Beta Glucan Is Estimated To Witness High Growth Owing To Increasing Health Benefits Awareness
Market Overview:
Beta glucan is a polysaccharide composed of d-glucose monomers linked through glycosidic bonds. It is found in fungi, yeasts, bacteria, cereals such as barley and oats and some mushrooms. Beta glucans have numerous health benefits such as helping in cholesterol management, boosting immune function, lowering blood sugar levels and hasanti-cancer properties. They are commonly used as a dietary supplement, functional food ingredient and pharmaceutical ingredient.
Market Dynamics:
The growth of the beta glucan market is mainly driven by growing awareness of its numerous health benefits. Beta glucan helps boost the immune system which is seeing increasing demand especially during the ongoing COVID-19 pandemic. It also aids in cholesterol management and maintenance of healthy blood sugar levels. With rising prevalence of lifestyle diseases and increasing health consciousness, demand for beta glucan is growing. Additionally, expansion of application areas from dietary supplements to functional foods and pharmaceuticals will also contribute to market growth over the forecast period. However, high prices of pure beta glucan extracts and limited availability are some of the factors hampering market growth.
The global Beta Glucan Market Size is estimated to be valued at US$ 595.51 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strengths:
- Beta glucan has various health benefits such as boosting immunity, cholesterol reduction and maintaining blood sugar levels. This increases its demand.
- Wide availability of raw materials such as oats, barley and mushrooms for extracting beta glucan provides ample supply.
- Numerous clinical trials and research studies validating beta glucan's health properties has increased consumer trust.
Weaknesses:
- Production of highly pure beta glucan extracts involves complex extraction and purification processes making it expensive.
- Standardization of extraction methods and authentication of product quality across manufacturers still remains a challenge.
Opportunities:
- Growing health conscious consumer base and clean label trend provides growth opportunities for natural beta glucan ingredients.
- Emerging application areas of beta glucan such as nutraceuticals, animal feed and agriculture offers new avenues for market expansion.
Threats:
- Stiff competition from other mushroom and plant extracts limiting market share of individual players.
- Stringent regulatory landscape and approval process for new health claims delays product launches.
Key Takeaways
The global Beta Glucan Market is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing health consciousness among consumers and growing preference for natural ingredients which boost immunity.
Regional analysis:
North America region dominates the beta glucan market currently due to robust consumer demand for immune supporting ingredients. Europe follows as the second largest market due to rising gluten free trends. Asia Pacific region is expected to exhibit fastest growth over the forecast period fueled by growing expenditure on health and wellness products in developing economies like India and China.
Key players analysis:
Key players operating in the Beta Glucan Market are 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 players are focusing on new product launches, capacity expansions and partnerships to gain higher market shares.
Read More: https://blogger-veritas.blogspot.com/2023/11/soluble-beta-glucan-is-fastest-growing.html
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