The global yeast based spreads market is expected to reach a market valuation of US$ 449.5 million in 2023. A slow but steady CAGR of 4.7% is likely to accelerate the market between 2023 and 2033. In 2033, a US$ 711.0 million is anticipated for the market.
Yeast based spreads are a type of food product that is made from yeast dough or batter. They are used as edible additives to improve the flavors and textures of food products. Yeast based spreads are used across a wide variety of applications, including snacks, bakery products, and condiments.
Key Companies Profiled:
All Natural Foods of Stirling, AussieMite, Bega Cheese, Jardox Ltd., Marmite, Marmite (New Zealand), Mars Foods,Nature’s Blend, Sanitarium Health & Wellbeing, Three Threes Condiments Pty. Ltd., Unilever Plc., Vitam-R., etc.
Key Countries Covered:
The United States, Canada, Brazil, Mexico, Argentina, Rest of Latin America, Germany, Italy, France, the United Kingdom, Spain, BENELUX, Nordic, Russia, Poland, Rest of Europe, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Singapore, Rest of South Asia, Australia, New Zealand, GCC Countries, South Africa, North Africa, Rest Of Middle East and Asia, etc..
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Why are Sales of Organic Yeast Surging in Yeast Based Spreads Market?
Organic Yeast Based Spreads to Register Substantial Sales Owing to Absence of Artificial Ingredients and Presence of Essential Nutrients
Organic yeast based spreads are soy and GMO-free, rich in vitamins and minerals, and low in sodium. Chemicals, additives, and artificial flavors are typically absent in spreads containing organic yeast, making them healthy food accompaniments. The absence of artificial ingredients reduces the possibility of side effects post-consumption.
Compared to organic yeast, conventional yeast has high sugar content owing to its production from sources such as saccharose, glucose syrup, cane molasses, and beet molasses. Conventional yeast also contains ammonia along with synthetic minerals and vitamins.
As a result, conventional yeast’s health benefits are likely to be limited in comparison with the advantages of organic yeast consumption. Also, the presence of ammonia and synthetic minerals and vitamins may trigger side effects in consumers with food sensitivities. Future Market Insights (FMI) anticipates organic yeast sales to outperform conventional yeast sales in the coming years.
Country Wise Analysis
What Does the Future Hold for Australia Market for Yeast Based Spreads?
Popularity of Yeast Based Spreads across Australia to Provide Boost to Country’s Market
FMI expects Australia market for yeast based spreads to hold a significant share in the global industry between 2023 and 2033. In Australia, consumption of yeast based spreads has gained substantial traction in recent years. This rise in consumption can be attributed to the strong presence of prominent Australian players such as AussieMite, Promite, and Vegemite. The efforts of these companies in promoting their products along with their health benefits have gone a long way towards encouraging the Australian population to consume yeast based spreads regularly.
However, despite the promise of expansion that Australia market for yeast based spreads holds, competition is poised to be stiff. As prominent players have already cemented their positions in the market, emerging companies need to focus on product differentiation. Without product differentiation, emerging players are likely to find market penetration difficult in Australia.
What will be the Demand Outlook for Yeast Based Spreads in the USA?
Growing Veganism and Vegetarianism in the United States to Fuel Yeast Based Spreads Demand
According to FMI, the United States market for yeast based spreads is set to emerge as a dominant market in North America between 2023 and 2033. While yeast based spreads are not as popular in the United States compared to their popularity in Australia, they are certainly finding increasing favor among consumers.
Over the last decade, health conscious eating practices have increased significantly among the country’s consumers. It is also home to a substantial vegan population.
According to a report published by Alliance For Science in March 2022, 1 in 10 citizens of the United States are either vegetarian or vegan. FMI anticipates this ratio to rise in the favor of vegetarians and vegans in the United States in the years ahead. In the long run, this likely scenario is poised to boost the acceleration of the United States market for yeast based spreads.
Will the United Kingdom Emerge as the Most Lucrative Market for Yeast Based Spreads?
Veganism’s Burgeoning Popularity in the United Kingdom to Surge Sales of Yeast Based Spreads
The United Kingdom market for yeast based spreads has been observed by FMI as highly lucrative. The acceptance of yeast based spreads in the United Kingdom has been similar to the market scenario in Australia. This is due to the efforts of prominent players in the country like Unilever, which offers Marmite, a product similar to the likes of AussieMite and Vegemite.
Between 2023 and 2033, sales of yeast based spreads are set to skyrocket in the United Kingdom owing to a growing preference for plant-based diets among the country’s population. According to a 2021 YouGov survey, 8% of participants revealed that they had already shifted to plant-based diets. FMI expects more consumers in the United Kingdom to turn to either veganism or vegetarianism from 2023 to 2033. This should generate significant demand for yeast based spreads.
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Category wise Insights
Why are Sales of Marmite Yeast Based Spreads Surging Worldwide?
Marmite Sales to Dominate Global Market for Yeast Based Spreads Due to Unilever’s Marketing Efforts
FMI expects Marmite to be the most dominant product type in terms of demand and sales between 2023 and 2033. Unilever, the firm that makes Marmite, is headquartered in the United Kingdom and is among the prominent participants in the market for spreads made with yeast.
In recent years, Unilever’s marketing efforts have reaped rewards in terms of increasing awareness of Marmite among consumers worldwide. Even though it is anticipated that the Marmite’s market share would fall from 39.4% (2021) to 36.3% (2031), it is still slated to dominate the global industry for yeast based spreads.
Which Type of Yeast Based Spread Will Remain Highly Sought-After?
Organic Yeast Based Spreads Demand to Soar as Conventional Variants Come with Side-Effect Risks
Based on FMI research, the organic segment of yeast based spreads is set to dominate global demand and sales. The segment is poised to accelerate at an impressive 10% CAGR between 2023 and 2033. Organic yeast based spreads are finding more favor among consumers worldwide compared to conventional variants. This is due to the fact that consumers are striving to eat organic products for maintaining health and well-being and steering clear of inorganic foods due to the associated risks of side effects.
The only stumbling block that the organic segment is likely to encounter is consumers’ limited purchasing power, especially in developing economies. Producing organic yeast based spreads is more expensive compared to the production of conventional variants. In the years to come, players are likely to invest in research & development to find out ways of making organic yeast based spreads more affordable.
Which is the Leading Industry for Yeast Based Spreads?
Hypermarkets and Supermarkets Segment to Generate Maximum Revenue for Yeast Based Spreads
The hypermarkets/supermarkets segment is likely to generate substantial yeast based spreads sales. This is due to the fact that displaying products is more convenient in hypermarket/supermarkets compared to online sales channels. Consumers are also free to pick up the products and inspect their lists of ingredients prior to purchase for buying goods that they specifically want.
However, this does not mean that online sales of yeast based spreads will stall. In recent years, the conveniences provided by online sales channels in terms of payment flexibility and home delivery have been immense. In the coming years, FMI expects online sales channels to offer more purchasing conveniences to consumers. This is likely to fuel online yeast based spreads sales between 2023 and 2033.
Competitive Landscape
In competitive markets such as the United Kingdom and Australia, players are likely to step up their marketing efforts for increasing their chances of product penetration. Research & development is also poised to take center stage as players aim to enhance existing products and offer them at affordable prices.
For instance:
- In May 2022, Marmite announced the launch of a new truffle flavored yeast based spread in collaboration with adam&eveDDB.
- In February 2022, Vegemite announced the relaunch of its popular Vegemite Cheesymite product. The new avatar of the product was named Vegemite & Cheese.
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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
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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