30 Aug Webinar – Inflation outlook: cost optimization with Biospringer yeast extracts
In August this year, Esther Ong, Product Manager of Biospringer Asia Pacific, and Ming Pei Yeo, our local Culinary Center’s Food Technologist presented a short webinar (20 minutes) on the cost optimization with Biospringer’s yeast extracts. During this webinar, they explained how yeast extracts can be a perfect fit to face current inflation challenges, as it may replace and optimize food manufacturers’ current food ingredients.
Market insight: disruption in the supply chain
Everyone is aware of the recent inflation worldwide. Early 2022, the price of all goods and services significantly increased in Asia Pacific. To name a few, the supply-demand mismatches from the surge demand for goods, pandemic-induced disruptions, rising energy and commodity prices are big concerns in Asia.
This is due to three main factors responsible for disrupting the supply chain. First of all, the war between Russia and Ukraine is causing the surge of commodity prices, with oil and gas supplies being cut off, it drove up the cost of fertilizers. That directly impacted the cost from farm to fork. Secondly, as commonly known, the COVID-19 pandemic has an important impact on the global economy that disrupted the supply chain with factory closures, shipping congestions and container shortages, to name a few. Finally, the climate change causing many natural disasters impacted drastically the harvest of food ingredients, which explains the cost increase as well.
Thus, largely due to higher fuel and food prices, inflation is expected to rise across the Asia Pacific region in 2022.
Biospringer yeast extract is the right solution for cost optimization
“Manufacturers are facing changes, tracking the balance to keep the price competitive for better profitability while maintaining the original taste and quality of their products. Hence, finding the right alternative ingredients to mitigate the pricing cost of the ingredients will always be the top priority for food manufacturers when reformulating the recipes” explains Ming Pei Yeo.
Yeast extract is a potential solution for you, to provide cost optimization in your formulation without compromising the taste and quality. In this webinar, we decided to focus on dairy ingredients, savory ingredients like soy sauce, and cocoa ingredients.
First case study: Cheddar flavored seasoning
In cheddar flavored seasoning, using Springer Signature Cheese product instead of cheese powder maintains the original cheesy intensity, harmonizes taste while preserving the authentic cheese profile, and provides more umami and long-lasting cheesy performance.
Food manufacturer’s other challenges and concerns
There are many other concerns and challenges to be faced from a food manufacturer’s point of view. For example, the raw ingredients’ availability, the quality of it as well as its versatility, so that it can apply in different segments. The naturality of ingredients is also important for consumers, therefore, food manufacturers should to avoid food ingredients with E-numbers on their label. Finally, vegetarian and vegan-friendly ingredients should be advantaged over others to respect consumers’ rising demand.
Yeast extract is fulfilling food manufacturers’ criteria
As a matter of fact, our yeast extracts can fulfill all these criteria. We have a global presence, with sustainable source from production plant in eight factories worldwide, including one high group standard factory in Laibin (China). We are also able to provide a good consistency of the quality of our yeast extracts to our customers. Moreover, yeast extract applies in various savory and sweet segments. Besides, our ingredient is clean label, with no E-numbers appearing on the ingredients’ list. And last but not least, it is from natural origin, therefore vegetarian and vegan.