Beta Glucan Market Outlook
Europe is estimated to contribute to the largest share in the global beta glucan market. Major factors driving growth of this market include rising demand for functional foods. According to Government of South Australia, the global functional food market was estimated at US$ 160 bn and Europe accounted for 30% of global functional food sales in 2015. Furthermore increasing research and development spending in the pharmaceutical industry is also expected to boost growth of the beta glucan For instance, according to the EFPIA, in 2015, the total investment in research and development activities in the European pharmaceutical industry, was valued at US$ 41.53 Bn. Additionally, increasing approval of various health claims pertaining to the consumption of beta glucan by government organizations such as European Food Safety Authority and Food and Drug Administration(FDA) is expected to increase the demand for beta glucan. For instance, in 2009, European Food Safety Authority approved that the regular consumption of beta glucans helps maintain normal blood cholesterol concentrations. This in turn, is supporting the overall growth of beta glucan market.
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Asia Pacific is expected to record the fastest growth in the global beta glucan Major factors supporting growth of the market in the region include rising awareness regarding the health benefits of beta glucan among the populace and the steadily growing demand for nutraceutical ingredients. Beta glucan is widely used as a nutraceutical ingredient in protein bars, teas, fruit juices, and smoothies. According to the Coherent Market Insights, in 2016, Asia Pacific held a dominant position in the global nutraceutical ingredients market, with 36.19% market share. Furthermore, beta glucan is used to enhance immunity for those with a weakened body defense system due to treatments such as chemotherapy or radiation. Additionally, it is also used to control the blood sugar and it increases the synthesis of glycogen, in order to control obesity. Thus, the growing prevalence of obesity and diabetes in the region is fuelling the demand for beta glucan. According to the World Health Organization (WHO), 96 million adults, in South-East Asia and 131 million adults in Western Pacific region, were reported with diabetes in 2014.
Beta glucans are natural polysaccharides, majorly found in whole grains such as oats and barley as well as in a variety of mushrooms such as maitake, shiitake, shimeji, and reishi. It is also found in the cell walls of yeast, fungi, algae, and bacteria. Beta glucans are useful in the treatment of cancer, HIV/AIDS, diabetes, high cholesterol, H1N1 (swine flu), hepatitis, asthma, and arthritis. It is also used to the skin for eczema, dermatitis, wounds, wrinkles, burns, and diabetic ulcers. Additionally, beta glucans are extensive used as a fat substitute, immunomodulator, and yeast additive in biodiesel production. The growing demand for beta glucans in the pharmaceutical industry, owing to its medicinal properties, is a major factor, boosting growth of the beta glucans market. However, the instability in the price of beta glucan may negatively affect the market growth.
Among application, the pharmaceuticals segment is estimated to account for the largest share in 2017. The dominance of the segment is majorly attributed to its extensive application in the treatment of various diseases such as cancer, diabetes, asthma, and hepatitis. Furthermore, the food and beverages segment is expected to record the fastest growth during the forecast period (2017 – 2025). Rising consumer awareness regarding the benefits of fiber intake such as controlling sugar and cholesterol level in body coupled with the growing demand for fiber fortified beverages, including fruit smoothies, powdered drink mixes and dairy-alternative drinks, is fuelling the demand for beta glucan in the food and beverages industry.
Market players in the global beta glucan market are adopting various strategies such as merger and acquisitions and product development to strengthen their foothold in the global market. For instance, in December 2012, Koninklijke DSM N.V. added oat beta glucan under the brand name OatWell to their ingredient portfolio and in May 2013, Tate and Lyle Plc. acquired Biovelop International AB, a manufacturing company of oat beta glucan.
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Leading players operating in the global beta glucan market include Tate and Lyle Plc., Koninklijke DSM N.V., Biotec Pharmacon ASA Ltd., Lallemand Inc., Specialty Biotech Co., Cargill Inc., Bio Springer S.A., Associated British Foods Plc., Garuda International Inc., and Angel Yeast Co. Ltd.
Beta Glucan Market Taxonomy
On the basis of source, beta glucan market is segmented into:
On the basis of end-use industry, beta glucan market is segmented into:
- Food & Beverages
- Animal Feed
- Personal Care
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