Allulose Market Size Estimation, Growth Rate, and Future Trends
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.
(firmenpresse) - 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.
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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