The Beta Glucan Market is estimated to witness high growth owing to increasing demand for functional foods. Beta glucans are known for their immune-boosting properties and act as a dietary fibers. These compounds are found in cereals such as oats and barley and mushrooms. Beta glucans helps support healthy immune system.
Market Overview:
Beta glucan is a soluble fiber compound found in cell walls of cereal grains such as oats and barley. It acts as thickening and stabilizing agent, texture enhancer and enhances the nutritional profile of foods and beverages. Beta glucan helps reduce blood sugar levels, promotes healthy gut and supports cardiovascular health. Growing demand for functional foods with added health benefits is expected to drive the growth of beta glucan market over the forecast period.
Market key trends:
Increasing awareness among consumers regarding health benefits of beta glucan is a major factor augmenting the market growth. Rising cases of chronic diseases is also raising significance of consumption of functional foods containing beta glucan compounds. Growing demand for natural and plant-based ingredients in foods, supplements and pharmaceuticals industry creates lucrative opportunities for market players. Product innovations targeting specific consumer health issues using beta glucan extracts is another trend expected to dominate the market in upcoming years.
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.
Porter’s Analysis
Threat of new entrants: Low capital requirements and established value chain pose a moderate threat of new entrants in the beta glucan market.
Bargaining power of buyers: Large number of buyers in food and pharmaceutical industry leads to high bargaining power of buyers in the market.
Bargaining power of suppliers: Standardized production process and presence of numerous suppliers in the market results in low bargaining power of suppliers.
Threat of new substitutes: Newer prebiotic ingredients may pose threat as substitutes for beta-glucan in coming years.
Competitive rivalry: Market dominated by major international players intensifies competitive rivalry.
SWOT Analysis
Strength: High functional value as a prebiotic fiber and immunomodulator. Growing demand from nutraceuticals and pharmaceuticals industries.
Weakness: Higher costs than other food fibers affects adoption rates. Complex production methods constrain consistent supply.
Opportunity: Rising health awareness and preventive healthcare trends boost market opportunity. Untapped potential in developing regions.
Threats: Stringent regulatory approvals and safety standards add complexity. Threat from alternative natural prebiotics.
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 and wellness trend among consumers. The market size for 2023 is US$ 595.51 Mn.
Regionally, North America dominated the beta glucan market in 2022 due to rising expenditure on preventive healthcare and dietary supplements. Asia Pacific is expected to be the fastest growing region during the forecast period with nations like China, India, Japan and South Korea emerging as major consumers.
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).
Comments
0 comment