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The global beta glucan market is anticipated to grow at a rapid pace during the forecast period, owing to the growing demand of the product from various end-use industries, such as pharmaceuticals, food & beverages, and others. Health benefitting properties associated with beta glucan is projected to propel its demand among consumers across the globe. Advancement in beta glucan extraction technology is further projected to aid the growth of the market during the forecast years.
Key companies operating in the global beta glucan market are focusing on the launch of novel and innovative products and centering on R&D to find out more sources from where beta glucan can be extracted. Cargill Incorporated, EMD Millipore Corporation, and Tate & Lyle Plc. are some of the key companies performing in the global beta glucan market.
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Beta glucans are sugars that can be obtained from the cell wall of plants, bacteria, algae, and yeasts. Beta glucans are rich source of fibers and hence are very beneficial for human health. Beta glucans are extracted by using a number of extraction processes, yet there is a wide scope for advancements in beta glucan extraction technology and method.
Growing demand for nutritive food products and food supplements to aid health is anticipated to fuel the growth of beta glucan market in the forthcoming years. Increased awareness among food and pharmaceutical product manufacturers about multiple beta glucan sources and adoption of new extraction technologies and methods by them is anticipated to boost the growth of the market in the upcoming years.
Presence of substitutes, such as guar gum and their increasing adoption is expected to hinder the growth of beta glucan market during the forecast period. Increased promotion and marketing of substitute products, coupled with less price of some substitutes is anticipated to obstruct the market growth of beta glucan.
Some of the major companies that are present in the global beta glucan market are Kerry Group plc, Cargill Incorporated, EMD Millipore Corporation, Tate & Lyle plc, Royal DSM, Frutarom Industries Ltd., Biotec Pharmacon ASA, Swedish Oat Fiber AB, Super Beta Glucan, and Garuda International, Inc. among the other players operating in the global beta glucan market.
· Food & Beverages Manufacturers
· Animal Feed
· Personal Care
· North America (U.S., Canada, and Mexico)
· Europe (France, Germany, Italy, Spain, U.K., Russia, and Rest of Europe)
· Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
· South America (Brazil, Argentina, and Rest of South America)
· Middle East & Africa (South Africa and Rest of ME&A)
On the basis of source, the global beta glucan market has been segmented into mushroom, yeast, cereal, and seaweed. Cereal segment, followed by yeast is anticipated to dominate the global beta glucan market. Cereals, such as oat and barley are widely used to extract beta glucan because of their superior functionality and health benefitting properties. Low-cost availability of beta glucan sourced from yeast is one of the prominent reasons that is expected to boost the segment’s growth during the forecast period.
On the basis of application, the global beta glucan market has been segmented into food & beverages, pharmaceuticals, personal care, and animal feed. The demand for beta glucan from the food & beverage segment is projected to witness a swift rise, owing to rising consumer inclination towards food products, health supplements, and beverages that contain beta glucan. Increased product (containing beta glucan) launches by key food & beverage market players is further expected to contribute to the growth of the segment. Pharmaceutical segment is expected to grow at a significant pace during the forecast period, due to increased utilization of the product in drug preparation for health issues, such as obesity, high cholesterol, and others.
Asia Pacific is projected to exhibit decent growth in the global beta glucan market during the forecast period, the contribution of China is expected to be the highest in the market growth of the region. Anticipated increase in the production and consumption of beta glucan in the upcoming years is expected to boost the market growth of the region. Europe is anticipated to dominate the global beta glucan market during the forecast years, owing to the presence of a number of significant market players in the region. Increasing demand for nutraceuticals products, coupled with rising disposable income of the European population is projected to aid the growth of beta glucan market of the region.
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