The allulose market is projected to reach US$ 362.24 million by 2028 from US$ 232.91 million in 2021; it is expected to grow at a CAGR of 6.5% from 2021 to 2028.
Allulose is a low-calorie sweetener with a taste and flavor similar to table sugar but 10% fewer calories. Moreover, allulose has only 70% sweetness of sucrose, making it an ideal sugar replacement ingredient. High-intensity sweeteners, including stevia, are 100 times sweeter than sugar. As a result, they must be used in much smaller amounts, requiring food and beverage manufacturers to add other ingredients, such as other sweeteners, fiber, or texturizers, to restore the weight and offer the desired color and texture. Allulose, thus, is a preferred replacement for traditional sugar compared to other sweeteners. These properties of allulose are significantly driving its demand in the market.
Based on application, the allulose market is segmented into food & beverages and others. The food & beverages segment accounted for a larger share of the allulose market in 2020. The others segment is expected to register a higher CAGR during the forecast period. The others segment majorly comprises allulose applications in pharmaceutical and nutraceutical products. According to research, allulose does not affect blood sugar levels as it has a low glycemic index (GI). Since the body does not metabolize allulose, it is appropriate for diabetic and ketogenic diets. It promotes a healthy lifestyle and does not cause tooth decay. These factors are driving the utilization of allulose in pharmaceutical and nutraceutical products.
Based on region, the allulose market is segmented into North America, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). In 2020, Asia Pacific held the largest share of the global allulose market, and South & Central America is estimated to register the fastest CAGR over the forecast period. The lifestyles of consumers in Asia Pacific have improved significantly. Due to the rise in urbanization and increased disposable incomes, consumers are choosing high-quality food and beverages with high perceived benefits. Moreover, the increasing prevalence of chronic and lifestyle diseases in the region has raised awareness related to health and fitness. All these factors are contributing to the growth of the allulose market across Asia Pacific. The food & beverages industry across Asia Pacific is well-established. Due to the presence of a potential customer base, affordable infrastructure facilities, cheap labor, and favorable government regulations, many food & beverage conglomerates are expanding their operations across Asia Pacific. This factor is expected to provide a strong potential to the allulose market in the coming years. Further, the presence of leading market players, such as Samyang Corporation, Matsutani Chemical Industry Co., Ltd.; and CJ CheilJedang, operating actively in the region, is also projected to drive the allulose market over the forecast period.
The key players operating in the allulose market include Tate & Lyle; Anderson Global Group, LLC; Ingredion; Samyang Corporation; Apura Ingredients, Inc.; Nutra Food Ingredients; Bonumose, Inc.; Matsutani Chemical Industry Co., Ltd.; CJ CheilJedang; and SAVANNA Ingredients GmbH. These players are engaged in developing affordable products to meet the rising customer demand and retain their market share. They are adopting strategies such as partnership, collaboration, and merger & acquisition to expand market size across different geographies.
The overall allulose market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers?along with external consultants such as valuation experts, research analysts, and key opinion leaders?specializing in the allulose market.