The scope of our recent study on the "Allulose Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Form (Liquid and Powder & Crystals) and Application [Food & Beverages (Bakery & Confectionery, Dairy & Frozen Desserts, Beverages, and Others) and Others]" includes the description of factors fueling the market growth, estimation and forecast of revenue, and identification of significant market players and their key developments. The report also provides a market share analysis.

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-intensity sweetener that is present in trace amounts in figs and raisins. However, it is commercially extracted from corn and sugar beets. The fructose from corn syrup is converted into allulose using an enzymatic conversion process. The enzyme from the DTEase family is used for converting fructose into D-allulose. Allulose is generally recognized as safe (GRAS) by the US Food and Drug Administration (FDA). Moreover, the governments of countries such as China, Japan, India, and South Africa have approved the use of allulose as a food ingredient in various food and beverages. This factor is significantly supporting the growth of the allulose market across the globe.

Based on form, the allulose market is segmented into liquid and powder & crystal. The powder & crustal segment held a larger market share in the allulose market in 2020 and is projected to register a faster CAGR during the forecast period. Powdered allulose, as the name suggests, resembles powdered sugar. It is widely used as a thickening and stabilizing component in baked products such as cakes, biscuits, meat dishes, and rye bread. Since it dissolves more quickly, it offers icing, glazes, frosting, fillings, and sauces a smooth texture. Allulose is also available in crystalline form. Crystallized allulose is used as a natural sugar-free sweetener in place of sugar for cooking, baking, and topping. Powdered and crystallized allulose is easily available and requires a relatively low cost of transportation than liquid allulose. This factor is driving the segment.

The allulose market is segmented into four main regions-North America, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America (SAM). Asia Pacific held the largest share in the allulose market in 2020, and South & Central America is expected to register the fastest CAGR during the forecast period. The rising demand for allulose as a natural, low-sugar, and low-calorie sweetener across the food & beverages industry is one of the key factors favoring the market growth in Asia Pacific. The rising demand for convenience foodstuffs and ready-to-eat snacks, coupled with the growing need for sugar substitutes, fuels allulose consumption in the region. Moreover, companies in the region are continuously focusing on obtaining global certifications to expand their customer size and cater to emerging consumer trends. For instance, in July 2020, Samyang Corporation obtained Kosher and Halal Certification for its allulose offerings. Such strategies are further expected to contribute to the growth of the allulose market across Asia Pacific.

Impact of COVID-19 Pandemic on Allulose Market

The food & beverages industry is one of the key industries that faced unprecedented challenges due to the COVID-19 pandemic. Lockdown and border restrictions enacted by various countries disrupted supply chains, which affected the production and distribution of various products. In the pre-pandemic period, the allulose market was mainly driven by the high demand for healthier alternatives to table sugar due to the growing prevalence of diabetes, obesity, and heart diseases. However, after the outbreak, people became more conscious of their health. They started consuming more healthy food and beverages with comparatively less calories. Many people started following a healthy diet regime to prevent themselves from diseases. Thus, with the rise in consumer interest in health and well-being due to the COVID-19 pandemic, the allulose market is projected to witness strong growth in the coming years. Further, the allulose market is expected to grow as the manufacturers are permitted to operate at full capacity, and many countries are vaccinated.

The report segments the allulose market as follows:

Based on form, the allulose market is segmented into liquid and powder & crystals. Based on application, the allulose market is segmented into food & beverages and others. The food & beverages segment is further segmented into bakery & confectionery, dairy & frozen desserts, beverages, and others. Based on geography, the allulose market is segmented into North America, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM).

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