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According to a latest research by Persistence Market Research, the algae sourced beta-glucan market is expected to grow at a significant rate during the forecast period 2021-2026.
Beta-glucans are compounds found in algae, fungi, bacteria, and few plants which help in reducing cholesterol, help to heal skin conditions. It is also capable of supporting and enhance the immune system.
The manufacturers produce beta-glucans from microalgae called Euglena Gracilis. The algae-sourced beta-glucan is a simple, bioavailable, and affordable product which makes it a good replacement for other functional foods.
The rising desire among the consumers for better alternative products that have no negative effects on the body will drive the global market demand for algae-sourced beta-glucan. The major driver of the algae-sourced beta-glucan market is the increasing awareness about the health benefits of beta-glucan. The growing acceptance of innovative food products in the industry will fuel market growth.
The consumer preference for clean label and non-GMO products is increasing and this can be understood from the buying patterns, this is a positive sign for the market growth. Based on the current market trend the demand for naturally sourced products is expected to increase at a rapid rate. The increasing application of beta-glucan in different products will be favorable for the market.
The algae-sourced is widely used in the food & beverage industry, which was one of the hardest hit by the pandemic. There was a disruption in the supply chain and the manufacturing of the products became difficult with the worldwide lockdown. The manufacturers of algae-sourced beta-glucan faced difficulties to cope up with the demand.
Now as many countries have relaxed the restrictions, the manufacturers are trying to produce more to meet the demand. The importance of consuming healthy and safe food products among people is also increasing.
The demand for products with more functional attributes is increasing with the increasing population of health-conscious consumers. The algae-sourced beta-gluten will see a favorable demand in the coming years despite the spread of Covid-19.
The availability of substitutes such as Yeast-sourced beta-glucan, beta-glucan from mushroom, and beta-glucan sourced from plants like oats and barley might hamper the growth of algae-sourced beta-glucan. The sales growth of the product will be affected with more and more companies launching alternatives products.
The applications of beta-glucan in different industries like food, personal care, and pharmaceutical are expected to impact the market growth. The demand for healthy food products is increasing in the developing countries in Asia, this will offer lucrative opportunities for the key manufacturers of algae-sourced beta-gluten.
The interest in functional foods and nutraceutical products is increasing among the young population around the world which will boost the growth.
The North American beta-glucan market is highly fragmented due to the presence of many global companies. The U.S. market in the region will provide offer more growth opportunities to the manufacturers.
The manufacturers in this region are focusing on marketing activities to create awareness about the health benefits of algae-sourced beta-glucan. The key players in this region are also emphasizing product innovation to cater to the algae-sourced beta-glucan for different applications. These factors will majorly influence the market growth in North America.
The Asia Pacific market will provide favorable opportunities for the growth of algae-sourced beta-glucan. New market trends such as the consumption of natural products and clean label products are gaining popularity in developing countries. These trends will contribute significantly to market growth.
The government initiatives for the production of healthy products and increasing investments in the food sector will be advantageous for manufacturers of algae-sourced beta-glucan.
Some of the key players in the algae-sourced glucan market are
The key players in the market are focusing on research and development activities to develop more innovative products to stay in the competition. The major manufacturers are also focusing on creating awareness about the health benefits of algae-sourced beta-glucan which will further help to increase sales.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
