05 March 2021
Visiongain has published a new report on Beta Glucan Market Report to 2031: Forecasts By Source (Cereals, Seaweed, Yeast, Mushroom), By Category (Soluble, Insoluble), By End-use Industries (Food & Beverages, Personal Care, Healthcare, Animal Feed), By Purity (Below 20%, 20% to 30%, 30% to 50%, 50% to 70%, Above 70%) PLUS Profiles of Leading Beta Glucan Manufacturing Companies and Regional and Leading National Market Analysis, PLUS COVID-19 Recovery Scenarios.
Global Beta Glucan market was valued at US$ XX million in 2020 and is projected to reach at a market value of US$ XX million by 2031. Growing livestock production is one of the major factors supporting market growth of Beta Glucan at present.
COVID-19 Impact on Beta Glucan Market
The outbreak of COVID-19 has brought along a deep recession with it, probably one of the worst recession recorded in history. Industries such as travel & tourism, hospitality, automotive, etc. have faced the sheer brunt of the pandemic since these industries do not fall under the essentials category. Due to the recession, wallets have tightened, and consumers have pulled their purchases. However, the food & beverage, food ingredients, and healthcare industry did not face the sheer brunt of the pandemic since these come under the essentials category. Furthermore, owing to the pandemic, consumers have become more concerned about staying active and healthy in order not to contract the virus, which is how demand for nutraceuticals went up steadily during this phase. People are consuming more of such products with the hopes of staying safe and avoid contracting the virus. In addition, beta glucans are also considered as potential activators of immune cells including natural killer cells, neutrophils and macrophages, which display a favourable effect on the host defense system. Further, beta glucans have been reported to display antiviral activities and influenza virus and HSV-1. During further research, it has been suggested that beta glucans help to reduce the mortality rate associated with COVID-19. Due to lack of vaccine till now, and uncertainty looming over the launch of the vaccines, scientists are researching alternatives that could be used in the treatment of COVID-19 and there is compelling evidence that beta-glucans have the potential to be used for treating COVID-19.
Growing Healthcare Expenditure
Expenditure on healthcare products and services is by far one of the most imperative component in every household. Expenditure on healthcare increases with the increase in income. Discretionary income of consumers has increased steadily over the years, this trend is very much visible in the developing nations where consumers have begun to spend more several products. However, with the rise in income, people seem to be spending more on their health as well. They have shown an inclination towards maintaining a fit and active lifestyle, and during the COVID-19 period, even more so. People have begun to spend more on gyms, and on nutrauceuticals such as beta glucan. Beta glucan is a good source of fiber and they help in reducing high cholesterol, along with improving skin conditions such as bedsores, eczema, and wound among others. Further, beta glucan is widely used for heart diseases as well. The U.S. is one of the prime markets for nutraceuticals, and they are found in several food & beverage products such as sports nutrition products. A growing number of the U.S. population are displaying interest in sports nutrition products such as RTDs, and demand for these products are rising significantly as they are a convenient way to deliver the required protein intake in a human body.
Growing Availability of Raw Materials for Beta Glucan
The popularity of beat glucan is spreading growing significantly across major regions, and the popularity is mainly attributed to the health benefits offered by beta glucan, and due to this the application of beta glucan is increasing in several end-use industries such as food & beverages, healthcare and personal care among others. Due to the growing application base of beta glucan, manufacturers have involved themselves into finding more sources of beta glucan. Cereal is a major source of beta glucan across all countries. Owing to the rising popularity of oats as a major source of beta glucan, production of oats skyrocketed over the past few years, and its wide availability is one of the key factors augmenting market growth beta glucan.
Emerging Nations Pose a Suitable Opportunity for Growth
Emerging nations such as India are growing markets for nutraceuticals. The nutraceuticals market in India is expected to touch the US$ 18 billion mark by 2025. Immunity has become the new buzzword around in the country, and due to the COVID-19 pandemic, demand for nutraceuticals has increased significantly. Further, the government of India is taking up several measures to improve the nutritional intake in the country, with campaigns that deals with the National Health Mission (NHM) and Integrated Child Development Services (ICDS). In addition, consumer behaviour in the country is also responsible for the transformation of the nutraceutical industry in India. Consumption of functional food and beverages, dietary supplements is increasing rapidly in the country, which in turn is expected to drive the future growth of the beta glucan market in the country in the coming years. Further, the country is witnessing a shift from curative to preventive care. Growing healthcare costs have created a concern among consumers. Further, immunity is taking the spotlight due to the outbreak of COVID-19, which is why people are drifting more towards the consumption of nutraceuticals. These factors are expected to drive the future growth of the beta glucan market in India.
Some of the companies profiled in the report include Cargill Inc., Tate & Lyle Plc, Kerry Group Plc, Koninklijke DSM NV, and Frutarom Industries among others. Strategies such as product developments, mergers & acquisitions, partnerships and joint ventures are some of the major strategies adopted by these players in order to ensure long terms sustenance in the beta glucan market. For instance, in March 2019, Cargill Inc. launched its beta glucan product named Barliv. The product contains more than 70% of concentrated barley beta glucan that can be used in nutritional bars, dietary supplements and fortifying beverages among others.
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Growing livestock production is one of the major factors supporting market growth of Beta Glucan at present.