The Beta Glucan Market is estimated to be valued at US$ 551.4 Mn in 2022 and is expected to exhibit a CAGR of 8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Beta glucan is a type of soluble fiber found in various natural sources such as oats, yeast, mushrooms, and barley. It offers numerous health benefits including immune system support, cholesterol reduction, and improvement in cardiovascular health. The increasing consumer awareness regarding the importance of maintaining a healthy lifestyle and the rising prevalence of chronic diseases such as diabetes and obesity are driving the demand for beta glucan-based products. Moreover, the growing demand for nutraceuticals and the rising popularity of functional food and beverages are further fueling the market growth.
The beta glucan market is driven by two major factors. Firstly, the increasing demand for nutraceuticals, which are food products infused with bioactive compounds that offer medicinal benefits, is significantly boosting the market growth. Beta glucan is widely used in the production of nutraceutical products as it provides immune system support and improves overall health. Secondly, the rising prevalence of chronic diseases such as diabetes, cardiovascular disorders, and obesity is driving the demand for beta glucan-based products. Beta glucan has been proven to have cholesterol-reducing properties and can help in managing blood sugar levels, making it a suitable option for people suffering from such conditions. Additionally, the growing popularity of functional food and beverages, which offer additional health benefits beyond basic nutrition, is further propelling the market growth for beta glucan. These factors are expected to contribute to the high growth of the beta glucan market over the forecast period.
The beta glucan market can be segmented based on source, application, and region. In terms of source, the market can be divided into yeast, mushroom, grains, and seaweed. Among these, yeast-based beta glucan dominates the market due to its wide range of applications and high demand in the food and beverage industry. Yeast-based beta glucan offers various health benefits, such as immune system improvement and cholesterol reduction, which makes it a popular choice among consumers.
The political stability of a country can impact the beta glucan market. Regulations and policies related to food safety and labeling can influence the production and distribution of beta glucan products.
The economic conditions of a country can affect the purchasing power of consumers. A stable economy and increasing disposable income can drive the demand for beta glucan products.
The growing awareness among consumers about the health benefits of beta glucan is driving the demand for these products. Increasing health consciousness and the desire for a healthy lifestyle contribute to the growth of the market.
Technological advancements in the extraction and purification process of beta glucan have led to improved product quality and increased efficiency. These advancements have also enabled the development of new applications for beta glucan.
The global beta glucan market is expected to witness high growth, exhibiting a CAGR of 8% over the forecast period (2023-2030). This growth can be attributed to the increasing demand for functional food ingredients and the growing awareness about the health benefits of beta glucan.
In terms of regional analysis, North America is the fastest-growing and dominating region in the beta glucan market. The presence of major key players, coupled with the rising demand for natural and functional ingredients in food and beverage applications, is driving the market growth in this region.
Key players operating in the beta glucan market include Associated British Foods Plc, Biotec Pharmacon ASA, Biothera, Ceapro Inc., Immuno Medic AS, Koninklijke DSM N.V., Super Beta Glucan (SBG) Inc., Groupe Soufflet S.A, Tate & Lyle plc., and Zilor Inc. These players are focusing on product innovation and strategic partnerships to strengthen their market position.