Australia Yeast and Yeast Extract Market Report and Forecast 2024-2032

Australia Yeast and Yeast Extract Market Outlook

The Australia yeast and yeast extract market size is projected to grow at a CAGR of 9.2% between 2024 and 2032.

Key Takeaways

• The Australian yeast and yeast extract market is significant, with products like Vegemite and Marmite playing a role in food and beverage products.

• Vegemite, an iconic Australian spread made from brewers' yeast extract, has been used in various ways, including as a nutrient supplement for fermentation processes.

• As per industry reports, yeast extract consumption increases dietary intake of important nutrients like beta-carotene and B vitamins.

• Notable players in this market include Halcyon Proteins Pty Ltd, ltancy Pty Ltd, and BeerCo Pty Ltd.

The surging demand for clean label products with natural food ingredients is a significant trend in the Australia yeast and yeast extract market. Companies like Pureharvest and Vegemite are capitalising on this trend by offering yeast extract spreads that appeal to health-conscious consumers.

The increasing adoption of veganism and vegetarianism is another key trend in the market. Brands like Lotus Foods are introducing nutritional yeast products that serve as a plant-based protein source, aligning with the growing consumer interest in vegan and vegetarian options.

Baker's yeast products play a crucial role in driving Australia yeast and yeast extract market growth, as they cater to the baking industry's needs for leavening agents. The segment is further influenced by the demand for bakery products and the growth of the baking industry. For example, major bakery chains like Bakers Delight rely on baker's yeast for their bread and pastry production.

Distiller's and wine yeast segment is influenced by the demand for spirits and wine, impacting the market by driving the consumption of yeast strains tailored for distillation and winemaking processes. Wineries like Penfolds utilise specific wine yeast strains to achieve desired flavours and aromas in their wines, showcasing the importance of yeast in the wine industry.

In the biofuel industry, yeast plays a vital role in ethanol production from renewable sources like sugarcane and grains. Yeast strains optimised for ethanol fermentation are essential for biofuel production. For example, companies like Manildra Group in Australia use specialised distiller's yeast strains to convert sugars into ethanol efficiently, contributing to the segment’s growth.

Yeast and yeast extract products are valuable additives in the feed industry for livestock and poultry nutrition as they improve digestion, enhance nutrient absorption, and boost animal health. Companies like Ridley Corporation incorporate yeast products in animal feed formulations to optimise animal performance and well-being.

Market Segmentation

Australia Yeast and Yeast Extract Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Baker's Yeast

• Distiller's and Wine Yeast

• Brewer's Yeast

Market Breakup by Specialty Yeast

• Yeast Extracts

• Autolysates

Market Breakup by Form 

• Fresh Yeast

• Instant Yeast

• Active Dry Yeast

Market Breakup by Application

• Biofuel Industry

• Food and Beverages

• Feed Industry

• Others

Market Breakup by Region

• New South Wales

• Victoria

• Queensland

• Australian Capital Territory

• Western Australia

• Others

Competitive Landscape

Market players are intensifying their research and development efforts to develop niche and innovative products, focusing on offering reasonably priced goods and broadening their global reach.

• Halcyon Proteins Pty Ltd

• All Chemical Manufacturing & Consultancy Pty Ltd

• BeerCo Pty Ltd

• Lesaffre Australia Pacific Pty Ltd

• Others

Key Highlights of the Report