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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
Report ID: MRFB - 104573 Pages: 107 Apr-2022 Formats*: PDF Category: Food and Beverages Delivery: 2 to 4 Hours Download Free Sample ReportThe D-psicose Market is expected to reach $438.1 million by 2029, at a CAGR of 28.6% during the forecast period 2022–2029. The growth of this market is driven by factors such as the rising demand for sugar substitutes, the increasing demand for functional food products, and the growing prevalence of diabetes and obesity.
Furthermore, stringent government regulations and the adverse health impacts associated with D-psicose are expected to restrain the growth of this market. However, the rising demand for low-calorie sweeteners among end-user industries, rising number of approvals in emerging economies, and increasing R&D activities to develop sugar-free products are expected to provide market players with significant growth opportunities. In addition, the rising demand for clean label products and the increasing adoption of healthy lifestyles are major trends influencing the growth of this market.
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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. In addition, imports and exports in many countries have been restricted or delayed since the outbreak, creating numerous challenges for D-psicose suppliers.
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.
Growing Demand for Sugar Substitutes Fuels the Growth of the D-psicose Market
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.
The D-psicose market is expected to grow in the coming years due to the rising demand for sugar alternatives. There has been an increase in health-conscious consumers globally, which has boosted the demand for natural and healthier sweeteners and sugar substitutes. In May 2021, Tate & Lyle, a liquid and crystalline allulose manufacturer, reported that the demand for allulose had exceeded the company’s supply capacity and announced its plans to increase production to meet the rising demand. The company also stated that there had been an increase in the demand for low-calorie sweeteners and sugar substitutes, which was expected to propel the growth of the D-psicose market. In addition, with the FDA’s decision to exclude allulose from the added and total sugar declarations on the nutrition facts panel, the demand is expected to rise exponentially.
Furthermore, the rising adoption of allulose by food manufacturers globally supports the demand for D-psicose. For instance, in June 2021, General Mills announced the launch of Good Measure, a novel brand of snacks with low-calorie ingredients. The company’s product line includes three types of bars: Almond & Dark Chocolate, Peanut & Dark Chocolate, and Blueberry and Almond. These bars claim to be low in calories, and most of the sweetness is derived from allulose. Therefore, the growing demand for sugar substitutes is anticipated to drive the growth of the D-psicose market.
Powder Segment to Dominate the D-psicose Market in 2022
Based on type/form, the D-psicose market is segmented into powder, syrup, and crystal. In 2022, the powder segment is expected to account for the largest share of the 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. However, the syrup segment is slated to register significant growth during the forecast period of 2022–2029.
Food Segment to Dominate the D-psicose Market in 2022
Based on application, the D-psicose market is segmented into food, beverages, and other applications. In 2022, the food segment is estimated to account for the largest share of the D-psicose market. The growth of this segment is mainly attributed 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.
North America to Account for the Largest Share of the D-psicose Market in 2022
Based on geography, the 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 D-psicose market. The large share of North America 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 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 is 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. Also, governments in the region have started imposing taxes on sugar-sweetened products, creating significant growth opportunities for the D-psicose market.
Key Players
The key players operating in the 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).
Scope of the Report:
D-psicose Market, by Type/Form
D-psicose Market, by Application
D-psicose Market, by Geography
Key Questions Answered in the Report-
Published Date: Jun-2024
Published Date: Jun-2024
Published Date: May-2024
Published Date: Oct-2024
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