Redding, California, March 30, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled, “D-Psicose Market by Type/Form (Powder, Syrup, Crystal), Application (Food [Bakery Products, Dairy Products, Other Food Products], Beverages, Other Applications)—Global Forecast to 2029,” published by Meticulous Research®, the D-psicose market is expected to reach $438.1 million by 2029, at a CAGR of 28.6% during the forecast period of 2022–2029.
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People across the globe have become more health-conscious and are looking for better alternatives to sugar. Regular consumption of high-calorie sugar negatively impacts health and leads to health issues, such as diabetes, obesity, high blood pressure, and cardiovascular and liver diseases. Therefore, people have become highly conscious about their daily sugar intake and are opting for low-calorie substitutes such as allulose, which have the same taste and texture but are less harmful.
Impact of COVID-19 on the D-psicose Market
The outbreak of the COVID-19 pandemic caused a severe public health emergency globally. Numerous countries declared emergencies and announced complete nationwide, statewide, or citywide lockdowns, halting all travel, transport, manufacturing, educational institutions, and non-essential trade to combat and control the spread of this disease. These restrictions significantly impacted many industries, reducing manufacturing and distribution globally.
The COVID-19 pandemic disrupted supply chains, significantly impacting the D-psicose market. North America and Asia-Pacific play a vital role in the market due to the concentration of several key players in these regions, and the D-psicose produced by these players cater to end users worldwide. Also, imports and exports in many countries have either been restricted or delayed since the outbreak, creating numerous challenges for D-psicose suppliers.
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However, the COVID-19 pandemic has led to the adoption of some best-practice models for the food industry as the pandemic has highlighted the importance of hygienic and nutritious foods comprising reduced sugar, calories, and fats in the prevention of diseases. This industry has faced unprecedented demand from the consumer, particularly for low-calorie food products. Thus, companies in the food industry have started changing their strategies by replacing sugar with sugar substitutes or low-calorie sweeteners to meet the increasing demand.
Moreover, there is a rapid surge in demand for products containing less sugar and have immunity-boosting properties as people seek solutions to boost overall health and well-being. The COVID-19 pandemic has also prompted most health-conscious customers to turn to low-calorie and sugar-free food. Hence, the increasing health consciousness and the high demand for products with lower sugar content amongst consumers have forced manufacturers and product formulators to opt for sugar substitutes such as D-psicose.
Furthermore, according to an article published by Nutrition Outlook, the sales of dietary supplements increased significantly during the pandemic due to their immune-boosting benefits. During the last week of March 2020, the sales growth for overall dietary supplements skyrocketed to more than 35% in the U.S. Also, according to Glanbia Plc., in April 2020, the purchase of dietary supplements in retail outlets witnessed a significant increase.
D-psicose Market Overview
The overall D-psicose market is segmented based on type/form (powder, syrup, and crystal), application (food [bakery products, dairy products, and other food products], beverages, and other applications), and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
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In 2022, the powder segment is expected to account for the largest share of the overall D-psicose market. The large share of this segment is mainly attributed to the benefits of powered D-psicose, such as ease of handling, transportation, storage, and better shelf-life.
In 2022, the food segment is estimated to account for the largest share of the overall D-psicose market due to factors such as consumers’ increasing preferences for healthy food, changing food consumption patterns, and extensive use of sugar substitutes in various food products, including baked goods, confectionery, and savory snacks. However, the beverages segment is estimated to witness rapid growth during the forecast period of 2022–2029. The high growth rate of this segment is driven by factors such as the growing awareness of health benefits offered by D-psicose in beverages, the increasing launches of D-psicose-based beverages, and the rising demand for low-calorie beverages.
Based on geography, the global D-psicose market is segmented into five major geographies: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, North America is expected to account for the largest share of the global D-psicose market. The large share of this region is mainly attributed to the increasing number of obese and diabetic population, growing health and wellness concerns, a well-established food and beverage industry, and strong demand for sugar-free products. However, Asia-Pacific region is estimated to witness rapid growth in the D-psicose market during the forecast period of 2022–2029. The high market growth in Asia-Pacific region is primarily driven by factors including the rising number of people with obesity and diabetes, growing awareness about the health benefits of sugar-free products, and the emerging trend of healthy food and ingredients.
Key Players
The key players operating in the global D-psicose market are Tate & Lyle PLC (U.K.) Matsutani Chemical Industry Co., Ltd. (Japan), Samyang Corporation (South Korea), Baolingbao Biology Co., Ltd. (China), CJ CheilJedang Corp. (South Korea), Shandong Saigao Group Corporation (China), Anderson Global Group, LLC (U.S.), Shandong Bailong Chuangyuan Bio-tech Co., Ltd. (China), Archer-Daniels-Midland Company (U.S.), Zhucheng Haotian Pharm Co., Ltd (China), Merck KGaA (Germany), Dezhou Huiyang Biotechnology Co., Ltd. (China), and SAVANNA Ingredients GmbH (Germany) among others.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/d-psicose-market-5259
Scope of the Report:
D-psicose Market, by Type/Form
- Powder
- Syrup
- Crystal
D-psicose Market, by Application
- Food
- Bakery Products
- Dairy Products
- Other Food Products
- Beverages
- Other Applications
D-psicose Market, by Geography
- North America
- Asia-Pacific (APAC)
- Japan
- South Korea
- Singapore
- India
- China
- Australia
- Rest of APAC (RoAPAC)
- Latin America
- Europe
- Middle East & Africa
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