Between 2023 and 2033, the global Yeast Based Spreads Market is set to experience steady acceleration at a 4.7% CAGR
Spreads like Marmite and Vegemite are made from residual brewer’s yeast. These spreads have savoury flavours and are high in B vitamins. Because of the presence of notable players such as Vegemite, AussieMite, and Promite, Australia currently leads the global market for yeast-based spreads. Consumption of yeast-based spreads is increasing in Australia, which is expected to attract additional manufacturers to enter the market.
The market in the United Kingdom has enormous potential for growth in the next years as well. The rising popularity of yeast-based spreads in the United Kingdom is being fostered by multinational conglomerate Unilever, which manufactures Marmite. Players have been laser-focused on developing new and creative items in recent years.
Another key factor driving the consumption of yeast based spreads worldwide is the rising prevalence of vegetarianism and veganism. As more consumers become vegetarian and vegan around the world, yeast based spreads demand is sure to register an upward surge.
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Research has also revealed that yeast based spreads’ high B vitamin content can be effective in easing symptoms of mental health conditions such as depression and anxiety. Over the last few years, discussions and debates surrounding mental health have surged globally. Future Market Insights (FMI) expects these trends to gather further momentum in the years ahead. This should provide lucrative opportunities for players in the global market for yeast based spreads.
Key Takeaways from the Yeast Based Spreads Market Study:
- In 2023, FMI expects the global market for yeast based spreads to register a valuation of US$ 449.5 million.
- Between 2023 and 2033, the global market is set to experience steady acceleration at a 7% CAGR.
- The valuation of the global market is likely to surpass the US$ 711.0 million mark in 2023.
- From 2018 to 2022, FMI observed a 8% CAGR acceleration for the global market.
- Australia and the United Kingdom are likely to dominate the global market going ahead and capture significant shares.
- By product type, FMI expects Marmite to generate substantial demand and sales between 2023 and 2033.
- Spreads containing organic yeast are set to register more sales compared to spreads containing conventional yeast.
“Organic yeast based spreads, despite their significant sales potential between 2023 and 2033, are expensive for consumers in developing economies. In the years ahead, manufacturers are likely to make substantial investments in research & development to find out ways of making organic yeast based spreads for accessible for consumers worldwide.” – Says an FMI Analyst
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Who is Winning?
Players in the global market for yeast based spreads are likely to prioritize promotional strategies and new product launches between 2023 and 2033. Social media marketing efforts are also set to gather momentum as players focus on making consumers aware of the health benefits of yeast based spreads.
Key players in the yeast based spreads market include All Natural Foods of Stirling , AussieMite, Bega Cheese, Jardox Ltd, Marmite (New Zealand), Mars Foods, Nature’s Blend, Sanitarium Health & Wellbeing, Three Threes Condiments Pty. Ltd., Unilever Plc. and Vitam-R.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the global yeast based spreads market, presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033. The study divulges compelling insights on the yeast based spreads market based on product type (Aussiemite, Cenovis, Marmite, Marmite (New Zealand), Oxo (food), Promite, Vegemite, Vitam-R), nature (organic, non-GMO, conventional), end-use (food services, hotels, restaurants, cafes, business to consumers), and claims (vegan, vegetarian, gluten-free, dairy-free, halal, natural, kosher, fat-free) across seven regions.
About the Food & Beverage Division at Future Market Insights
The food & beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
Global Yeast Based Spreads Market by Category
By Product Type:
- Aussiemite
- Cenovis
- Marmite
- Oxo
- Promite
- Vegemite
- Vitam-R
By Nature:
- Organic
- Non-GMO
- Conventional
By End Use:
- Food Services
- Hotels
- Restaurants
- Cafes
- Business to Consumers
- Hypermarkets/Supermarkets
- Convenience Stores
- Discount Stores
- Mom & Pop Stores
- Online Retail Platforms
Claims:
- Vegan
- Vegetarian
- Gluten-Free
- Dairy-Free
- Halal
- Natural
- Kosher
- Fat-Free
About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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