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.
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.
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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
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.
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.
Allulose Market by category
By Form
- Powder Allulose
- Liquid Allulose
- Crystals Allulose
By End Use
- Food
- Bakery Products
- Confectionery
- Dairy Products
- Sweet Spreads
- Ice Creams and Desserts
- Beverages
- Carbonated Beverages
- Fruit Drinks & Juice
- Powdered Drinks and Mixes
- Pharmaceuticals
- Food Service Providers
- Retail/ Households
- Store-based Retailing
- Hypermarkets/ Supermarkets
- Convenience Stores
- Specialty Stores
- Independent Small Groceries
- Online Retailing
By Region
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)
- Oceania
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Key Questions Answered in the Report
- Which is the most lucrative market for allulose market?
North America currently leads the global market for allulose. Sales in North America is expected to account for over 25% of total demand throughout the forecast period.
- Which is the top-selling product form of allulose?
Powder allulose is expected to be the preferred form, exhibiting higher sales than allulose available in liquid and crystal form.
- Who is the leading end user of allulose?
The food and beverages industry is currently exhibiting high demand for allulose in response to the expansion of the market for healthier sugar alternative.
- Which are some of the leading companies offering allulose?
Some of the leading companies offering allulose are 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.
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About FMI:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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