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.
Market Overview:
Beta Glucan, a type of soluble fiber, is derived from various sources such as oats, yeast, mushrooms, and seaweeds. It is extensively used in the food and beverages industry as a functional ingredient due to its numerous health benefits. Beta Glucan is known for its immune-boosting properties and its ability to lower cholesterol levels. It is also used in the pharmaceutical sector for its potential anti-cancer properties and its application in wound healing and skin care products. The increasing consumer awareness about the importance of a healthy diet and the growing prevalence of chronic diseases are driving the demand for Beta Glucan products.
Market Dynamics:
The Beta Glucan market is expected to witness high growth due to two major drivers. Firstly, the rising demand from the food and beverages industry, as manufacturers are increasingly incorporating Beta Glucan in their products to enhance the nutritional value and functional properties. Secondly, the increasing adoption of Beta Glucan in the pharmaceutical sector, especially in the development of immune-boosting drugs and therapies. The growing consumer interest in natural and plant-based ingredients is also contributing to the market growth. Moreover, extensive research and development activities focusing on the potential applications of Beta Glucan are expected to further propel market growth in the coming years.
SWOT Analysis of the Beta Glucan Market:
Strength:
– Beta glucan is a natural compound with numerous health benefits, including immune system support and cholesterol reduction.
– Growing consumer demand for functional food and dietary supplements is driving the market growth.
– The Global Beta Glucan Market is characterized by the presence of key players offering a wide range of beta glucan products.
Weakness:
– Limited awareness about the benefits of beta glucan among consumers.
– High cost of beta glucan products compared to regular dietary supplements.
Opportunity:
– Increasing prevalence of chronic diseases, such as diabetes and cardiovascular diseases, is creating a favorable market for beta glucan as a preventive and therapeutic solution.
– Growing investments in research and development activities for the development of new and innovative beta glucan products.
Threats:
– Stringent government regulations and certifications required for the production and marketing of beta glucan products.
– Competition from alternative ingredients and supplements that offer similar health benefits.
Key Takeaways:
The global beta glucan market is expected to witness high growth, exhibiting a CAGR of 8% over the forecast period (2023-2030), due to increasing consumer awareness about the health benefits of beta glucan and the rising demand for functional food and dietary supplements. Among regions, North America is expected to be the fastest-growing and dominating region in the market, owing to the presence of key players and the growing consumer inclination towards preventive healthcare. 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 Inc., Groupe Soufflet S.A, Tate & Lyle plc., and Zilor Inc. These players are focusing on product innovation and expansion strategies to maintain their market position and cater to the increasing consumer demand for beta glucan products.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.