The study foretells that the yeast-based spreads market would flourish over the prediction timeline. Radical shifts in consumption patterns from the traditional jams to yeast-based spreads have created tailwinds for the market. Yeast-based spread comprises vitamin B complexes and is one of the most consumed spreads across the world. Consumers with greater awareness of the health benefits of yeast-based spread consumption and greater acceptance levels of these spreads are propelling remarkable growth across the global market.
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The global demand for alcohol has resulted in the consistent growth of the brewing industry. This has led to a subsequent rise in the leftover mass of brewer’s yeast which finds its application in the production of yeast-based spreads. Being prepared from the leftover brewers’ yeast post brewing process, the yeast spread is a highly affordable source of vitamin B with delectable flavor. Moreover, fortification with vitamin B12 further enhances the nutritional profile of these spreads. Daily consumption of spreads viz vegemite and marmite helps in reducing stress and anxiety. The growing numbers of people with stress, depression, and anxiety issues, especially in urban areas, are projected to drive the market towards sound maturity and create numerous lucrative opportunities for players operating in the yeast-based spreads market.
Global Yeast-Based Spreads Market Dynamics
Of late, the demand for natural and vegetarian food has observed sharp spikes. As compared to animal-based food items, these products are easier to digest, rich in fibers, and wholesome. This has augmented the demand for yeast-based spreads across the world. Furthermore, its cheesy savory flavor comes from the usage of an umami-rich enhancer, subsequently creating a vegan supplement for cheese. Therefore, this further builds the momentum for the market expansion, drawing the attention of consumers at a noticeable pace.
The yeast-based spreads market is making a quantum leap with the production of organic yeast on the solid turf of rising awareness of healthcare and wellness, and progressive inclination towards organic food products. Organic yeast-based spreads contain enriched vitamins and minerals and lower sodium levels. Besides, the organic technique of production assures that there are no chemicals, artificial flavors, and additives in the spread.
Asia Pacific to Sustain Dominance in the Yeast-Based Spreads Market; Europe on an Upward Trajectory
Geographically, the yeast-based spreads market is segregated as Asia Pacific, Europe, North America, South America, and the Middle East and Africa. Among these, Asia Pacific is projected to exhibit greater grit in garnering a leading position in the market. Altering consumption patterns, surging intake of fast foods, and yeast-based spreads are creating remunerative opportunities across the market in the APAC. During the forecast period, the emerging economies in the region such as India are poised to make significant contributions to the holistic growth of the yeast-based spreads market.
On the flip side, the market in Europe is thriving with the rising prevalence of a huge consumer base, growing consumption of bakery products by the local population are major growth drivers for the region. The consistent rise in the per capita income of the populace further boosts the growth of the yeast-based spreads market in Europe.
Prominent Players Consolidating Stronghold Positions in Yeast-Based Spreads Market
Leading stakeholders steering the global yeast-based spreads market growth are Unilever Plc, Bega cheese, Mars Foods, Nature’s Blend, and AussieMite among others.
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