Between 2023 and 2033, the global Yeast Based Spreads Market is set to experience steady acceleration at a 4.7% CAGR
Residual brewer’s yeast is utilized to make spreads like Marmite and Vegemite. These spreads have savory tastes and are rich sources of B vitamins. Right now, Australia is leading the global market for yeast based spreads owing to the presence of prominent players such as Vegemite, AussieMite, and Promite. In Australia, consumption of yeast based spreads are picking up pace, which is anticipated to encourage more players to participate in the market.
The United Kingdom market holds immense potential for acceleration in the coming years as well. The surging consumption of yeast based spreads in the United Kingdom is being fueled by global giants Unilever, which produces Marmite. In recent years, players have been firmly focused on launching new and innovative products. Another key factor driving the consumption of yeast based spreads worldwide is the rising prevalence of vegetarianism and veganism. As more consumers become vegetarian and vegan around the world, yeast based spreads demand is sure to register an upward surge.
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Research has also revealed that yeast based spreads’ high B vitamin content can be effective in easing symptoms of mental health conditions such as depression and anxiety. Over the last few years, discussions and debates surrounding mental health have surged globally. Future Market Insights (FMI) expects these trends to gather further momentum in the years ahead. This should provide lucrative opportunities for players in the global market for yeast based spreads.
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.
Who is Winning?
Players in the global market for yeast based spreads are likely to prioritize promotional strategies and new product launches between 2023 and 2033. Social media marketing efforts are also set to gather momentum as players focus on making consumers aware of the health benefits of yeast based spreads.
Key players in the yeast based spreads market include: All Natural Foods of Stirling , AussieMite, Bega Cheese, Jardox Ltd, Marmite (New Zealand), Mars Foods, Nature’s Blend, Sanitarium Health & Wellbeing, Three Threes Condiments Pty. Ltd., Unilever Plc. and Vitam-R.
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
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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