According to a new report published by Allied Market Research, titled, “Allulose Market,” The allulose market was valued at $162.40 million in 2021, and is estimated to reach $387.40 million by 2030, growing at a CAGR of 10.1% from 2022 to 2030.
Allulose is a sugar substitute that has the same taste and feel as sugar but contains 90% fewer calories than other sweeteners. Allulose’s composition is quite like fructose and glucose due to its unique oxygen and hydrogen structures. Because of the modest contrast, the sugar substitute can replace a reasonable amount of table sugar while retaining a sweetness level of up to 70%.
The global allulose market is segmented based on type as powder, liquid, and crystal. On the basis of nature, the market is segmented as organic and conventional. Based on application the market is divided into food, bakery & confectionery, dairy & frozen desserts, sauces & dressings, beverages, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Some of the leading allulose market players are Anderson Global Group, Apura Ingredients, Bonumose LLC, Cargill, Incorporated, CJ CheilJedang, Ingredion Incorporated, Matsutani Chemical Industry Co. Ltd., McNeil Nutritionals, Quest Nutrition, and Tate & Lyle
The report focuses on the global allulose industry share growth and the major products & applications where allulose is used. It further highlights numerous factors that influence the market growth, such as forecast, trends, drivers, restraints, opportunities, and roles of different key players that shape the market. The report focuses on the overall demand for Allulose in various countries, presenting data in terms of both value and volume. The revenue is calculated by proliferating the volume by region-specific prices, considering the region-wise differentiated prices.
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IMPACT OF COVID-19 ON THE GLOBAL ALLULOSE MARKET
- COVID-19’s pandemic has posed major medical, social, and economic concerns. However, the medical community is focused on developing effective diagnostic and treatment methods. Furtehrmore, the food and beverage business is focused on generating nutritious items that help the body fight disease by boosting immunity.
- Due to the increasing spread of the COVID-19 infection in various regions/countries, the market observed a positive growth in 2020 owing to rise in health consciousness among people, the market is anticipated to observe further growth in post pandemic phase 2021
- COVID-19 impacted almost all industries by hindering various industrial operations and disrupting the supply chain. Maximum companies halted their operation due to fewer workforces. However, there is a sluggish decline in the global allulose market due to impact of COVID-19.
- Furthermore, import and export activities were significantly impacted, which, in turn, adversely affected the industries using allulose, thereby affecting the global Allulose market growth.
Key findings of the study
- The report provides in depth analysis regarding the allulose market size and allulsoe market share along with the future trends of the market.
- Based on application, the bakery & confectionary segment emerged as the global leader in 2021 and is anticipated to hold a considerable market share during the forecast period.
- Based on region, North America, headed by the United States and Canada, is predicted to grow significantly over the forecast period, owing to rising demand from the food and beverage industry in the region.
- Based on nature, consumers are altering their dietary preferences from conventional to organic as the number of cases of sugar and cholesterol-related ailments are rising.
- Based on type, powdered segment dominates the global allulose market in 2021. Due to its good compatibility with other raw materials, powder form is frequently chosen in the production process, fueling sector expansion.
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