Global Allulose Market - 2022-2029

Global Allulose Market - 2022-2029

Market Overview

The global allulose market is valued at USD XX million in 2021 and is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Allulose is a low-energy monosaccharide sugar sweetener found in trace amounts in many products. When compared to sucrose, allulose is about 70% sweeter. Allulose is a beneficial element with benefits such as reduced insulin resistance, enhanced hypoglycemia control, and antioxidant improvement and generation in the human body. Allulose has a morphological resemblance to sugar and has the same taste, texture, and look like sugar. However, it is calorie-free. Allulose is becoming more popular among city dwellers concerned about their health. Food manufacturers commonly use allulose to give bulk and texture to their products and function in conjunction with other sweeteners. It also has a low glycemic index, which means it doesn't raise blood sugar levels after eating and is therefore preferred by diabetic people, resulting in significant market growth. The global allulose market is segmented by application, with allulose being used in pharmaceuticals as a gelling agent in medicines and drugs, savoury foods like soups, sauerkraut, sauces, toppings, pickles, and salads, and beverages like health drinks, soft drinks, and others.

Market Dynamics:

The rise in demand for sugar substitutes

The market has been expected to surge in the coming years, due to the rise in the demand for sugar alternatives, globally. In the past few years, there has been an increase and acceleration in the number of health-conscious and fitness freak consumers, worldwide. There had been a rise in the demand for natural and healthier sweeteners and sugar substitutes in the food and beverage industry. In May 2021, according to Tate & Lyle, the demand for allulose had exceeded the company’s current supply. The company had been planning to exceed and enhance their products to meet the product’s demand. The company had also stated that there had been an increase in the demand for low-calorie sweetener and sugar substitutes, which had been expected to propel the allulose’s market growth. Moreover, since the FDA’s decision to remove and exclude allulose from the added and total sugar declarations on the Nutrition Facts panel, the demand had risen at an exponential rate. The product has been approved by a limited number of nations, and only a decent number of firms had been producing the product. In the year 2020, The FDA had announced that it had finalized allulose guidance and had been requesting information on other related sugars, that are widely different from traditional sugars.

Market Segmentation:

The use of powdered allulose will be driven by the growing demand for functional and convenience foods

In 2021, the powdered category will lead the global allulose market. Powdered allulose products dominate the market, with liquid and crystal allulose products following closely. Powdered products go well in yogurts, smoothies, and other beverages. Allulose can also be present in low-calorie foods such as yogurt, ice cream, bakery goods, and other low-calorie items that rely heavily on powdered sugar. As a thickening and stabilizing ingredient, powdered allulose is widely used in bakery items such as biscuits, cakes, rye bread, and meat dishes. As a result, many revenue creations for powdered allulose are expected to increase significantly across the globe over the forecast period, enhancing the allulose industry's growth. The powder form is usually utilized in the production process due to its strong compatibility with other raw materials, fueling sector expansion. The growing popularity of functional foods and convenience foods is driving up demand for functional additives like powdered allulose, which provides health benefits without compromising food taste or sensory quality.

Food, bakery & confectionery, table-top sweetener, dairy & frozen desserts, sauces & dressings, ice creams & desserts, beverages, and medicines are the applications that make up the global allulose market. Due to features such as better moisture content, increased water retention rate, and softness when used, the bakery & confectionery category is predicted to have the greatest market share at the start of the forecast. Furthermore, changing consumer lifestyles and increased product uptake in terms of bread, pastries, and cakes are predicted to consolidate the latter's significant market position at the start of the forecast period.

Geographical Penetration:

North America is dominating region during the forecast period

The North American allulose market, led by the United States and Canada, is predicted to increase significantly over the forecast period, owing to rising demand from the food and beverage industry in the region. In 2021, the US food and beverage market was expected to exceed USD XX billion, indicating considerable development prospects for allulose producers. The regional market is projected to expand due to shifting food choices and increased consumer awareness of the need to live a healthy lifestyle. In addition, favorable product regulations will propel the market forward. For example, in 2019, the FDA authorized the exclusion of allulose from the definition of added sugars.

The allulose market in Europe is dominated by France, Italy, the United Kingdom, and Germany. Manufacturers are putting in a lot of effort to access the European market. European rules demand extra proof of a product's safety and lack of major negative impacts on the human body. Due to the stringent regulatory environment in Europe, the manufacturers have submitted a petition for permission to market the product. The low-calorie food will be available in Europe, but it will take some time because the sweetener must first be approved as a Novel Food by the European Commission.

Competitive Landscape:

Anderson Worldwide Group, Tate & Lyle, Matsutani Chemical Industry Co. Ltd., CJ CheilJedang, Quest Labs, and others are among the prominent competitors identified across the value chain of the global allulose market. The market is predicted to grow by diversifying its product portfolios in the worldwide allulose industry. General Mills announced the launch of Good Measure, a revolutionary brand of low-calorie snacks, in June 2021. Almond & Dark Chocolate, Peanut & Dark Chocolate, and Blueberry and Almond are among the company's three types of bars. The bars contain less sugar, with most of the sweetness coming from the rare sugar allulose. These developments and trends are projected to have a beneficial effect on the market. Furthermore, according to Tate & Lyle, demand for allulose has outstripped current supplies in May 2021. To meet the product's demand, the corporation planned to exceed and improve its offerings. The company also noted that demand for low-calorie sweeteners and sugar alternatives had increased, which was projected to boost allulose's market growth.

COVID-19 Impact:

Positive impact on the global allulose market

The global allulose market has benefited from the COVID-19 pandemic. The rapid spread of the coronavirus pandemic sent shockwaves worldwide, making people increasingly health-conscious. White sugar is now well recognized as a gradual poison that depletes an individual's health over time. The COVID-19 pandemic made people realize how important it is to live a healthy lifestyle and have good immunity against this virus and any future threats. Because allulose, a natural sweetener, is a healthier alternative to white processed sugar, its demand has recently increased. Fear of catching the COVID-19 illness has fueled the short-term expansion, necessitating a reduction in all non-healthy food intake that jeopardizes an individual's immunity. In the long run, the physical and psychological effects of the pandemic have caused individuals to reconsider their lifestyle choices. As a result, they are contemplating healthier options across the board to be incorporated into their lives going forward.

Why Purchase the Report?

Understand the current market scenario and viability of global allulose market over the forecast period

Visualize the composition of the global allulose market in terms of form, and application to identify major players, growth potential, and market strategies

Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period

Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study

Excel data sheet with valuable data points of the global allulose market – Regional and Country level segmentation

Product mapping in excel for the key products of all major market players

Market Share Analysis covering business revenues ($) and revenue share (%) of key market players

The global allulose market report would provide an access to approximately 55 market data tables, 45 figures and 190 pages

Target Audience:

Food and Beverages Manufacturers

Bakery & Confectionery Companies

Industry Investors

Education & Research Institutes

Research Professionals