Market Size of Beta Glucan and Fucoidan Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.08 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Beta Glucan and Fucoidan Market Analysis
The global beta-glucan and fucoidan market is projected to grow at a CAGR of 8.08% during the forecast period (2022-2027)
The global beta-glucan and fucoidan market has been witnessing significant growth due to the increasing health & hygiene consciousness among the consumers globally, owing to the impact of the COVID-19 pandemic. The changing lifestyles, recovering economies, and shift toward natural products have been observed in developing economies, leading to the growth in demand for beta-glucan and fucoidan, not only in food & beverage, personal care, and pharmaceutical products but also in other industrial applications, including animal feed, cosmetics, and biofuel production. Moreover, owing to the wide array of health benefits associated with the usage and consumption of beta-glucan variants, the ingredient is also witnessing a huge demand in nutraceutical supplements, whose potential is further being tested with respect to possessing probable anti-COVID-19 properties.
Over the medium term, the growing application of beta-glucan and fucoidan in nutraceutical supplements is majorly driving market growth across the globe. Evolved consumer trends and rising demand for immunity booster foods and diets have created lucrative opportunities for both ingredients, with the potential to grow rapidly during the coming years. Furthermore, improving the extraction techniques for microalgae cultivation will allow manufacturers to make effective use of beta-glucan microalgae in the food, dietary supplements, and healthcare industries, among others. In this regard, numerous efforts are being carried out by several organizations. These aforementioned factors are expected to contribute to the overall growth of the market during the forecast period.
Additionally, the status of beta-glucan has gradually elevated from a healthy ingredient to a necessity in the soluble fiber product range. Hence, the usage of beta-glucan in functional beverages has grown in demand worldwide. High demand, coupled with a low cost of production, is a key feature that is expected to support beta-glucan and fucoidan manufacturers to enter into new geographies, introduce new products, collaborate with existing key players, and expand the market studied.
