Global Beta-glucan Market Revenue to Increase from US$ 282.4 Mn in 2014 to US$ 589.7 Mn by 2025 Due to Increasing Demand for Functional Food & Supplements Across the Globe
Valley Cottage, NY -- (SBWIRE) -- 10/18/2017 -- Future Market Insights (FMI) delivers key insights on the global beta-glucan market in its report titled, "Beta-glucanMarket: Global Industry Analysis and Opportunity Assessment 2015 – 2025". The global beta-glucan market is projected to register a healthy CAGR of 7.0% during the forecast period due to various factors, regarding which FMI offers vital insights in detail.
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On the basis of functionality type, the market has been segmented into soluble beta-glucan and insoluble beta-glucan. The soluble beta-glucan segment accounted for 63.1% share of the global beta-glucan market in 2014, and is expected to register healthy CAGR of 7.1% over the forecast period. Insoluble beta-glucan segment accounted for 36.8% share of the global beta-glucan market in 2014, and is expected to register CAGR of 6.8% over the forecast period.
On the basis of source type, the market has been segmented into cereal, yeast and others (mushroom). The cereal segment accounted for 45.2% share of the global beta-glucan market in 2014, and is expected to register healthy CAGR similar to that projected for the global beta-glucan market over the forecast period.
The cereal segment is sub-segmented into oats and barley. Revenue contribution of oats was 69.3% in 2014 and is projected to decrease to 68.8% by 2025, gaining 40 basis point share (BPS) and registering a CAGR of 7.1%. Furthermore, revenue contribution of barley was 30.7% in 2014, and is projected to increase to 31.2% by 2025, gaining 50 BPS and registering a CAGR of 7.3%. Yeast segment is expected to register CAGR of 6.9% between 2015 and 2025 and others (mushroom) segment is expected to register a CAGR of 6.6%, losing 30 BPS.
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On the basis of application type, the market has been segmented into food and beverage, bakery products, health and dietary supplements, dairy and frozen products, cosmetics and personal care and others (animal feed). The health and dietary supplement segment accounted for 33.7% share of the global beta-glucan market in 2014, and is expected to register healthy CAGR of 7.1% over the forecast period.
Growth of the global beta-glucan market is mainly driven by rising health awareness and new functional food product launches, growing disposable income, increasing promotional activities and growing technological advancements in beta-glucan extraction techniques. Other trends driving market growth include expansion and product enhancement strategies by various players in the market.
This report covers trends driving each segment and respective sub-segments and offers analysis and insights of the potential of the beta-glucan market in specific regions. Western Europe dominated the beta-glucan market with over 36.1% market share in 2014, and is anticipated to remain dominant by 2025. North America and Asia Pacific Excluding Japan collectively accounted for over 40% of the total beta-glucan market share in 2014. Among all the regions, Western Europe is anticipated to register the highest CAGR between 2015 and 2025, followed by North America due to increasing health concerns and government approvals in these region.
Key players in the global beta-glucan market include Associated British Foods Plc., Biothera the Immune Health Company, Ceapro Inc., and Koninklijke DSM N.V. Major participants such as Biothera Inc. and Tate and Lyle focus on research and development activities to enhance product portfolio in order to sustain in the competitive market. In addition, these key players focus on expanding exclusive functional food product portfolio through acquisition of various raw materials and end-product manufacturing companies with the objective to enhance market position. In early 2015 for instance, First Endurance launched multi-vitamin product MuliV-Pro using beta-glucan derived from Wellume Yeast, a product from Biothera the Immune Health Company. This product helps to improve athlete's performance by supporting immune health.