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| Global Beta Glucan Market |
The global Beta Glucan Market is estimated to be valued at US$ 551.4 Mn in 2023 and is expected to exhibit a CAGR of 8% over the forecast period of
2023-2030, as highlighted in a new report published by Coherent Market
Insights.
Market Overview:
Beta glucan is a type of soluble dietary fiber that is derived from sources
such as oats, yeast, fungi, barley, and seaweed. It is known for its various
health benefits, including boosting the immune system, reducing cholesterol
levels, and maintaining blood sugar levels. The increasing consumer awareness
about the health benefits of beta glucan and the rising demand for functional
food products are driving the growth of the market. Additionally, the growing
prevalence of chronic diseases, such as diabetes and obesity, is further
fueling the demand for beta glucan-based products.
Market Key Trends:
One of the key trends in the Global
Beta Glucan Market is the increasing use of beta glucan in the
cosmetics industry. Beta glucan is known for its moisturizing and anti-aging
properties, which make it a popular ingredient in skincare and cosmetic
products. It helps in improving the elasticity of the skin, reducing wrinkles,
and enhancing the overall appearance of the skin. The growing demand for
natural and organic skincare products is leading to the incorporation of beta
glucan in various cosmetic formulations. This trend is expected to drive the
growth of the beta glucan market in the coming years.
Porter's Analysis
Threat of new entrants: The beta glucan market faces a moderate threat of new
entrants. While the market is expected to witness high growth, the presence of
established key players and the requirement of significant investment in
research and development acts as a barrier for new entrants.
Bargaining power of buyers: The bargaining power of buyers in the beta glucan
market is relatively high. Buyers have access to multiple suppliers and can
switch between them easily, putting pressure on prices and demanding quality
assurance.
Bargaining power of suppliers: The bargaining power of suppliers in the beta
glucan market is moderate. While there are multiple suppliers available, some
of them may have a strong market presence and brand recognition, giving them a
certain level of power in negotiations.
Threat of new substitutes: The threat of new substitutes for beta glucan is
low. Beta glucan is a unique compound that offers various health benefits and
has a wide range of applications, making it difficult for substitutes to
replicate its properties.
Competitive rivalry: The competitive rivalry in the beta glucan market is high.
The market is characterized by the presence of several key players who are constantly
innovating and competing for market share. Price, quality, and product
differentiation play crucial roles in the competitive landscape.
Key Takeaways
The global beta glucan market is expected to witness high growth, exhibiting a CAGR of 8% over the forecast period of
2023-2030. This growth is primarily driven by factors such as increasing
consumer awareness regarding health benefits, growing demand for functional
food and beverages, and the rising prevalence of chronic diseases.
In terms of regional analysis, North America is projected to be the
fastest-growing and dominating region in the beta glucan market. This can be
attributed to the growing consumer inclination towards healthier food choices,
a well-developed healthcare infrastructure, and the presence of key market
players in the region.
Key players operating in the beta glucan market include Associated British
Foods Plc, Biotec Pharmacon ASA, Biothera (the Immune Health Company), Ceapro
Inc., Immuno Medic AS, Koninklijke DSM N.V., Super Beta Glucan (SBG) Inc.,
Groupe Soufflet S.A (AIT Ingredients), Tate & Lyle plc. (Tate & Lyle
Oats Ingredients), and Zilor Inc. (Biorigin). These key players are focusing on
product innovations, strategic partnerships, and acquisitions to strengthen
their market position and cater to the growing demand for beta glucan products.
In conclusion, the beta glucan market is anticipated to experience significant
growth in the coming years. The market is highly competitive, with key players
striving for innovation and differentiation. The North American region is
expected to dominate the market due to increasing consumer awareness and a
favorable healthcare infrastructure.
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