The yeast extract market is set to grow to $2.92 billion by 2031, with a CAGR of 6.8% from 2024 to 2031. Rising demand for bakery items, increasing veganism, higher consumption of alcoholic beverages, and efforts to reduce salt intake are key drivers of this growth. However, challenges such as raw material price fluctuations and the availability of substitutes could limit market expansion.

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Natural Ingredients and Plant-Based Products Offer Growth Potential
One of the key growth drivers in the yeast extract market is the increasing demand for natural ingredients and plant-based food alternatives. As consumers gravitate toward healthier, more natural products, the demand for yeast extract continues to rise. Although the market faces challenges such as high initial production costs and strict regulations, the push towards clean-label products presents promising opportunities.

Key Players in the Market
Several global and regional players operate in the yeast extract market. Among the key companies are Lesaffre (France), AngelYeast Co., Ltd. (China), and Kerry Group plc (Ireland). These companies, along with others, contribute to a moderately competitive market environment, driving innovation and supporting the growth of the yeast extract industry.

Autolyzed Yeast Extract Dominates Market
Autolyzed yeast extract is projected to hold the largest share of the market in 2024, accounting for over 62%. This yeast extract type is commonly used in the food industry for its savory flavor-enhancing properties. The autolysis process, where yeast breaks down using its own enzymes, is simple and produces consistently high-quality flavors, making it a popular choice among food manufacturers.

Food and Beverage Sector Leads in Applications
In 2024, the food and beverage sector is expected to hold the largest share of the yeast extract market at 36.7%. This segment's growth is fueled by the increasing popularity of processed foods, dairy substitutes, and plant-based diets. Additionally, the growing trend toward clean-label products and natural ingredients is driving demand for yeast extract in this sector.

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