Beta Glucan Market Growth Trajectory: Trends, Size, and Projections, 2032
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.
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