The beta-glucan market is evaluated at US$385.582 million for the year 2019 growing at a CAGR of 5.66% reaching the market size of US$536.510 million by the year 2025.
Beta-glucan is a type of dietary fiber that offers several benefits on consumption such as improvement of cholesterol levels and also helps in the improvement of heart health. The market for beta-glucan is projected to witness a healthy growth over the course of the next five years which is attributable to the fact that the health benefits associated with it have led to an upsurge in consumption. The growing prevalence of chronic health issues such as diabetes, cholesterol, and other diseases has further led to an increased demand for health and wellness products which in turn is also playing a significant role in shaping up the beta-glucan market growth during the next five years. The inclination of consumers towards personal health is also positively impacting the market growth of nutraceutical products particularly in the developed regions such as North America and Europe. The rising participation by the players operating in the market in the form of acquisitions, partnerships, and increased investments for R&D for the launch of new products further shows the potential for the market growth in the near future. Thus, creating lucrative business opportunities for the manufacturers over the course of the next five years.
The outbreak of the novel coronavirus disease is anticipated to positively impact the market growth to some extent. The key factor supplementing the growth during the short run is the upsurge in the consumption of a healthy diet with an aim to boost the immunity system. The increased consumption of healthy food further acts as a catalyst for positive market growth amid the disease. Additionally, the consumption of functional foods has also increased significantly, thus, creating a positive demand for beta-glucan during the short period of six to eight months.
The beta-glucan market has been segmented on the basis of type, source, and application. On the basis of type, the classification of the market has been done into soluble and insoluble. By source, the segmentation of the market has been done as cereals, mushrooms, yeast, and others. By application, the market has been segmented into food and beverages, cosmetics and personal care, pharmaceuticals, and others. Geographically, the market has been distributed into North America, South America, Europe, Middle East and Africa, and Asia Pacific
Key Developments in the market:
There is a significant volume of companies working in the beta-glucan market, however, some have solidified their position as the leading providers in this industry. These players are involved in a plethora of investments, product launches, and R&D as a part of their growth strategies to further strengthen their position and provide better products and services to their customers worldwide, which is further expected to propel the growth of the market in the coming years. Some of these are:
July 2020, Hibercell Inc., one of the globally known therapeutic molecules development company announced that it will acquire Biothera Pharmaceuticals’ Imprime PGG Program.
July 2020, Immudyne Nutritional, a 30-year-old expert company that offers nutritional ingredients announced the launch of a new product, PureMune, which is a science-based branded beta-glucan ingredient for immune health.
June 2020, Biotec Pharmacon announced its rebrandingtoArcticZymes Technologies ASA with an aim to enhance its brand identity and capture a greater share in the market.
January 2020, Herbalife Nutrition announced the launch of a new product Beta Heart which primarily offers better cardiovascular health. The product contains oat beta-glucan which helps in the reduction of and maintenance of blood cholesterol.
The growing prevalence of diseases is driving the market growth
One of the primary factors that is playing a major role in boosting the beta-glucan market growth is the constantly growing prevalence of chronic diseases such as CVDs, diabetes, and obesity in many parts of the world. As per the latest reports from the U.S Department of Health and Human Services, one out of ten Americans have diabetes, and 1 out of three American adults have prediabetes. Similarly, as per the statistics from the World Health Organization, approximately 17.9 million people die each year due to cardiovascular diseases which accounts for almost 31% of the total deaths worldwide. This, in turn, has further propelled the consumption of functional foods and beverages since there are growing concerns regarding personal health.
Mushrooms to witness a promising growth
By source, the cereals segment is anticipated to hold a significant share in the market which is attributed to the fact that cereals gives a positive impact on human health. However, on the other hand, mushroom-based beta-glucan is anticipated to witness significant growth during the next five years owing to the wide applications in cosmetic products.
Asia Pacific to hold a significant share
Geographically, the Asia Pacific region is expected to hold a decent share in the market which is primarily attributable to the fact that the presence of a vast industrial base in countries like China, India, and Japan is a major factor supporting the demand for beta-glucan.
Prominent/major key market players in the beta-glucan market include Kerry Group pls, DSM, and Ceapro Inc among others. The players in the beta-glucan market are implementing various growth strategies to gain a competitive advantage over its competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the beta-glucan market.