A recent study published by Transparency Market Research on the allulose market includes global industry analysis and opportunity assessment for 2020-2030. The global allulose market was forecast to be valued at ~US$ 210 Mn in 2020. The allulose market is projected to rise at a CAGR of ~8% to reach ~US$ 450 Mn by 2030.
The COVID-19 outbreak will have significant impact on the global economy. The spread of COVID-19 has triggered concerns for global players and regional players. Experts fear that ongoing restrictions could result in economic slowdown for the next 3-4 years. Businesses are expected to witness impact of this ongoing scenario on their sales in the upcoming year. As allulose is a convenience product and not a necessity for a large share of the population, the demand is expected to decline for a year or two and reaching a stagnant phase for the next few years.
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Rising Demand for Food Products Aiding Weight Management to Boost Growth
Doctors believe sugar is a significant factor contributing to obesity. Obesity has effects such as elevated cholesterol and cardiovascular problems with metabolic disorders. Consumers have started following different weight loss and weight management diets, including better-for-you food and drinks, weight loss supplements, and others as a result of the rising incidence of health disorders related to being overweight and obesity. This increase in the number of health issues is associated with consumption of regular high-calorie sugar, and this factor is expected to fuel the global demand for allulose in the coming years.
Increasing Use of Sugar Substitutes in Beverages to Create Growth Opportunities
Allulose contains less calories than sugar, and does not appear to affect blood glucose levels, which means allulose may be a healthy substitute to sugar. Beverages is one of the leading categories exhibiting the demand for sugar substitute. Most drinks are now blended with the natural sweeteners. The health benefits and functionality associated with these sugar substitutes have led to their widespread adoption by beverage manufacturers. Consumers have also shown greater willingness to replace traditional sucrose in everyday consumables and goods with alternatives to sugar. These developments are expected to boost the penetration of allulose as a sugar substitute in beverages.
Increasing Applications of Allulose in Diverse Sectors to Aid Expansion
Allulose is used in a broad range of products such as bakery, beverages, confectionery, and dairy. Allulose depresses the freezing point of frozen products and is similar to sucrose, as it increases its solubility with temperature. Allulose also adds color, bulk, and browning to baked goods, and is more soluble in drinks as compared to sucrose. The properties of moisture preservation contribute to extended shelf life of baked goods. Such unique features enable broader formulation possibilities across a variety of applications, including drinks, baked goods, frozen dairy products, chewing gum, hard candies, snack foods, milk, gelatin, sauces, syrups, breakfast cereals, and condiments.
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