Unilever’s marketing efforts for the Marmite spread have been paying off, as it holds the largest market share in the yeast-based spread market. The segment is expected to accelerate with a CAGR of ten percent between 2023 and 2033. Even though Marmite's share is expected to drop in this time frame, it will only go from 39.4 percent down to 36.3 percent.
Australia holds one of the most significant yeast-based markets in the world, with AussieMite, Promite and Vegemite all popular with consumers. These prominent players make it hard for anyone else to penetrate the market. The UK, however, remains the most lucrative. Yeast-based spreads are still an emerging category in the USA. The rise of veganism and vegetarianism is expected to accelerate the spread demand in the near future.
