Allulose Market to Grow at 8.2% CAGR from 2021 to 2031
The demand for allulose is rising at a high pace, especially as consumers show increasing inclination for healthier sugar alternatives. As per a study by Future Market Insights (FMI), the increasing demand for healthier sweeteners will enable the allulose market to reach a valuation of US$ 206.5 Mn by 2021.
This has been encouraging key market players to focus on the launch of new products, offer greater sustainability, and aim for certifications from international organizations. Allulose is plant derived ingredient and is therefore considered helpful for people who suffer from digestion issues, gut issues, bloating, and obesity.
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Allulose is gaining traction globally as it is also considered a rich source of anti-oxidants and vitamins. Allulose also is believed to speed up fat loss, preventing the formation of free radicals in the body which eventually generates stress. Governments in developed and developing nations advocate reduction of sugar intake, especially in the food and beverages sector, which is a key factor driving demand for allulose.
According to FMI, the food and beverages sectors will account for leading share of allulose sold globally. Of these, over 55% of allulose sales will concentrate in the food sector. The rising demand for sugar free confectionery and bakery products will fuel sales in the segment.
Key Takeaways from the Allulose Market Study
- Allulose market will register 8.2% CAGR between 2021 and 2031 driven by increasing application in the food sector.
- Demand for sweetener will rise in the U.S. due to rising prevalence of diabetes and obesity. The U.S. is expected to account for nearly 90% of allulose sold in North America
- Increasing focus on health and wellness will fuel demand in China.
- Favorable government initiatives aimed at promoting health among citizens will drive sales in South Africa
- Expansion of the food sector, will catapult India as a key market within South Asia
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Marketers Reach Out to Millennial
Millennials often purchase goods in-store but there has been a change in their purchasing behaviour as they have begun exhibiting a fondness towards placing purchase order from the comfort of their homes. Manufacturers are aiming at capitalizing on this by expanding their online presence. Also increasing focus on health and wellness among millennial has led to increasing demand for supplements, which also will continue pushing sales in the market.
How Is Focus on Detoxification Affecting Allulose Sales?
Detoxification trend that is gaining traction and it is a key factor driving sales. Consuming allulose in some form every day in morning can help a person to get rid of toxins and improve liver function. As a result of the increasingly unhealthy diet, consumers are looking for drinks that will detoxify the body from the effects of junk food and medicines. Another factor driving the growth of allulose is that it is derived from plant-based source. A rising number of consumers are showing inclination for plant-based diet, which will bode well for the market.
Driven by changing behavior of consumers, market players are focusing on product launches. For instance, in 2020, a leading manufacturer Tate & Lyle launched two new products called as Tasteva M Stevia Sweetener and Dolcia Prima allulose, supporting the purpose of improving lives for generations by offering healthier food and drink choices to their consumers.
How is Rising Prevalence of Diabetes Related to Increasing Allulose Sales?
According to the recent findings of the Diabetes Research Institute Foundation, in 2018, 1.5 million new cases of diabetes were diagnosed among people aged 18 years or older in the United States. Increasing consumption of food and beverages containing excessive sugar is often singled out as a key factor attributing to the rising prevalence of diabetes.
Cold drinks which youngsters really enjoy contain high amount of refined sugar and frequent high calorie sugar intake can adversely affects health or lead to diabetes. Food intake with these ingested food also increases the risk of heart diseases, high blood pressure, stroke, non-alcoholic fatty liver disease, and other health conditions.
Who is winning?
A few of the leading players operating in the allulose market Tate & Lyle PLC, , Bonumose LLC, Matsutani Chemical Industry Co. Ltd, Cargill Inc, Ingredion Incorporated, Samyang Corporation, CJ Cheil Jedang, Anderson Global Group, Eat Just Inc., Wellversed and Others.
Prominent manufacturers of allulose market are focusing on M&A, collaborations, alliances with peers to increase its market penetration and to increase their production capacity. Research and development activities for optimizing taste and texture of plant based products also are undertaken to attract the keto, vegan population at large.
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Key Questions Answered in the Report
- Which is the most lucrative market for allulose market?
- Which is the top-selling product form of allulose?
- Who is the leading end user of allulose?
- Which are some of the leading companies offering allulose?
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