The Middle East and Africa yeast extract market is expected to reach US$ 150.2 million in 2027 from US$ 101.5 million in 2019. The market is estimated to grow at a CAGR of 5.0% from 2020 to 2027.
The growth the Middle East and Africa yeast extract market is attributed to the key driving factors such as the rising demand for natural ingredients in the food & beverages industry and the launch of new products. However, the availability of yeast extract substitutes hinders the market growth.
The established and emerging players operating in the yeast extract market are commercializing novel yeast extract products for end users from the food & beverages and cosmetics industries, and bakeries. For instance, in June 2017, Ohly launched high-efficiency SAV-R-FULL yeast extract, which is a completely soluble and natural product that imparts powerful flavors, tastes (umami and salty), and aroma. Furthermore, in July 2019, Nexira, a natural ingredients supplier, introduced Immunell that combines natural yeast extract and prebiotic acacia fiber.
The market players are also expanding their existing portfolios with the launch of additional yeast extract products for new applications. For instance, in November 2019, DSM introduced Fresh XL and BakeZyme Master to expand its BakeZyme portfolio with the introduction of new solutions. These solutions are developed to overcome the challenges related to retaining the freshness of foodstuff; they can be added as ingredients in the production of high-quality baked goods such as tortilla wraps and sandwiches that have long-lasting and improved sensory properties. Thus, the launch of new and innovative products by existing and emerging market players is fueling the growth of the Middle East and Africa yeast extract market.
Countries in the Middle East and Africa such as Saudi Arabia and the UAE are highly affected due to the COVID-19 outbreak. The increasing numbers of COVID-19 positive cases are becoming threats to their respective countries. The countries are facing economic crises, which is adversely affecting various sectors, such as consumer goods and food & beverages sectors. The lockdown in various countries and limitations on transport declined the sales of food and beverages across the region. However, there was an increase in the retail sales of food and beverages due to the rising adoption of work from home culture. This led to compensation of the loss in the industrial food and beverages sector to a certain extent in the region. Also, there was an increase in the demand for packaged and ready-to-cook meals, in which, yeast extract is a key ingredient. Thus, there was a slowdown in the manufacturing due to COVID-19 outbreak, however the pandemic did not lead to a massive loss in terms of sales and growth of yeast extract market.
Based on technology, the Middle East and Africa yeast extract market is bifurcated into autolyzed and hydrolyzed. The autolyzed segment held a larger market share in 2019, whereas the hydrolyzed segment is anticipated to register a higher CAGR in the market during the forecast period.
Based on form, the Middle East and Africa yeast extract market is segmented into powder, paste, and liquid. The powder segment held the largest market share in 2019, also the same segment is anticipated to register the highest CAGR in the market during 2020-2027.
Based on application, the Middle East and Africa yeast extract market is segmented into food and beverages, animal feed, pharmaceuticals, and others. The food and beverages segment held the largest market share in 2019, whereas the animal feed segment is anticipated to register the highest CAGR in the market during the forecast period.
A few of the primary and secondary sources referred to while preparing the report on the Middle East and Africa yeast extract market are the Beer Association of South Africa and Angel Yeast Co., Ltd.
The growth the Middle East and Africa yeast extract market is attributed to the key driving factors such as the rising demand for natural ingredients in the food & beverages industry and the launch of new products. However, the availability of yeast extract substitutes hinders the market growth.
The established and emerging players operating in the yeast extract market are commercializing novel yeast extract products for end users from the food & beverages and cosmetics industries, and bakeries. For instance, in June 2017, Ohly launched high-efficiency SAV-R-FULL yeast extract, which is a completely soluble and natural product that imparts powerful flavors, tastes (umami and salty), and aroma. Furthermore, in July 2019, Nexira, a natural ingredients supplier, introduced Immunell that combines natural yeast extract and prebiotic acacia fiber.
The market players are also expanding their existing portfolios with the launch of additional yeast extract products for new applications. For instance, in November 2019, DSM introduced Fresh XL and BakeZyme Master to expand its BakeZyme portfolio with the introduction of new solutions. These solutions are developed to overcome the challenges related to retaining the freshness of foodstuff; they can be added as ingredients in the production of high-quality baked goods such as tortilla wraps and sandwiches that have long-lasting and improved sensory properties. Thus, the launch of new and innovative products by existing and emerging market players is fueling the growth of the Middle East and Africa yeast extract market.
Countries in the Middle East and Africa such as Saudi Arabia and the UAE are highly affected due to the COVID-19 outbreak. The increasing numbers of COVID-19 positive cases are becoming threats to their respective countries. The countries are facing economic crises, which is adversely affecting various sectors, such as consumer goods and food & beverages sectors. The lockdown in various countries and limitations on transport declined the sales of food and beverages across the region. However, there was an increase in the retail sales of food and beverages due to the rising adoption of work from home culture. This led to compensation of the loss in the industrial food and beverages sector to a certain extent in the region. Also, there was an increase in the demand for packaged and ready-to-cook meals, in which, yeast extract is a key ingredient. Thus, there was a slowdown in the manufacturing due to COVID-19 outbreak, however the pandemic did not lead to a massive loss in terms of sales and growth of yeast extract market.
Based on technology, the Middle East and Africa yeast extract market is bifurcated into autolyzed and hydrolyzed. The autolyzed segment held a larger market share in 2019, whereas the hydrolyzed segment is anticipated to register a higher CAGR in the market during the forecast period.
Based on form, the Middle East and Africa yeast extract market is segmented into powder, paste, and liquid. The powder segment held the largest market share in 2019, also the same segment is anticipated to register the highest CAGR in the market during 2020-2027.
Based on application, the Middle East and Africa yeast extract market is segmented into food and beverages, animal feed, pharmaceuticals, and others. The food and beverages segment held the largest market share in 2019, whereas the animal feed segment is anticipated to register the highest CAGR in the market during the forecast period.
A few of the primary and secondary sources referred to while preparing the report on the Middle East and Africa yeast extract market are the Beer Association of South Africa and Angel Yeast Co., Ltd.
Table of Contents
1. Introduction
3. Research Methodology
4. Middle East and Africa Yeast Extract Market - Market Landscape
5. Middle East and Africa Yeast Extract Market - Key Market Dynamics
6. Yeast Extract Market - Middle East and Africa Analysis
7. Middle East and Africa Yeast Extract Market Analysis and Forecasts To 2027 - By Technology
8. Middle East and Africa Yeast Extract Market Analysis and Forecasts to 2027- By Form
9. Middle East and Africa Yeast Extract Market Analysis and Forecasts to 2027- By Application
10. Yeast Extract Market Revenue and Forecasts to 2027 - Geographical Analysis
11. Impact Of COVID-19 Pandemic on Middle East and Africa Yeast Extract Market
12. Industry Landscape
13. COMPANY PROFILES
14. Appendix
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Kerry Group
- Angel Yeast Co., Ltd.
- DSM
- LALLEMAND, INC.
- Ohly
- Lesaffre
- LEVEX
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 149 |
Published | April 2021 |
Forecast Period | 2019 - 2027 |
Estimated Market Value ( USD | $ 101.5 Million |
Forecasted Market Value ( USD | $ 150.2 Million |
Compound Annual Growth Rate | 5.0% |
Regions Covered | Africa, Middle East |