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Allulose Market size exceeded USD 90 million in 2022 and is anticipated to witness over 14.5% CAGR from 2023 to 2032, as a result of the increasing consumer shift towards health and low-calorie diets.
The last few decades have witnessed the increased prevalence of diseases related to excessive weight gain, type 2 diabetes, obesity, and hypertension. As per estimates from the World Health Organization (WHO), nearly 422 million people across the globe suffer from diabetes, with the majority residing in low- and middle-income nations. This rising penetration of diseases is set to support the spike in allulose market demand.
Report Attribute | Details |
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Base Year: | 2022 |
Allulose Market Size in 2022: | 90 Million (USD) |
Forecast Period: | 2023 to 2032 |
Forecast Period 2023 to 2032 CAGR: | 14.8% |
2032 Value Projection: | 370 Million (USD) |
Historical Data for: | 2018 to 2021 |
No. of Pages: | 213 |
Tables, Charts & Figures: | 287 |
Segments covered: | Product and Application |
Growth Drivers: |
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Pitfalls & Challenges: |
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The robust growth of the allulose market is supported by favorable policies by regulatory bodies such as, the U.S. Food and Drug Administration (FDA) has approved the use of allulose as an ingredient in a variety of foods and nutrition supplements in the U.S. However, the use of allulose as a key food ingredient still awaits a regulatory approval in Europe. Thus, stringent regulations for the use of allulose as a food additive might hinder the market growth in Europe.
The allulose market from the food application segment is estimated to reach USD 18 million by 2032. The largest consumption of allulose is recorded by the bakery and confectionery industry owing to the increasing demand for healthy and low-calorie product demand.
The swelling popularity of ice creams across the world will assist the consumption of allulose as a non-artificial sweetening ingredient to offer taste and texture of sugar devoid of the calories. Allulose is also used as a table-top sweetener, in dairy & frozen desserts, sauces & dressings, and ice creams & desserts. Liquid forms of allulose are increasingly used in the dairy and frozen desserts industry as they offer a sweeter taste to the items without the addition of sugar.
The allulose market from the powder segment accounted for USD 43 million revenue in 2022 and is expected to grow at 14.5% CAGR during the forecast period, attributed its use as a replacement of powdered sugar and wide usage in sauce, frosting, glaze, dressing & sprinkling activities attributed to its fast dissolvability. Powdered allulose is also used in beverages as a sweeter option and to offer browning, bulking, and freeze-point depression properties.
The demand for powdered allulose in bakery and confectionery products is also likely to flourish in the near future. This growth is due to the increasing consumer inclination toward low-calorie sweeteners has made way for the higher need for innovations for reducing sugar and maintaining great taste. Since this form of allulose is a perfect replacement of powdered sugar given its similar consistencies, it has attracted the attention of numerous health-conscious consumers.
Asia Pacific allulose market size is projected to surpass USD 135 million by 2032 growing at 14.5% CAGR through 2032. The swiftly rising healthcare awareness among consumers in the region has led to the paradigm shift to nutritional diets and improving dietary patterns.
India is the second-largest wheat-producing country in the world, and as allulose is generated from wheat, it is one of the most important producers and consumers of the product in Asia Pacific. Growing utilization of allulose in bakery & confectionery food products, such as biscuits, cookies, low-calorie cakes, and other items in the region is likely to boost the product uptake.
Some of the leading companies involved in the allulose market include :
The key strategies adopted by these companies to optimize their profits include new product launches, mergers & acquisitions, and partnerships. In December 2021, Samyang Corporation joined a global consortium, Allulose Novel Food Consortium (ANFC) to promote the European licensing of Allulose. Cosun Beet, Ingredion and Matsutani Chemical were some other firms that joined the consortium.
The deadly COVID-19 pandemic posed severe medical, economical, and social concerns for businesses across the globe. The food and beverage industry responded to these challenges by placing emphasis on the production of nutrition rich foods that boost immunity against the virus. This factor has helped allulose sales in the food industry. On the other hand, the discrepancies in the global supply chain caused by series of lockdowns during this period pushed businesses to put in extra efforts to secure and sustain their supply networks.
To ensure that their products are distributed effectively throughout all regions, companies are entering into supply chain agreements with dealers and distributors. Over the course of the forecast period, market competition is expected to worsen as manufacturers attempt to use a variety of methods to obtain a competitive edge and boost their profit margins.
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