Beta Glucan Market Insight
The global beta glucan market was valued at USD 350 million in 2017 and is expected to reach a market value of USD 500 million by 2023, at a CAGR of 7% over 2018-2023 (the forecast period).
The growing health consciousness among consumers, who are choosing natural and process-free food over the processed options available in the market, along with the increasing consumer purchase power, is directing the beta-glucan industry toward the health food market.
This awareness in the consumers is due to the extensively marketed health benefits of beta-glucans and the product enhancement strategies implemented by many established companies. Research on techniques facilitating cost-effective extraction of beta glucans, helps market supply.
The report provides a detailed analysis of the beta-glucan market that is broadly segmented into types, based on the source of extraction. The physiochemical properties of beta-glucan vary depending on their source, along with their efficacy in applications. The segments based on sources are - cereals, yeast, mushrooms (fungi), bacteria, etc. The beta-glucan market is further segmented based on the physical property of their degree of solubility as - soluble and insoluble types. Based on the type of application, the market is segmented into - food & beverage, health & dietary supplements, Cosmetics, and others.
The market has been geographically segmented into North America, Europe, Asia-Pacific, and the Rest of the world, with Europe having the largest consumer base, globally. The increasing consumer awareness in the growing economies of Asia-Pacific, has made it a region of immense potential and opportunities. However, the price sensitivity in this region has considerably hindered the growth of the market.
The report also analyses the factors driving the beta-glucan industry. The increasing consumption of nutraceuticals and functional food, their usage as immunomodulators (immunomodulators are chemical agents that modify the immune response or the functioning of the immune system), and increased usage as fat substitutes - are the major drivers of the industry. The usage of beta-glucans as yeast additives in biodiesel production is a key factor propelling the beta-glucan industry growth. High cholesterol levels, rising obesity, and diabetes have increased the usage of beta-glucan in medicines. However, inconsistent regulatory frameworks across nations, along with a shortage of raw materials due to competing industries, may hinder the beta-glucan market in reaching its maximum potential.
Some of the prominent players in the beta glucan market include Associated British foods, Tate & Lyle, DSM, Kerry group, and few others.
The market players have been expanding their geographical presence by acquiring or merging with the manufacturers in foreign markets. New product launches is the most preferred growth strategy, followed by acquisitions and new agreements/partnerships in the global β-glucan market.
Companies adopting various strategies, such as new product launches and acquisitions of smaller companies, enables them to acquire a market share, as it increases their presence, leading to generating higher revenues. Tate & Lyle mostly follows strategies like expansion and acquisitions. Tale & Lyle took complete control of the oat producing, Biovelop Business, including its production facility in Kimstad, Sweden, and expanded capacity at its oat ingredients manufacturing facility.
The report covers the following key factors:
- Market, Trends, and Dynamics
- Latest News and Developments
- Porter’s Five Forces Analysis
- Investment Scope
- Deep-dive Insights
1.1 Research Methodology
1.2 Definition of the Market
1.3 Report Description
2. Key Findings of the Study
3. Market Overview
3.1.1 Growing Interest about Functional Ingredients in Food
3.1.2 Decreasing Prices of Raw Materials
3.2.1 Inconsistent Regulatory Structure across Countries
3.2.2 Increasing Applications of Yeast Leading To Decrease in the Availability of Yeast for beta- Glucan Manufacturing
3.3.1 Expansion of Functional Food Industry in Emerging Economies
3.4 Porter's Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of New Entrants
3.4.4 Threat of Substitute Products and Services
3.4.5 Degree of Competition
4. Market Segmentation
4.1 By Source Type
4.2 By Type
4.3 By Application
4.3.1 Food and Beverages
22.214.171.124 Bakery Products
126.96.36.199 Dairy Products
4.3.3 Health & Dietary Supplements
4.4 By Geography
4.4.1 North America
4.4.4 South America
188.8.131.52 South Africa
5. Competitive Landscape
5.1 Most Preferred Strategies by Key Players
5.2 Most Active Companies in the Past Five Years
5.3 Market Share Analysis
6. Company Profiles
6.1 Associated British Foods Plc
6.2 Biotec Pharmacon ASA (Biotec Betaglucans AS)
6.3 Tate & Lyle Oat Ingredients
6.4 Lesaffre Human Care
6.5 Angel Yeast Co. Ltd
6.6 Immuno Medic
6.7 Super Β-glucan (SBG) Inc.
6.8 Ceapro Inc.
6.10 AIT Ingredients
6.11 Algal Scientific Corporation
6.12 Kerry Group
6.13 NOW Foods