The report “Beta-Glucan Market by Source (Cereal, Mushroom, Yeast, and Seaweed), Application (Food & Beverages, Personal Care, Pharmaceuticals, Dietary Supplements, and Animal Feed), Category (Soluble and Insoluble), and Region – Global Forecast to 2026″, size is estimated to account for a value of USD 403.8 million in 2020 and is projected to grow at a CAGR 7.6% from 2020, to reach a value of USD 628.3 million by 2026. Factors such as the increasing research on beta-glucan, clubbed with its functional benefits has been the key areas that has supported the market growth of beta-glucan. Moreover, there is an increase in the application of beta-glucan in fast-moving industries, such as food & beverage and pharmaceuticals due to its health-promoting and prebiotic properties that has also helped in the growing demand for the market. It is also used across other application areas such as nutraceuticals, cosmetics, personal care, and animal feed.
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Driver: Growing health consciousness among consumers and increasing health expenditure.
With the shift in demand from processed to healthy food, functional, and superfoods, consumers have become more conscious of their health and maintain it proactively through healthy living. Consumers are more aware of the food ingredients and pay attention to nutrition labels and ingredients of the food products. This change in buying habits has resulted in higher demand for healthy foods and supplements and has attracted several manufacturers to offer new food products that are functional, not genetically modified, and sourced naturally. With the increasing consciousness and concern about health and wellness, demand for multifunctional beta-glucan is expected to increase in the coming years.
Manufacturers are also redesigning products and reducing cholesterol, sugar, fats (trans-fat and saturated), and sodium content of the food. They are switching from artificial ingredients and introducing products high in protein, fibers, and others that offer functional benefits. These developments have also resulted in the rise of per capita expenditure in major economies in North America and Europe, showing that people are relatively spending more on health & wellness as compared to the last few years.
By application, the dietary supplements segment is projected to grow at the fatsest CAGR in the beta-glucan market until 2026.
The rise in awareness about the health benefits associated with the consumption of dietary supplements and the increase in the number of health-conscious customers have been the two key factors that have triggered the demand for beta-glucan in dietary supplements. In the pharmaceutical industry, some dietary supplements play an important role in the treatment of several diseases and also play an active role in health maintenance.
Moreover, athletes and other sports personnel view dietary supplements as performance enhancement products. Beta-glucan has gradually grown from a healthy ingredient to a necessity in the soluble fiber product range. Hence, the usage of beta-glucan in dietary supplements has grown in demand worldwide.
The increasing demand for fortified nutritional food & beverage products in the Asia Pacific countries, drive the regions growth rate at a higher pace.
The application of beta-glucan is expected to increase at a faster pace due to the increasing demand from consumers in the Asia-Pacific region which is also expected to grow at one of the fastest rate. The processed food industry in the Asia-Pacific region is experiencing growth, owing to the changing lifestyles of customers. The food & beverage market in the Asia-Pacific region is currently undergoing a dramatic transformation in response to rapid urbanization, diet diversification, and the liberalization of foreign direct investment in the food sector. Moreover, rising incomes, purchasing power, and consumer demand for nutritional & healthy products provide promising prospects for the growth and diversification in the region’s food sector. China is estimated to account for the largest share in the Asia Pacific beta-glucan market due to the increasing investments from several multinational manufacturers in R&D and the network of convenience stores being extensive in first-tier and second-tier cities in China, where consumers have high health awareness and are willing to spend more on health-promoting products.
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Key Market Players:
Key players in this market include include major players such as Cargill Inc (US), Tate & Lyle Plc (UK), Kerry Group Plc (Ireland), Koninklijke DSM N.V. (Netherlands), Frutarom (Israel), Garuda International Inc (US), Ohly GmbH (Germany), Milliporesigma (US), Super Beta Glucan (US), Lesaffre Human Care (France), Kemin Industries (US), Angel Yeast Co Ltd (China), Biotec BetaGlucans AS (Norway), AIT Ingredients (France), Biorigin Zilor (Brazil), Ceapro Inc (Canada), Specialty Biotech Co Ltd (Thailand), Alltech Life Sciences (US). These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.
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