The global yeast-based spreads market is projected to be valued at USD 449.5 million in 2023. With a steady CAGR of 4.7%, the market is expected to grow to USD 711.0 million by 2033.
Residual brewer’s yeast is used to produce spreads such as Marmite and Vegemite, which are known for their savory flavors and high B vitamin content. Australia currently leads the global market for yeast-based spreads, thanks to key players like Vegemite, AussieMite, and Promite. The rising consumption of these spreads in Australia is expected to attract more companies to enter the market.
The United Kingdom market also has significant potential for growth in the coming years. Increased consumption of yeast-based spreads in the UK is driven by global leaders like Unilever, which produces Marmite. Recently, companies have concentrated on introducing new and innovative products. Additionally, the growing prevalence of vegetarianism and veganism is boosting global demand for yeast-based spreads, as more consumers adopt plant-based diets.
Research has shown that the high B vitamin content in yeast-based spreads may help alleviate symptoms of mental health conditions such as depression and anxiety. With global discussions and awareness around mental health increasing, Future Market Insights (FMI) anticipates these trends will continue to gain momentum. This growing awareness presents promising opportunities for players in the global yeast-based spreads market.
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 4.7% 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 5.8% 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.
Competitive Landscape
In competitive markets like the United Kingdom and Australia, companies are expected to intensify their marketing strategies to boost product penetration. Additionally, research and development will play a crucial role as businesses focus on improving existing products and offering them at competitive 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.
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
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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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Website: https://www.futuremarketinsights.com
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