Nutritional yeast is a deactivated yeast that is commonly used as a nutritional supplement and food ingredient. It has a cheese-like, rich flavor and is high in protein, fiber, vitamins and minerals. It is commonly used as a substitute for cheese in vegan cooking and baking. It is used to make vegan mac and cheese, popcorn, salad dressings, sauces and gravies. The unique flavor nutritional yeast imparts to foods makes it a popular ingredient in vegan cuisine. Due to its high nutritional value and health benefits, it is also increasingly being used as a supplement. The global nutritional yeast market is dominated by kombucha and savory products made from nutritional yeast.

The global Nutritional Yeast Market is estimated to be valued at US$ 229.6 Million in 2023 and is expected to exhibit a CAGR Of 6.8% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The growing demand for natural food ingredients is expected to drive the growth of the nutritional yeast market over the forecast period. As consumers become more health conscious and seek products with simple, clean ingredients nutritional yeast fits well owing to its high nutritional value and minimally processed nature. Nutritional yeast has gained popularity due to rising vegan and vegetarian demographic globally. It is a sustainable alternative to dairy and adds flavor and nutrients to plant based diet. Secondly, increased use of nutritional yeast as a dietary supplement will also propel the market growth. It is rich in B-complex vitamins and minerals like zinc, selenium and iron which are important for overall health.

Segment Analysis

The global nutritional yeast market is dominated by the food & beverage sub-segment. Nutritional yeast products have found extensive usage in the preparation of vegan alternative meat & dairy products such as vegan cheese, butter, gravy etc. as they impart the signature umami flavor to such products. The increasing vegan and vegetarian population globally is driving the demand for plant-based meat and dairy alternatives, thereby propelling the growth of the food & beverage sub-segment of the nutritional yeast market.

PEST Analysis

Political: The governing bodies in various countries are supporting the vegan and sustainable food movement through policies and regulations. Stringent regulations regarding animal welfare and carbon emissions from livestock are boosting the demand for plant-based food products using nutritional yeast.

Economic: The rising disposable income and growing health consciousness among consumers are increasing consumer spending on nutritional and plant-based products. The low cost of production of nutritional yeast compared to traditional meat and dairy products is attracting investments in this market.

Social: Wide acceptance of veganism and flexibility in dietary preferences among millennials and generation Z is driving the popularity of vegan substitute products containing nutritional yeast. Social media is amplifying awareness about health and environmental benefits of plant-based nutrition.

Technological: Advancements in fermentation and yeast cultivation techniques have improved the taste, nutrition value and shelf life of nutritional yeast. New product launches such as nutritional yeast spreads, seasonings etc. catering to on-the-go lifestyles are expanding the market.

Key Takeaways

The Global Nutritional Yeast Market Demand  is expected to witness high growth over the forecast period owing to the increasing health consciousness among consumers globally. The global Nutritional Yeast Market is estimated to be valued at US$ 229.6 Mn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030.

Regional analysis

North America is the fastest growing regional market for nutritional yeast propelled by growing veganism and increasing adoption of plant-based diets in the US and Canada. According to statistics, around 8% of the US population follows a vegan diet indicating vast market potential.

Key players

Key players operating in the nutritional yeast market are Burley, PetEgo, Aosom, Solvit, Schwinn, InStep, Croozer, DoggyRide, Wike, Trail-a-Bike.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it