Global Allulose Market to Reach USD 306.4 Million by 2028 with a CAGR of 10.6%

 Posted on: Nov-2022 | Food & Beverage

The global Allulose Market was valued at USD XX million in 2021 and is expected to reach USD 306.4 million by the end of 2028, growing at a CAGR of 10.6% between 2022 and 2028.

The Allulose Industry is predicted to grow in the next few years as consumers become more conscious of the importance of having better products for their health, government limitations are eased, and other factors come into play. The expansion of low-calorie and low-sugar-related food and beverage items is likely to be aided by the large increase in the number of health-conscious customers around the world. The demand for allulose has been projected to grow at an exponential rate in recent years. It has a similar sweetness to fructose and contains 70% of sucrose's overall sweetness. In the next years, an increase in favorable government policies is also predicted to boost industry growth. For example, the US Food and Drug Administration enabled the low-calorie sweetener allulose to be omitted from added and total sugar counts on supplement and nutrition labels in 2020.

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Market Dynamics

Increasing demand for processed frozen food, bakery, and confectionery product coupled with the rising diabetic patient population in emerging economies and growing healthcare awareness are fueling the growth of low-fat food products like allulose in the global market. Moreover, the increasing working population in urban areas and growing demand for ready-to-eat food in countries like India and China is expected to drive the allulose market in Asia Pacific region.

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Storage and transport facilities may hamper this industry’s growth

Inappropriate storage and transport facilities in small retail stores are a major challenge for the industry in developing economies. Allulose products require proper deep freezing and storage facilities. Rural areas of huge developing markets including India and China have storage, refrigeration, and electricity problems, which is a challenge for big allulose players. The lack of transport facilities makes the distribution of frozen products including ice creams difficult.

The surge in demand for functional table sauces is an opportunity for this market

In today’s complex and competitive food industry, growth comes through innovation. The use of exotic fruits, vegetables, spices, and other ingredients is enabling to offer a unique taste. These are regarded as versatile products and are adaptable to market trends. The demand for functional products such as low-sugar, low-fat, and low cholesterol has primarily been attributed to the growth of food products such as allulose.
Allulose Market Scope and segmentation

Attribute

Details

Market Size in 2021

XX USD Million

Estimated Market Size in 2028

306.4 USD Million

CAGR Growth Rate

10.6% CAGR

Historical Year

2016 to 2021

Forecast Years

2022-2028

Segmentation

Type, Nature Type, Application, and Region

By Type

  • Powder
  • Liquid
  • Crystal

Nature Type

  • Organic
  • Conventional

By Application

  • Food
  • Bakery & Confectionery
  • Dairy & Frozen Desserts
  • Sauces & Dressings
  • Beverages
  • Others

Major Regions Covered

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • UK
    • Germany
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • The Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

Free customization scope (equivalent to 5 analysts working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of the customization

 

Allulose Market Segmentation

On the basis of type, the global Allulose market is segmented into powder, liquid, and crystal. Among these types, the powder segment dominated the global industry in 2021 and accounted for the highest revenue share of more than 78% of the overall revenue. The market for crystal allulose products is predicted to skyrocket in the next years. The powdered form is a dried version, which finds its major application in the food industry with respect to its better handling properties in food application. Allulose Liquid Sweetener is a low-carb, keto-certified, calorie-free sweetener that tastes like sugar. Liquid Allulose is perfect for hot and cold beverages, smoothies, cocktails, or drizzling.

On The Basis of Nature Type, the organic segment dominated the Allulose Market in 2021, which accounted for over 82.7% share of the global market due to increase in awareness regarding various benefits of organic products as compared to their conventional counterparts resulting in an upsurge in its demand across the globe.  

On The Basis of Application, the market is segmented into food, bakery & confectionery, dairy & frozen desserts, sauces & dressings, beverages, and others. bakery & confectionery segment dominated the Allulose market in 2021, which accounted for XX% share of the global market. food was another significant segment accounting for over XX% market share in the market in 2028. The food sector accounted for the greatest commercial share of the total market, owing to growing allulose sales and rising demand for low-calorie sweeteners in ready-to-eat snacks, confectionery, dairy goods, bread products, ice creams, and desserts.

Regional Insights

North America is predicted to continue holding the largest share of the market, which is followed by Asia Pacific and Europe. North America held the largest share of about 41.92% of the Allulose market in 2021, owing to the busy lifestyle of consumers and a greater number of working women are escalating the healthy growth of the Allulose market in this region.

After North America, the demand for Allulose is the highest in the Asia Pacific. It is expected to experience double-digit growth in the frozen meat and ready-to-eat food business segment in upcoming years. Japan is one of the major importers of processed meat that includes pork, seafood, and beef. China, Japan, and Thailand are popular markets for such products. The overall increase in market size on account of growing purchasing power, changing lifestyles, and eating habits have been major factors contributing to the fast-growing frozen food market in the Asia Pacific region.

Europe is expected significant growth in the Allulose market. Products like cakes, pastries, and muffins are highly popular in European markets and are expected to continue their growth. High-end frozen bakery products and frozen meat occupy a major part of the market. Over the forecast period, the allulose market in South Africa is expected to rise at a rapid pace. The demand for organic ingredients is expected to rise in the country. The allulose market in South Africa will continue to be driven by rising health and wellness consciousness.

The global Allulose market Key players are as follows:

  • Apura Ingredients
  • Bonumose LLC
  • Blue California
  • Cargill Inc
  • CJ CheilJedang
  • Ingredion Incorporated
  • Matsutani Chemical Industry Co. Ltd.
  • Quest Labs
  • Samyang Corporation
  •  Tate & Lyle

Recent Developments:

  • September 2020: Blue California launched Next Generation Allulose at Large-Scale Commercialization
  • In January 2021, Tate & Lyle received non-GMO project verification for crystalline DOLCIA PRIMA® Allulose

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