Market Overview:
The global beta-glucan market size was valued at USD 313.90 million in 2018. It is projected to reach USD 847.27 million by 2032, exhibiting a CAGR of 7.38% during the forecast period. North America dominated the beta glucan market with a market share of 44.54% in 2018. The beta-glucan market in the U.S. is witnessing steady growth, driven by increasing consumer awareness of its health benefits, particularly in immune support, heart health, and dietary supplements.
The increasing demand for plant-based food and surge in horticulture will contribute positively to the growth of the beta-glucan market during the forecast period. As per the Indian Institute of Vegetable Research statistics, the total area under horticultural crops in India is 21.83 million hectares and the production is 240.53 million tons. Fruits and vegetables together add up to 92% of the total horticultural production in the country. The growing inclination towards beta glucan owing to its benefits such as increased immunity and lowered blood sugar levels will boost the beta glucan market revenue during the forecast period. Additionally, the increasing application of beta glucan as dietary supplements, functional food, personal care, and others will spur sales opportunities for the market in the forthcoming years.
Some of the Major Companies in the Operating in the Beta Glucan Market Include:
Kerry Group plc.
Givaudan SA
Koninklijke DSM N.V.
Euglena Co. Ltd
Biotec Pharmacon ASA
Tate & Lyle plc.
Lesaffre Group
Kemin Industries, Inc.
ABF Ingredients
Super Beta Glucan
Garuda International, Inc.
As per the report, published by Fortune Business Insights, titled “Beta Glucan Market Size, Share & Industry Analysis, By Source (Yeast, Mushroom, Cereals, and Microalgae), Application (Food & Beverages, Animal Feed, Personal Care, Pharmaceuticals, and Others), Type (1,3 Beta Glucan, 1,4 Beta Glucan, and 1,6 Beta Glucan), and Regional Forecasts, 2019 – 2032” the market size stood at USD 313.90 million in 2018. The beta glucan market report incorporates several factors that have impacted the beta glucan market growth and share in recent years. Besides providing insights on the growth stimulators, it reveals a few factors that have restricted the market growth. The report highlights a few of the leading products, significant companies, and considerable industry developments of recent times. The competitive landscape has been discussed in in-depth in the foodservice equipment market report. Forecast values for the market have been provided in the report for the period of 2019 to 2032. Moreover, the report recognizes areas that have witnessed the highest demand and applications for the product in recent years.
Source: https://www.fortunebusinessinsights.com/industry-reports/beta-glucan-market-100532
Market Driver:
Rising Emphasis on Dietary Supplements to Augment Healthy Growth
The increasing popularity of nutraceutical products will have a positive impact on the beta glucan market growth during the forecast period. The growing emphasis on healthy and functional food items by consumers to fulfill nutritional requirements will bolster substantially to market development. Moreover, the rising importance of dietary supplements owing to their numerous benefits will also aid the expansion of the market. The surge in gym-goers, athletes and health-conscious consumers will also contribute positively to the growth of the market in the foreseeable future. The rising focus of nutraceutical manufacturing companies towards the formulation and offering of varied and natural supplements infused with the advantage of beta glucan specifically to improve gut and immune health of the body will increase business profits for the beta glucan market. Additionally, the growing reverence towards vegetation and green environment will augment the applications of beta glucan.
Market Restraint:
Functional Properties of Beta Glucan to Hinder Demand Among Hyperglycemia Patients
The rising cases of diabetes around the world owing to lack of nutritional guidance and lack of insulin in the body will unsolicitedly dampen the growth of the market. Diabetic cases involve both hypoglycemia patients with low blood sugar levels and hyperglycemia patients with high blood sugar levels. According to the Global Diabetes Community, U.K., it was estimated that 415 million people were suffering from diabetes in 2018 across the globe and the numbers are expected to rise to 642 million by 2040. “As beta glucan is popular for its functional property which lowers the blood sugar level in the body. This factor will hamper the requirement for beta glucan among hyperglycemia- patients with low blood sugar levels”, states our lead analysts at Fortune Business Insights. Nonetheless, hypoglycemia patients can consume beta glucan in irregular intervals without affecting the blood sugar levels in the body.
Regional Insight:
Growing Obese Population to Encourage Growth in North America
North America generated a revenue of USD 139.80 Million in 2018 and is predicted to dominate the global market during the forecast period owing to the growing obese population in the region. According to the Centers for Disease Control and Prevention, the prevalence of obesity in the U.S was 39.8% and affected around 93.3 million of the U.S. adult population in 2015-2016. The rising awareness regarding the benefits of algae-derived products will boost the beta glucan market trends.
KEY INDUSTRY DEVELOPMENTS:
In November 2019, Kerry Group plc. created and implemented an artificial intelligence platform viz. Kerry TrendSpotter, developed in partnership with IBM Watson. The technology will analyze the need & demands of millions of consumers through social media to forecast future demand and beta glucan market trends for products and other natural food & food ingredients in the global market place.