The Beta Glucan Market is estimated to be valued at US$ 551.4 Mn in 2023 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.
The market for beta glucan is witnessing significant growth due to its wide range of applications in various industries such as pharmaceuticals, food and beverages, personal care, and animal feed. Beta glucan is commonly used as an immune system booster and is proven to have potential health benefits, including cholesterol reduction, blood sugar control, and cancer prevention. It is also widely used in the cosmetics industry for its anti-aging and skin-rejuvenating properties.
The beta glucan market is driven by two major factors. Firstly, the increasing awareness among consumers regarding the health benefits of beta glucan is driving the demand for products that contain this ingredient. Consumers are becoming more conscious of their health and are actively seeking out natural and functional ingredients in their daily diet and skincare products.
Secondly, the growing prevalence of lifestyle-related diseases such as obesity, diabetes, and cardiovascular diseases is creating a demand for products that help in managing and preventing these conditions. Beta glucan, with its proven health benefits, is emerging as a popular choice among consumers and healthcare professionals for promoting overall health and wellness.
As a result of these drivers, the beta glucan market is expected to witness steady growth over the forecast period. The rising demand from various end-use industries and the increasing adoption of beta glucan in health-conscious consumer markets are expected to drive market growth in the coming years.
Market Key Trends:
The key trend in the beta glucan market is the increasing demand for functional food and dietary supplements. Beta glucans are known for their health benefits such as boosting the immune system, reducing cholesterol levels, and improving digestion. With the growing awareness of health and wellness among consumers, there is a rising preference for natural and organic products that offer functional benefits. This has led to a surge in the demand for beta glucan-based products in the food and dietary supplement industry. Additionally, the increasing prevalence of chronic diseases and the need for preventive healthcare have further propelled the market growth of beta glucans.
Strength: Beta glucans offer various health benefits and have a wide range of applications in the food, pharmaceutical, and personal care sectors. They are natural and safe ingredients, making them highly desirable in the market.
Weakness: Limited consumer awareness about the benefits of beta glucans and their limited availability in certain regions act as hindrances to market growth.
Opportunity: The growing demand for organic and natural ingredients in the food and healthcare sectors provides significant opportunities for beta glucan market players. Moreover, the rising vegan population and increasing disposable income contribute to market expansion.
Threats: Intense competition among key players, stringent regulations and certifications for product approval, and fluctuations in raw material prices pose threats to the beta glucan market.
The global beta glucan market is expected to witness high growth, exhibiting a CAGR of 8% over the forecast period of 2023-2030. This growth is primarily driven by the increasing demand for functional food and dietary supplements, as consumers prioritize health and wellness. North America is projected to be the fastest-growing and dominating region in the beta glucan market, followed by Europe and Asia Pacific. The region’s significant growth can be attributed to the rising prevalence of chronic diseases and the growing focus on preventive healthcare. Key players operating in the beta glucan market include Associated British Foods Plc, Biotec Pharmacon ASA (Biotec BetaGlucans AS), Biothera, the Immune Health Company, Ceapro Inc., Immuno Medic AS, Koninklijke DSM N.V., Super Beta Glucan (SBG) Inc., Groupe Soufflet S.A (AIT Ingredients), Tate & Lyle plc. (Tate & Lyle Oats Ingredients), and Zilor Inc. (Biorigin). These key players contribute significantly to market growth through product innovation, strategic partnerships, and geographic expansions.