The global Yeast Based Spreads Market is set to experience steady acceleration at a 4.7% CAGR is likely to accelerate the market between 2023 and 2033.
Brewer’s yeast is used to make spreads such as Marmite and Vegemite. These savoury spreads are high in B vitamins and have a savoury flavour. Australia now leads the global market for yeast-based spreads due to the existence of significant players such as Vegemite, AussieMite, and Promite. Consumption of yeast-based spreads is expanding in Australia, which is expected to attract new manufacturers.
The market in the United Kingdom has significant growth potential in the next years as well. Unilever, the company that makes Marmite, is promoting the growing popularity of yeast-based spreads in the United Kingdom. In recent years, players have been laser-focused on producing new and inventive goods.
Another major factor fueling the global use of yeast-based spreads is the increasing popularity of vegetarianism and veganism. As more people throughout the world become vegetarian or vegan, the market for yeast-based spreads is expected to rise.
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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 Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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