Global allulose
market is expected to grow at a significant CAGR of 7.37% in the
upcoming period as the scope and its applications are rising enormously across
the globe. Allulose is a monosaccharide also termed as a “D-psicose”. It is a
rare sugar found naturally in dried fruits like raisins, jackfruit, and figs.
It is similar to sucrose and in terms of taste; it is about 70% as sweet as
sucrose. It is recognized as safe (GRAS) by the FDA. It is calorie-free sugar
as it is absorbed by the body, but not metabolized.
The factors that are playing a major role in
the growth of allulose market are the growing demand for confectionery and
processed frozen food, the rising healthcare awareness among the populace,
growing diabetic population, rising demand for ready-to-eat meals, and growing
working population in urban areas. Allulose market is segmented based on
product type, application, and region.
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Liquid, powder, and other product
types could be explored in allulose in the forecast period. The market may be
categorized based on applications like dairy, beverages, confectionery,
therapeutic food, and others that could be explored in the forecast period. The
therapeutic food sector comprises weight management and diabetic food. The
therapeutic sector accounted for a substantial market share of allulose and is
estimated to lead the overall market in the years to come. The reason behind
the overall market growth could be the rising popularity of weight management
therapeutic food and the growing number of diabetic patients. In addition,
beverages sector is estimated to grow at the highest CAGR in the years to come.
Globally, North America accounted for
the substantial market share of allulose and is estimated to lead the overall
market in the years to come. The reason behind the overall market growth could
be the high demand from consumers, exclusively used as a thickening agent in
several end-use applications, the presence of key manufacturers in this region,
and growing number of obese and diabetic patients in this region. The United
States is a major consumer of allulose in this region.
Europe and the Asia Pacific are also
estimated to have a positive influence on future growth. Europe is the second
largest region with significant market share. However, Asia Pacific is
estimated to grow at the highest CAGR in the forecast period. The aspects that
may be ascribed to the growth comprise rising healthcare awareness and changing
dietary patterns. The developing countries like India and China are the major
consumers of allulose in this region.
The key players of allulose market are
CJ CheilJedang, Matsutani Chemical, and Tate&Lyle. These players are
concentrating on inorganic growth to sustain themselves amidst fierce
competition.
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