As per Inkwood Research, the Global Allulose Market is set to project a CAGR of 6.70% in terms of revenue during the forecasted years 2023-2032.
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Allulose is a natural sweetener found in raisins, jackfruit, figs, and wheat. It is similar to sugar in appearance, texture, and taste but with fewer calories and carbs, making it a healthier alternative to sugar. It is used in pharmaceutical, food & beverage, dairy, and bakery products. The growing prevalence of cardiovascular problems, high blood pressure, obesity, cholesterol, etc., is among the major growth drivers of the global allulose market.
Growing Health-Conscious Population offers Growth Opportunities
Consumers worldwide are becoming increasingly conscious about health and wellness. The significantly growing number of health-conscious consumers has played a central role in raising the demand for low-sugar and low-calorie food ingredients and products. Accordingly, the demand for allulose is on the rise since it has emerged as a promising alternative to natural sugar. Additionally, several studies have found that the increasing inclination toward allulose is also accredited to its attribute of not causing dental decay.
Furthermore, consumer trends are indicating a rising interest in science-backed data and transparency from food & beverage manufacturers. Besides, the green signal from the US Food and Drug Administration (FDA) for the use of allulose as a substitute for specific sugars is projected to propel the global allulose market demands.
Powder and Crystals are the Dominating Types
Powdered allulose is gaining popularity in the global market. Consumers prefer the powdered form over other forms since it is convenient to mix with different foods and beverages. For instance, carbonated & non-carbonated beverages, yogurt, biscuits & frostings, cake, pastries, pies, and rolls contain powdered allulose. Besides, it is also used in desserts, jellies, and candies. As a result, it is gaining traction, given its widespread use.
Asia-Pacific to dominate the Global Market by 2032
The Asia-Pacific allulose market growth is attributed to large production capacities and a wide consumer base. For instance, the regional prospects benefit from countries like India, the largest producer of wheat globally. It is also one of the important users and producers of allulose in South Asia since allulose is produced from wheat. Moreover, shifting dietary patterns, nutritional transition, and growing healthcare awareness contribute to market growth.
The key players operating in the global allulose market are prioritizing joint ventures, mergers, and acquisitions to increase business footprints globally. Some of the prominent firms in the market include Samyang Corporation, Ingredion Incorporated, Tate & Lyle PLC, Anderson Global Group LLC, etc.