Market Trends of South America Beta-Glucan Industry
Increased Demand for Algae derived Beta Glucan in Dietary Supplements
South America has recently witnessed a significant demand for dietary supplements containing beta-glucan. These benefit health, particularly in boosting immunity and supporting heart health. The nutritional food and supplement market is witnessing an increased demand for the algae-derived beta-glucan. Consumers are spending more on their health and fitness, and governments of different countries in the region are increasing their healthcare budgets. For instance, in 2022, the Brazilian government spent more than 136 billion Brazilian reals on healthcare.
Moreover, manufacturers are also capitalizing on the growing demand by introducing a variety of dietary supplements that incorporate beta glucan algae-derived. The algae-derived beta-glucan is simple and available cheaper than the other beta-glucans, such as beta-glucan derived from yeast. Furthermore, improving the extraction techniques for microalgae cultivation will allow manufacturers to use beta-glucan microalgae effectively in food, dietary supplements, and healthcare, among others. In this regard, numerous efforts are being carried out by several organizations. The abovementioned factors will contribute to the market overall growth shortly.
Brazil holds a Prominent Share in the Market Studied
Growing consumption of nutraceuticals and functional food, its usage as an immunomodulator, and increased usage as fat substitutes are driving the demand for the beta-glucan market in the country. In Brazil, the growing consumer acceptance of dietary fiber supplements and functional food products is expected to support the application of beta-glucan in human nutrition. The Brazilian population has had a history of a high prevalence of chronic diseases like hypertension, diabetes, and metabolic disorders. According to Glanbia Nutritionals, more than 50% of consumers planned to become more active after the pandemic, which is expected to increase the demand for dietary supplements in the coming years. Regulatory approvals in the region are expected to fuel the demand for beta-glucan over the forecast period. The Brazilian health regulatory agency, ANVISA, does not allow manufacturers to produce claims on the packaging saying ‘certain dietary supplement is good for the immune system’ unless the claim has been scientifically proven. Owing to this, ingredient manufacturers are focusing on developing products with various health benefits and receiving approvals supporting food manufacturers in the country. Key players in the South American beta-glucan market include Biothera Inc., Biospringer, and Lesaffre. Furthermore, the Government of Brazil is spending on healthcare to promote a healthy lifestyle among its citizens. These factors are boosting the beta-glucan market in Brazil.
