The Beta Glucan Market 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.
Market Overview:
Beta glucan is a soluble fiber found in the cell walls of cereal grains such as oats and barley. It has various health benefits such as supporting immune function, blood sugar and cholesterol management. It is commonly used as an ingredient in various dietary supplements, functional foods and beverages. Oat beta glucan is approved by FDA and EFSA for its heart health claim. The increasing consumer awareness about preventive healthcare is expected to boost the demand for beta glucan based supplements and fortified foods.
Market Dynamics:
The growth of the beta glucan market is driven by the growing health consciousness among consumers and rising adoption of dietary supplements for perceived health benefits. According to a survey, more than 50% of consumers are interested in supplements that support immune health in light of COVID-19 pandemic. This is expected to significantly bolster the demand for beta glucan supplements due to its immune boosting properties. Additionally, the shift towards functional foods by food formulators to cater to consumer demands is also fueling the market growth. Food giants are incorporating beta glucan in various products such as breakfast cereals, yogurt, etc. to gain new customers. The clinical studies proving beta glucan’s cholesterol lowering effect is further widening its application in pharmaceuticals.
Segment Analysis
The beta glucan market is dominated by the cereal sources segment due to its wide application in food ingredients. Cereal sources such as oats, barley provide high fiber content beta glucan which is widely used by food manufacturers in cereal, baked goods, and dietary supplements.
PEST Analysis
Political: The regulations around usage of natural ingredients in food and dietary supplements are supportive for beta glucan growth. Many regions have approved its health claims related to immunity and heart health.
Economic: The rising health awareness and per capita healthcare spending is driving the demand for immunity boosting natural ingredients like beta glucan. The stable economic conditions in developed regions aid the market expansion.
Social: People are increasingly adopting healthier lifestyles and diets rich in whole grains and high fiber ingredients for long term wellness. Social media promotes various health benefits of beta glucan.
Technological: New extraction techniques help manufacturers offer customized beta glucan formulations for different end use industries with optimum purity and concentration levels.
Key Takeaways
Global Beta Glucan Market Size is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing health awareness regarding preventive healthcare and Immunity boosting foods. The market size for 2023 is estimated to reach US$ 595.51 Mn.
Regional analysis: North America dominates the beta glucan market owing to robust demand from dietary supplements and functional food industries in the region. Asia Pacific shows high growth prospects led by countries like China, India with rising middle class population.
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). Key players are focused on new product launches, expansion in emerging markets for sustained growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it