The global yeast-based spreads market is forecasted to attain a valuation of USD 449.5 million in 2023. With a consistent compound annual growth rate (CAGR) of 4.7%, the market is expected to experience steady growth, reaching 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. Currently, Australia leads the global market for yeast-based spreads, thanks to prominent brands like Vegemite, AussieMite, and Promite. The growing consumption of yeast-based spreads in Australia is expected to attract more market participants.
The United Kingdom also shows significant potential for market growth. Increasing consumption of yeast-based spreads in the UK is driven by global leaders like Unilever, which produces Marmite. Recent years have seen a strong focus on launching innovative products. Additionally, the rising prevalence of vegetarianism and veganism is contributing to the growing demand for yeast-based spreads. As more consumers adopt vegetarian and vegan diets, the market for these spreads is expected to experience notable growth.
Research has shown that the high B vitamin content in yeast-based spreads may help alleviate symptoms of mental health conditions like depression and anxiety. With increasing global attention and discussions about mental health in recent years, Future Market Insights (FMI) anticipates that these trends will continue to gain momentum. This growing awareness is expected to create lucrative opportunities for companies 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
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.
Get Strategic Guidance from Our Analyst Contact us on: +1-347-918-3531
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 (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI’s latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
Contact Us
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube