Nutritional yeast is a yellowish powder made from inactivated yeast. It is a popular ingredient in vegan diets as it provides a cheesy, nutty flavor and several B vitamins. Nutritional yeast is commonly used to make vegan cheese alternatives and is also added to popcorn, mashed potatoes, pasta dishes, and soup. It is gaining popularity owing to the rising veganism and number of people opting for gluten-free diets.

The global Nutritional Yeast Market Size 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 vegan and gluten-free diets is expected to drive the nutritional yeast market over the forecast period. As stated in the heading, the vegan community has embraced nutritional yeast as it gives a cheesy flavor to vegan recipes without animal products. Moreover, nutritional yeast is naturally gluten-free, making it appealing to people who are sensitive to gluten. It serves as an alternative to cheese powder and adds nutrients to many gluten-free recipes. Additionally, nutritional yeast is high in several B-complex vitamins like riboflavin, niacin, folate, and vitamin B12 which also boosts its popularity. However, the distinct flavor profile of nutritional yeast may not appeal to all consumers. Some find it too nutty or bitter tasting for certain dishes. This could act as a constraint for the market.

Segment Analysis

The global nutritional yeast market is segmented on the basis of form, application, distribution channel and geography. On the basis of form, the market is segmented into flakes, powder and tablets. The flakes segment dominates the market and is expected to continue its dominance during the forecast period. This is due to its wide range of application in food processing and food service industry.

PEST Analysis

Political: The nutritional yeast market is influenced by various government regulations related to food ingredients and labelling. Stringent regulations associated with food additives and nutritional supplements can hamper the growth of the market.

Economic: Changes in disposable income levels directly impact the spending on health and wellness products. Rise in middle class population and their spending power boost the demand for nutritional yeast products.

Social: Growing health awareness among people and focus on consuming nutrient-rich food drive the adoption of nutritional yeast. It is considered a healthy alternative to cheese and other dairy products.

Technological: Leading players are investing in R&D to develop innovative nutritional yeast products. New production technologies help increase yields and reduce costs.

Key Takeaways

The Global Nutritional Yeast Market Demand was valued at US$ 229.6 million in 2023 and is projected to reach US$ 376.4 million by 2030, growing at a CAGR of 6.8% during the forecast period..

Regional analysis: North America is expected to dominate the nutritional yeast market during the analysis period. The growth in the region can be attributed to rising vegan and vegetarian population. The US accounts for the major share due high awareness regarding nutritional and health benefits of yeast.

Key players: Key players operating in the nutritional yeast market are Burley, PetEgo, Aosom, Solvit, Schwinn, InStep, Croozer, DoggyRide, Wike, Trail-a-Bike. These players are focusing on new product launches and strategic collaborations to strengthen their market position.

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