Is Estimated To Witness High Growth Owing To Increasing Demand for Functional Food and Beverages

The global Beta Glucan Market is estimated to be valued at US$ 551.4 Mn in 2023 and is expected to exhibit a CAGR of 8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Beta glucan is a type of soluble fiber found in various sources such as grains, yeast, mushrooms, and seaweed. It has gained significant popularity due to its potential health benefits, including immune system modulation, cholesterol reduction, and blood sugar control. The growing consumer demand for functional food and beverages that promote health and wellness is driving the market growth. Beta glucan products are widely used as natural ingredients in various food and beverage applications, including bakery, processed food, dairy products, and functional beverages. The increasing consumer awareness about the importance of a healthy diet and the rising prevalence of chronic diseases are further fueling the market demand.

Market key trends:
One key trend in the beta glucan market is the rising demand for nutraceutical and dietary supplements. Beta glucan supplements are widely consumed by individuals seeking to boost their immune system and improve their overall health. These supplements are available in various forms such as capsules, tablets, and powders, making them convenient for consumption. The increasing interest in self-care and preventive healthcare has led consumers to prioritize their immune health, driving the demand for beta glucan-based supplements.


PEST Analysis:

Political: The political factors influencing the beta glucan market include regulations and policies related to the food and beverage industry. Government regulations regarding labeling, quality control, and product safety can impact the market. Political stability and trade policies can also affect the import and export of beta glucan products.

Economic: The economic factors impacting the beta glucan market include GDP growth, disposable income, and consumer spending patterns. The market is expected to grow at a CAGR of 8% during the forecast period, driven by increasing consumer awareness regarding the health benefits of beta glucan and a rise in disposable income in emerging economies.

Social: The social factors influencing the beta glucan market include changing consumer lifestyles and preferences. The demand for functional food products, including those fortified with beta glucan, is increasing due to growing health consciousness among consumers. Moreover, the aging population and rising prevalence of chronic diseases are driving the demand for immune-enhancing ingredients like beta glucan.

Technological: Technological advancements play a crucial role in the beta glucan market. Innovations in extraction techniques and product formulations have improved the quality and efficacy of beta glucan products. Furthermore, advancements in processing and preservation technologies have extended the shelf life of beta glucan-based products, expanding their market reach.

Key Takeaways:

The global beta glucan market is expected to witness high growth, exhibiting a CAGR of 8% over the forecast period, due to increasing consumer awareness regarding the health benefits of beta glucan and a rise in disposable income. North America is anticipated to be the fastest-growing and dominating region in the market, driven by the strong presence of key players and increasing consumer demand for functional food products.

Key players operating in the beta glucan market include Associated British Foods Plc, Biotec Pharmacon ASA, Biothera, the Immune Health Company, Ceapro Inc., Immuno Medic AS, Koninklijke DSM N.V., Super Beta Glucan (SBG) Inc., Groupe Soufflet S.A, Tate & Lyle plc., and Zilor Inc. These companies have a significant market presence and are engaged in strategies such as mergers and acquisitions, partnerships, and product innovations to gain a competitive edge and expand their market share in the growing beta glucan market.

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