Princeton, NJ -- (SBWIRE) -- 06/12/2018 -- The beta-glucan market is projected to grow at a CAGR of 7.57% from 2017, to reach USD 476.5 Million by 2022. The market has become more diversified in recent years. The demand for food & beverages and pharmaceuticals is increasing, which is positively driving the demand for beta-glucan due to its health-promoting and prebiotic properties. With the increasing consciousness and concern about health & wellness, the demand for multifunctional beta-glucan is expected to increase in the coming years.

On the basis of category, the global market was dominated by soluble beta-glucan, followed by insoluble, in terms of value, in 2016. The rising standards of living due to improved economic conditions are expected to fuel the growth of beta-glucan, which in turn is driving manufacturers to increase the production, which is subsequently driving growth in the soluble category.

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The beta-glucan market, on the basis of source, is segmented into cereal, yeast, mushroom, and seaweed. Cereal and yeast are the major sources of beta-glucan. Beta-glucan from cereal such as oat and barley dominated the market in 2016. Barley fiber plays a beneficial role in improving human health. Europe dominated the market for beta-glucan extracted from cereal in 2016. The North American market is projected to grow at the highest CAGR for beta-glucan extracted from yeast.

The beta-glucan market, on the basis of application, is segmented into pharmaceuticals, food & beverages, personal care, and animal feed. The pharmaceuticals segment accounted for the largest market share in 2016; yeast beta-glucan is increasingly considered as a nutraceutical ingredient for its positive effect on the immune system. The food & beverages sector is projected to grow at the highest CAGR during the forecast period. Popular uses for beta-glucans in the beverage category include fruit smoothies, dairy-alternative drinks, and powdered drink mixes.

The European market accounted for the largest share for beta-glucan in 2016, owing to the increase in the demand for beta-glucan in countries such as Germany, the U.K., and France. However, North America is projected to be the fastest-growing market during the forecast period due to the growing consumer preference toward nutritious & healthy food products.

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The major restraining factor for the beta-glucan market is the inconsistency in regulatory norms governing beta-glucan. Health claims also differ at the country level, thereby hindering the usage of beta-glucan in pharmaceuticals as well as food & beverages. Another challenge faced by the beta-glucan industry is the high cost of extraction.

Tate & Lyle (U.K.), one of the prominent players in the beta-glucan market, is acquiring new bio-science-based companies to focus on developing modified beta-glucan products and technologies. The company operates through two global divisions—specialty food ingredients and bulk ingredients. Beta-glucan products are offered under the company's specialty food ingredient segment.

The company has a strong presence in the U.S. and countries of Europe, with a foothold in Latin America and Asia-Pacific, and 30 location worldwide. It operates globally through its subsidiaries such as Tate & Lyle Argentina SA, Tate & Lyle Sweden AB, Tate & Lyle Brasil do SA, Tate & Lyle Chile Commercial Ltd, Tate & Lyle Trading (Shanghai) Ltd. (China), Tate & Lyle Italia Spa, Tate & Lyle Netherlands B.V., and Tate & Lyle Ingredients Americas, LLC (U.S.).

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