Global North America Allulose Market is anticipated to grow at a 15.30% CAGR from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Allulose Market – North America, Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the North America Allulose Market was estimated to be over US$ 90.70 Mn in 2018. It is anticipated to grow at a CAGR of 15.30% from 2019 to 2030.
Allulose is a low-calorie sugar with the same clean, sweet taste like sugar. Thereby, allulose finds a wide range of applications in bakery products and confectionaries, namely cookies, cakes, pies, pastries & frostings, chewing gum, jam, jellies, and candies.
The growth of the allulose market can be attributed to the growing prevalence of obesity and diabetes, and the growing demand for sugar substitutes. Obesity as a risk aspect is by far the greatest contributor to the burden of chronic diseases in the U.S., accounting for 47.1 percent of the total cost of chronic diseases nationwide. Obesity can also lead to early mortality and increased vulnerability to other diseases and can have an incalculable impact on the quality of life. According to the American Diabetes Association, 1.5 million Americans are diagnosed with diabetes every year. There is an increasing awareness amongst the population regarding health, fitness, overall appearance and managing diabetes. People with diabetes are at amplified peril of serious health complications including but not limited to, vision loss, premature death, stroke, heart disease, kidney failure, and amputation of toes, feet, or legs. With the persistent rise in the prevalence and incidence rates of obesity and diabetes in the North American region, there is a pressing need by manufacturers and patients alike, to find sugar substitutes and reduce calories.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, North America Allulose Market by Form (Powder, Liquid), Application (Bakery & Confectionery, Beverages, Cereals, Dairy, Sugar & Sugar Substitutes) – North America Analysis & Forecast, 2019-2030. in detail along with the table of contents:https://www.marketindustryreports.com/north-america-allulose-market/104
A major concern related to the allulose market is the high manufacturing cost. Allulose is manufactured from fructose in aqueous solution by enzymatic epimerization in the presence of magnesium chloride. It involves expensive processing steps and yields relatively low output. However, some of the keys players have utilized an enzymatic process which has considerably increased efficiency and has resulted in reducing the cost of deriving allulose. Furthermore, allulose is a very low energy sugar that naturally exists (in small amounts) in various plant foods, most notably corn.
Allulose has regulatory approval for use in the U.S. and Mexico. It is still pending approval in Canada. The U.S. dominated the allulose market, owing to increasing adoption rate of allulose by the food & beverage industry and increasing preference of population towards low-calorie sugar. Mexico is expected to hold a prominent share and grow at a sustainable growth rate owing to the rising adoption of allulose in the Mexico market and spreading awareness about allulose. The rising number of diabetic patients in Mexico country is likely to boost the market during the forecast period.
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 among others.
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