More than Half of Allulose Sales Concentrates in Food Sector, Expansion of Bakeries will Impel Growth: Study
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.
A recent market study published by Future Market Insights on the Allulose Market offers gl...
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.
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
“The demand for allulose powder is rising since consumers are looking for healthier alternatives for sugar. Emerging economies will prove exceptionally lucrative, encouraging market players to focus on capacity expansion to capitalize on untapped opportunities” said a lead analyst at FMI
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.
Get Valuable Insights into Allulose Market
Future Market Insights, in its new offering, provides an unbiased analysis of the allulose market, presenting historical demand data (2016-2020) and forecast statistics for the period from (2021-2031). The study divulges compelling insights on the allulose market based on By Form (Powder, Liquid and Crystals), By End Use (Food , Beverages, Pharmaceuticals, Food Service Providers and Retail/Households) across seven major regions (North America, Latin America, Europe, China, Asia Pacific, Oceania, and Middle East and Africa).
About Food Market Division at FMI
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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