North America Allulose Market by Form (Powder, Liquid), Application (Bakery & Confectionery, Beverages, Cereals, Dairy, Sugar & Sugar Substitutes) - North America Analysis & Forecast, 2019-2030
Report ID : 104 | Published Date : May 2020 | Pages : 150 | Region : Global | Report Code : FB-1
North America Allulose Market Overview and Introduction
Global North America Allulose Market is estimated to be over US$ 90.70 Million in 2018. It is anticipated to grow at a 15.3% CAGR from 2019 to 2030.
Allulose is a bulk sweetening ingredient that provides the functional benefits and experience of sugar (e.g. taste and texture) but it contains only about ten percent of the calories. The low-calorie feature of this sweetener is one of the reasons why it is increasingly popular as a sugar replacement and an alternative to traditional sweeteners.
Growing prevalence of obesity and diabetes, growing demand for sugar substitutes, and growing application horizon of allulose are the major driving factors behind the growth of the allulose market in the North America region. However, the production of allulose is quite expensive and it typically starts with fructose, and involves expensive processing steps and yields relatively low output is the major barrier toward the market growth. Some of the keys players have had utilized an enzymatic process which as considerably increased efficiency and have resulted in reduced the cost of deriving allulose. Allulose also offers tremendous opportunities to sugar companies to discover ways of at least compensating the potential impact on their business, of the trend towards sugar reduction.
North America Allulose Market by Form
On the basis of the form, the market is segmented into powder, and liquid. The liquid segment accounted for the largest share of the allulose market in 2016. However, powder form is anticipated to outpace the liquid segment in terms of market share and growth rate by 2019. Liquid form offers almost all the same benefits when compared to its solid counterpart. However, solid form can be used in various new applications such as tabletop sweeteners, chocolate confectionery, fat –based cream, dry beverages and meal replacement mixes. Moreover, the level of purity of crystalline allulose is more when compared to liquid allulose.
North America Allulose Market by Application
Based on the application, the market is segment into bakery & confectionery, beverages, cereals, dairy, sugar & sugar substitutes, and others. The bakery & confectionery segment estimated to account for the largest share in the North America allulose market, owing to factors such as similar flavor and texture as that of sucrose and high browning point for preparation of bakery and confectionary products such as namely cookies, cakes, pies, pastries & frostings, chewing gum, jam, jellies and candies.
North America Allulose Market by Region
In the North American region, allulose has regulatory approval for use in U.S. and Mexico. It is still pending approval in Canada. U.S. dominated the market of allulose, followed by Mexico. This market growth is attributed to the increasing adoption rate of allulose by food & beverages industry and increasing preference of population towards low calorie sugar. Further, U.S is expected to retain its major share of the North America region owing to factors such as, increasing prevalence of diabetes.
Rising number of diabetic patients in Mexico country is likely to boost the market during forecast period as allulose is a substitute for sugar. According to International Diabetes Federation, the prevalence of diabetes in adults in Mexico is 14.8%.
North America Allulose Market by Prominent Players
The prominent players in the North America allulose market are Tate & Lyle, INGREDION, Matsutani Chemical Industry Co., Ltd., Icon Foods, Anderson Advanced Ingredients, LLC, Apura Ingredients, Bonumose LLC, CJ CHEILJEDANG CORP.