The global beta-glucan market is expected to reach USD 727.2 million by 2025, according to a new report by Grand View Research, Inc. The industry is anticipated to grow, primarily on account of its increased application in industries, including nutraceutical, functional food and pharmaceutical.
The consumers in the industry lay high emphasis on the source of the product. In addition, the overall quality is generally determined by the consumers through the certifications associated with the product. The industry is characterized by the presence of a notable regulatory framework with regulations related to processing, packaging, and transportation of the product.
Manufacturers are inclined toward use of innovative extraction methods such as AME, dry fractionation to increase the concentration of bioactive ingredients in the extract in an attempt to increase the customer base. Rising number of groceries, retail stores, and supermarkets offering the products are expected to trigger the industry growth.
There is an upsurge in the usage of seaweed for the extraction process with heavy investment noted by the companies which is anticipated to drive the industry growth over the forecast period. Mushroom is known to have more than 30 varieties, and is available in abundance across the globe, thereby benefitting the industry.
Further key findings from the report suggest:
- Mushroom sourced beta-glucan is expected to be the fastest-growing segment, in terms of revenue, registering a CAGR of 7.7% from 2017 to 2025 owing to the superior health benefits offered by the large varieties of mushroom grown for manufacturing different beta glucan products
- Insoluble product segment is expected to exhibit a CAGR of 6.5%, in terms of volume, on account of high demand for the product for use as an ingredient in the nutraceutical industry and pharmaceutical formulations. Insoluble forms of the product are largely consumed as a purgatory drug owing to its property in drug formulations.
- The industry in Asia Pacific is anticipated to exhibit the fastest growth, registering a CAGR of 7.5% from 2017 to 2025 on account of rising awareness among population towards the consume naturally sourced pharmaceutical preparations
- The volume for the product used for manufacturing food & beverages, such as bakery, functional foods, accounted for 32.1% of the global consumption in 2016, driven majorly by consumption of such products by the younger population
- The industry is exhibiting a high growth potential, due to which key players are focused towards the development of advanced formulations in that provide superior health benefits in a bid to cash in on the rapidly developing market