New York, USA, April 26, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global allulose market is anticipated to garner a revenue of $387.8 million and rise at a CAGR of 10.1% over the estimated timeframe from 2022 to 2030.
As per our analysts, with the rising incidences of diabetes, obesity, and heart diseases among individuals which make them opt for healthier food choices, the allulose market is predicted to witness remarkable growth during the forecast timeframe. Besides, the increasing preferences for plant-based products among health-conscious consumers over synthetic items to get additional health benefits are further expected to fortify the growth of the market over the estimated period. Furthermore, the investments made by small and mid-sized food product manufacturing companies are expected to create huge growth opportunities for the market. However, the strict government regulations on storage and atmospheric conditions of nations may impede the growth of the market throughout the estimated period.
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Segments of the Allulose Market
The report has divided the allulose market into segments based on type, nature, application, and region.
Type: Powdered Allulose Sub-segment to be Most Productive
The powdered allulose sub-segment accounted for $74.7 million in 2021 and is expected to dominate the market over the estimated timeframe. This is mainly because powdered allulose products are easy to go with smoothies, yogurts, and beverages. Moreover, increasing demand for powdered allulose in various food applications due to its better handling properties is expected to bolster the growth of the market sub-segment during the forecast period.
Nature: Organic Sub-segment to be Most Lucrative
The organic allulose sub-segment is expected to generate a revenue of $323.1 Million and rise at a healthy CAGR of 9.4%. over the analysis period. This is mainly because organic allulose is free from colors, preservatives, and synthetic pesticides. In addition, the increasing demand for organic food products among health-conscious individuals is predicted to fuel the growth of the market sub-segment during the estimated period.
Application: Bakery & Confectionery Sub-Segment to be Most Profitable
The bakery & confectionery sub-segment generated $48.9 million in 2021 and is expected to have high growth potential during the forecast period. This is majorly due to the increasing awareness among people of using healthy organic products. Furthermore, the growing baking industry is expected to propel the growth of the market sub-segment over the analysis period.
Region: North America Region to Have Huge Growth Opportunities
The North America region of the allulose market is expected to generate a revenue of $164.5 million and grow at a healthy CAGR of 9.3% over the forecast timeframe. This is mainly because of the huge number of working women and the hectic lifestyles of consumers in this region. Moreover, the high disposable income among individuals and strong presence of restaurants and hotel outlets in this region with innovative high-end health and fitness frozen food are expected to drive the regional growth of the market over the analysis timeframe.
Covid-19 Impact on the Allulose Market
Though the rise of the novel coronavirus has devastated various industries, it has had a positive impact on the allulose market. The rapid spread of the deadly virus and its severe symptoms have made people more health-conscious. This has lifted the demand for allulose across food industries to provide a healthier alternative to individuals across the globe. All these factors have boosted the growth of the market during the pandemic period.
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Key Players of the Allulose Market
The major players in the allulose market include
- McNeil Nutritionals
- Ingredion Incorporated
- Tate & Lyle
- Matsutani Chemical Industry Co. Ltd.
- Quest Nutrition, and many more.
These players are working on the development of new business tactics such as product development, mergers, and acquisitions, partnerships, and collaborations, to procure leading positions in the global industry. – Inquire Here! And get an Access to the key Development Strategy Report@ https://www.researchdive.com/purchase-enquiry/257
For instance, in February 2021, Tate & Lyle, a leading provider of food and beverage ingredients and solutions, launched its new project named Non-GMO Project Verified Dolcia Prima allulose syrup. The company has expanded its Dolcia Prima allulose portfolio by increasing the number of retail products having Non-GMO Project verified labels and certification. The aim behind launching this product is to use allulose in a wide range of food and beverages applications.
Further, the report also summarizes other crucial aspects including product portfolio, the financial performance of the key players, SWOT analysis, and the latest strategic development.
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