The Asia-Pacific beta-glucan market is estimated to be USD 67.26 million in 2017 and is expected to reach USD 129.64 million by 2023, with a CAGR of 9.3%. China dominated the beta-glucan market in the region, with a value of USD 17.62 million, in 2017, followed by Japan.
There is a new development regarding the use of “Chaga mushroom extract," which is rich in polysaccharides, beta-d-glucans, phytosterols, betulin and betulinic acid (triterpenes), antioxidants and SODs. The health benefits of the Chaga mushroom extract are numerous, many of which can be attributed to its immunity boosting ingredients and antioxidants. These are being used in the making of beta-glucan products.
Factors driving the beta-glucan industry are the increasing consumption of nutraceuticals and functional food, its usage as immunomodulator (immunomodulators are chemical agents that modify the immune response or the functioning of the immune system) and increased usage as fat substitutes. The increased usage as a fat substitute and as yeast additive in biodiesel production, are the other key factors propelling the beta-glucan industry growth. High cholesterol levels, rising obesity, and diabetes have increased the usage of beta-glucan in medicines.
An increase in the cellulosic bio-fuels usage, coupled with the growing popularity and demand for probiotic functional food among the consumers in Asia-Pacific, have led to the rise in demand for beta-glucan. Moreover, the demand for beta-glucan products has increased due to a change in the eating patterns and a rise in the consumption of processed food, along with high disposable incomes in the Asia-Pacific countries. Mushroom-based beta-glucan is used to treat cancer, throughout Asia-Pacific, in the form of a functional food. In Asia-Pacific, every individual prefers a healthy immune system, to prevent various complex conditions and diseases. Beta-glucan is a natural immune booster, intended to protect against all interruptions that may bring about damage to the body. There are abundant opportunities in the beta-glucan market, in developing regions, such as India, China, and others, owing to the emerging economies and the governments’ initiatives.
The shortage of raw material, like molasses, due to its increasing application in wine blending and industrial applications, is expected to hinder the beta-glucan market growth. The production of yeast is dependent on the availability of molasses. The yeast market is facing tough competition from other industries for raw materials. The bio-fuel industry is also threatening the growth of the yeast margin as it operates on high margins. The availability of other feasible substitutes is also hampering the beta-glucan industry.
The human body does not produce beta-glucan, naturally. Hence, the only way to get is through outside sources, such as baker's yeast, shiitake mushrooms, and cereal grains that include barley, oats, rye, and wheat. Hence, beta-glucan is segmented by source type into cereal, yeast, mushroom, bacteria. By type, the market is segmented as soluble and insoluble. The cereal segment accounted for 44.2% share of the beta-glucan market, in 2016, and is expected to register a healthy CAGR of 6.8%. This segment is further segregated into oats barley and others such as wheat, sorghum, rye, of which, oats is the fastest-growing segment, with a CAGR of 6.5%. By type, the market has been segmented into soluble beta-glucan and insoluble beta-glucan, with the soluble beta-glucan segment having the maximum share.
Regarding applications, the beta-glucan market is segmented into food & beverages, bakery, dairy & functional food products, nutraceuticals and others, including cosmetics, biodiesel, and animal feed. The food & beverage segment leads the overall market, currently, which holds around 25% of the beta-glucan market.
Asia-Pacific consists of China, India, Japan, Australia and many other countries. China is the largest market for beta-glucan in the region, followed by Japan, Australia and India.
Trends that are driving the market growth include expansion and product enhancement strategies by various players. The food industry is constantly witnessing innovations in the healthy-food category, in order to meet the rising demand for natural additives. There is also an advanced nutraceutical market that has many product offerings, with β-glucan as the primary ingredient.
The prominent players present in the Asia-Pacific beta-glucan market are –
- Zhejiang Yaofi Bio-Tech. Co., Ltd.
- Tate & Lyle Oat Ingredients
- Lesaffre Human Care
- Biothera Inc.
- Garuda International INC.
- Associated British Foods Plc
- AB Mauri
- Chr. Hansen
- Tate & Lyle Oat Ingredients
- Royal DSM N.V.
- AIT Ingredients (The Soufflet Group)
- Biotec Pharmacon ASA (Biotec BetaGlucans AS)
- Bio Springer
- Angel Yeast Co. Ltd.
Due to the presence of several players in the market, there is high competition, with the players wanting to capture major market shares. Hence, the companies exert pressure on each other and try to limit their competitor's profitability. However, high economic base and high growth rate increase the competitive rivalry in the industry. Stringent exit barriers of the industry and product innovations make the competition high.
The major players are focusing on product innovations. For example, Tate & Lyle’s Avenacare™ Oat Beta-glucan is an active ingredient containing oat beta-glucan, which is specifically designed for use in cosmetics and personal care applications. It has been used to reduce the appearance of skin redness, and in hair products for hair tensile strength. Avenacare™ is a specially-developed liquid form of active oat beta-glucan, produced from Swedish oats, using our patented technology without the addition of chemicals.
Currently, the beta-glucan segment is witnessing a large-scale demand, owing to the change in eating patterns, which results in the rise in consumption of processed and functional foods. There are huge opportunities in the cosmetic and pharmaceutical industries, due to the growing application of beta-glucan.
Key Deliverables in the Study
- Market analysis for the Asia-Pacific beta-glucan market, with region-specific assessments and competition analysis on a regional scale.
- Market definition along with the identification of key drivers and restraints.
- Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a regional scale.
- Extensively researched competitive landscape section with profiles of major companies along with their market share.
- Identification and analysis of the macro and micro factors that affect the Asia-Pacific beta-glucan market on a regional scale.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definitions
2. Research Approach and Methodology
2.2 Research Design
2.3 Study Timeline
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering & Econometric Modelling
2.4.4 Expert Validation
3. Market Overview
3.1 Market Dynamics
188.8.131.52 Usage as Immunomodulator
184.108.40.206 Usage in Nutraceutical and Functional Food Industry
220.127.116.11 Increase in Cellulosic Bio-Fuels Usage
18.104.22.168 Shortage of Major Raw Materials (Molasses)
22.214.171.124 Easy Availability of Feasible Substitutes
126.96.36.199 Increasing Usage of Beta Glucan in the Processed Food Industry
188.8.131.52 Application in Cosmetic and Pharmaceutical Industry
3.1.4 Porter's Five Forces Analysis
184.108.40.206 Bargaining Power of Suppliers
220.127.116.11 Bargaining Power of Buyers
18.104.22.168 Threat of New Entrants
22.214.171.124 Threat of Substitute Products and Services
126.96.36.199 Degree of Competition
4. Market Segmentation
4.1 By Source Type
188.8.131.52 Others (Wheat, Ray, Shorgum)
4.2 By Type
4.3 By Application
4.3.1 Food & Beverages
4.3.2 Bakery Product
4.3.3 Dairy Product
4.3.7 Animal Feed
4.4 By Geography
5. Competitive Landscape
5.1 Strategies Adopted by Key Players
5.2 Most Active Companies in the Past Five Years
5.3 Market Share Analysis
6. Company Profiles
6.1 Zhejiang Yaofi Bio-Tech. Co.,Ltd
6.2 Associated British Foods Plc
6.3 Tate & Lyle Oat Ingredients
6.4 Lesaffre Human Care
6.6 Biothera Inc
6.7 Garuda International INC
6.9 Royal DSM N.V.
6.11 AIT Ingredients (The Soufflet Group)
6.12 Biotec Pharmacon ASA (Biotec BetaGlucans AS)
6.13 Bio Springer
6.14 Angel Yeast Co. Ltd.
6.15 AB Mauri.
6.16 Chr. Hansen