Market overview:
Allulose is named "uncommon sugars" since it is normally present in certain food varieties, including figs, raisins, molasses, and maple syrup in restricted sums. Because of the expanding medical issues looked by shoppers, the interest for normal ingredients is expanding. Also, the unsafe health impacts of burning-through items containing counterfeit ingredients will support an inclination for allulose.
Recent developments:
Anderson Global Group today declared its aim to dispatch its low calorie AllSweet ™ sugar at the impending IFT show in Chicago. Anderson Global has joined forces with South Korean maker CJ CheilJedang to bring allulose under the AllSweet ™ brand to food and refreshment formulators hoping to decrease all out calories, particularly unhealthy, fructose corn syrup.
Market Drivers and Restrains:
The market for allulose has seen significant growth due to factors such as the growing preference of consumers for natural and low calorie food products. In addition, allulose finds its applications in various food products such as bakery, confectionery, dairy and therapeutic foods such as diabetic foods or for weight control, further driving market demand. Additionally, various health problems associated with consuming high-calorie sugar, as well as uncertainty about the safety of commercially available synthetic sweeteners, are the main factors that attract consumers to allulose, which in turn fuels market demand around the world. However, the availability of substitutes such as synthetic sugar, which is available at low prices, can hamper the growth of the allulose market. The significant growth of food processing industries in emerging countries is adding inputs to the growth of the allulose market.
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Report is segmented as:
By Type:
• Liquid form allulose
• Powder form allulose
By Application:
• Beverages
• Confectionary
• Dairy
Geographical Segmentation:
In terms of value, North American countries are likely to account for the majority of the market and are expected to remain strong throughout the forecast period. The number of health-conscious consumers is growing rapidly in North America, as a result of which major North American players are investing in research and development to manufacture innovative allulose products. North America is expected to grow at a CAGR of 9.1% during the forecast period.
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Impact of COVID-19 on Allulose Market:
The onset of the new COVID-19 pandemic is expected to affect the growth of the global allulose market, particularly in 2020 and the first half of 2021. As governments around the world continue to confront the pandemic by imposing lockdowns, trade restrictions and the disruption in the supply chain in the allulose market is expected to affect market expansion in the coming months. Market players are expected to adopt emergency strategies in the first half of 2020 to mitigate the impact of the COVID-19 pandemic. Furthermore, in the current scenario, given that consumers are very favorable to buying only “essential goods and services”, the demand for allulose is expected to decrease.
Key market players:
• Anderson Global Group
• Apura Ingredients
• Bonumose LLC
• Cargill, Incorporated
• CJ CheilJedang
• Ingredion Incorporated
• Matsutani Chemical Industry Co. Ltd.,
• McNeil Nutritionals
• Quest Nutrition
• Tate & Lyle