The beta-glucan market is experiencing significant growth, driven by the growing awareness of its health benefits. Moreover, the pharmaceutical industry’s exploration of beta-glucans for their potential in developing immunotherapies is acting as a significant catalyst for the expansion of this market.
PORTLAND, Ore., Jan. 24, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Beta-Glucan Market by Type (Soluble and Insoluble), Source (Cereal, Mushroom, Yeast, and Seaweed), and Industry Vertical (Food and Beverages, Animal Feed, Personal Care and Cosmetics, Pharmaceuticals, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global beta-glucan market generated $567.8 Million in 2022 and is anticipated to generate $1,213.2 million by 2032, witnessing a CAGR of 7.9% from 2023 to 2032.
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Prime determinants of growth
The growth of the beta-glucan market is driven by several key determinants that collectively contribute to its upward trajectory. Increasing consumer awareness and emphasis on health and wellness play a pivotal role. As consumers become more health-conscious, there is a growing demand for functional ingredients like beta-glucans, known for their immune-boosting properties and positive impact on heart health. The prevalence of chronic diseases globally is a significant driver for market growth. With conditions such as cardiovascular diseases and diabetes on the rise, individuals are proactively seeking dietary solutions for prevention and management. Beta-glucans, with their demonstrated efficacy in supporting heart health, align with this trend, leading to increased adoption and market demand.
The expansion of beta-glucan applications across diverse industries serves as another determinant. Initially recognized for their cholesterol-lowering properties in oats, beta-glucans are now finding application in pharmaceuticals, cosmetics, and an array of functional food. Ongoing research and development efforts exploring new applications contribute to the market’s versatility and attractiveness. Furthermore, the global preference for natural and organic products is propelling the beta-glucan market forward. Consumers are increasingly inclined toward clean-label and plant-derived ingredients. Beta-glucans, sourced from natural grains such as oats and barley, meet this demand and are featured prominently in a variety of natural and organic products across industries.
Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$567.8 million |
|
Market Size in 2032 |
$1,213.2 million |
|
CAGR |
7.9 % |
|
No. of Pages in Report |
564 |
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Segments covered |
Type, Source, Industry Vertical, and Region |
|
Drivers |
• Increase in Health Awareness • Cardiovascular Health Concerns |
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Opportunities |
• Collaboration with Pharma Industry • Educational initiatives |
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Restraints |
• Clinical Validation and Research |
The soluble segment to maintain its leadership status throughout the forecast period
By type, the soluble segment held the highest market share in 2022, accounting for three-fifths of the global beta-glucan market revenue, and is estimated to maintain its leadership status throughout the forecast period. The soluble beta-glucan market is witnessing a surge in demand due to the growing awareness of its health benefits, particularly in immune support and cholesterol management. As consumers seek functional food and supplements, products containing soluble beta-glucan are gaining popularity. However, the insoluble segment is projected to manifest the highest CAGR of 8.3% from 2023 to 2032.
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The cereal segment to maintain its leadership status throughout the forecast period
By source, the cereal segment held the highest market share in 2022, accounting for one-third of the global beta-glucan market revenue, and is estimated to maintain its leadership status throughout the forecast period. The cereal segment is witnessing an upswing with the increasing popularity of oats and barley-based products. Consumers are drawn to the natural and wholesome image of these grains, driving the demand for beta-glucan in cereals and dietary supplements. Additionally, the mushroom segment is projected to manifest the highest CAGR of 8.5% from 2023 to 2032.
The food and beverages segment to maintain its leadership status throughout the forecast period.
By industry vertical, the food and beverages segment held the highest market share in 2022, accounting for two-fifths of the global beta-glucan market revenue, and is estimated to maintain its leadership status throughout the forecast period. In the beta-glucan market, the food and beverages sector utilizes beta-glucan in various products, capitalizing on its health benefits. It is incorporated into functional food, dietary supplements, and beverages, catering to health-conscious consumers seeking immune support and cardiovascular wellness. Additionally, the pharmaceuticals segment is projected to manifest the highest CAGR of 9.3% from 2023 to 2032.
Europe to maintain its dominance by 2032
By region, Europe held the highest market share in terms of revenue in 2022, accounting for one-third of the beta-glucan market revenue. Europe’s beta-glucan market is characterized by a trend toward stringent regulations and heightened consumer awareness. The region sees a growing preference for clean-label and functional products, driving the integration of beta-glucan into dietary supplements and health-focused food items. In addition, the LAMEA region is also expected to witness the fastest CAGR of 9.2% from 2023 to 2032 and is projected to dominate the market during the forecast period.
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Leading Market Players: –
- Koninklijke DSM N.V.
- Super Beta Glucan
- Kemin Industries, Inc.
- Kerry Group plc
- Angel Yeast Co., Ltd.
- Associated British Foods PLC
- Lallemand Inc.
- Garuda International, Inc.
- Lesaffre
- Givaudan SA
The report provides a detailed analysis of these key players in the global beta-glucan market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, distribution channel portfolio, and strategic moves of market players to showcase the competitive scenario.
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