The global beta-glucan market size is expected to reach USD 655.5 million by 2028 according to a new study by Polaris Market Research. The report “Beta-Glucan Market Share, Size, Trends, Industry Analysis Report, By Source (Yeast, Grains & Cereal, Mushroom, Seaweed, Others); By Application; By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The major driving factors of the market include increasing obesity and health disorders, growing health consciousness, and greater awareness regarding the benefits associated with beta-glucan. Increasing disposable income of consumers and increasing shift towards health and wellness products has increased the demand for beta-glucan.
The demand for the supplement has increased during the pandemic owing to its potential to treat COVID-19 and vaccines. There is ongoing research regarding the response offered by the product in preventive immune modulation to avoid COVID-19 symptoms. However, the COVID-19 outbreak has disrupted the supply chain across the globe. Global lockdowns, decreased prices, and a limited workforce has severely impacted the market.
Increasing health consciousness among users and shifting trend towards diet and nutritious food boosts this segment's growth. Governments across the globe have introduced campaigns associated with preventive healthcare, and nutrition and wellness, supporting the growth of this segment.
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Rapid urbanization, increasing concerns, especially after the outbreak of COVID-19, and growing awareness towards health and wellness are driving the segment's overall growth. In addition, the rapidly growing health and beauty service industry in the developing economies has increased the application of the supplement in cosmetics and personal care products.
North America accounted for a significant share of the global beta-glucan market in 2020. High living standards, increasing health awareness, and supportive government regulations support industry growth in this region. However, Asia-Pacific is expected to exhibit significant growth during the forecast period.
The increasing geriatric population coupled with rising awareness regarding the benefits of beta-glucan and increasing demand for dietary supplements fuels the growth in North America. Leading global players are expanding their presence in developing nations of China, Japan, India, and South Korea to tap the growth opportunities offered by these countries.
Some major industry participants include Angel Yeast Co Ltd, Garuda International Inc, Lesaffre Human Care, Cargill Inc, AIT Ingredient, Milliporesigma, Koninklijke DSM N.V., Specialty Biotech Co Ltd, Tate & Lyle Plc, Alltech Life Sciences, Kemin Industries, Frutarom, Super Beta Glucan, Ohly GmbH, and Biotec BetaGlucans AS.
Polaris Market Research has segmented the beta-glucan market report on the basis of source, application, and region:
Beta-Glucan, Source Outlook (Revenue, USD Million, 2016 - 2028)
Beta-Glucan, Application Outlook (Revenue, USD Million, 2016 - 2028)
Beta-Glucan, Regional Outlook (Revenue, USD Million, 2016 - 2028)