGR of 7.46% during the forecast period 2016 - 2022.
The global yeast extracts and beta-glucan market is driven by factors such as rise in demand for yeast extract and beta-glucan among health-conscious consumers. In addition, increase in applications of yeast and specialty yeast products in the food & beverages industry and continuous investments in R&D for the development of new products boost the market growth. Furthermore, increase in cholesterol levels, rise in the number of obesity and diabetes cases have pushed the market of yeast extract and beta-glucans for making medicines, which are also used to boost the immune system.
The demand for yeast extract and beta-glucan products has increased due to change in eating patterns and rise in consumption of processed food coupled with high disposable income in developing countries. Moreover, increase in use of yeast extract in the processed food industry has led to spiraling increase in the number of yeast manufactures.
Factors such as, shortage of molasses and easy availability of feasible substitutes in terms of sources of raw materials have affected the sales in response to yeast extract and beta-glucan manufactures to develop differentiated products. The untapped sectors for yeast extracts applications provide ample opportunities for development.
KEY FINDINGS OFYEAST EXTRACTS AND BETA-GLUCAN MARKET :
The yeast extract segment occupied the highest share in 2015, and is expected to grow at a high CAGR of 7.53%, in terms of value, during the forecast period.
The European region is the leading market for yeast extract and beta-glucan products, followed by North America.