The 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 the North American D-psicose market is primarily driven by an increasing number of obese and diabetic individuals, along with heightened health and wellness awareness. This demand is supported by the strong food and beverage industry in the region, as well as the FDA’s approval of D-psicose for use in various food products, which is a major factor fueling its market expansion.
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U.S. Leading the North American Market
North America is one of the largest markets for D-psicose, with the U.S. holding a dominant position. This is due to factors such as a well-established food industry, growing consumer interest in value-added food products, and a rising number of R&D investments to improve food product offerings.
Exploring Sugar Substitutes in Processed Foods
Food manufacturers in North America are increasingly exploring alternatives to sugar to meet the growing demand for processed foods. Changing consumer preferences and higher standards for food quality are pushing companies to incorporate healthier ingredients. D-psicose, which can replace sugar and reduce calorie content, is becoming a favored ingredient in many food and beverage applications.
Rising Health Concerns and Sugar-Free Demand
According to the Centers for Disease Control (CDC), 26.8 million people in the U.S. were diagnosed with diabetes in 2020, accounting for 10.2% of the population. The increasing prevalence of diabetes, along with a 42% obesity rate, has led to growing demand for sugar-free products, benefiting the D-psicose market.
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Organic Food Trends and Allulose Product Launches
The rise in organic food sales, which grew by 12.8% to $56.5 billion in 2020, is another factor supporting the D-psicose market. D-psicose, found in sources like figs, kiwi, and raisins, is gaining popularity among organic food producers. Companies are launching new allulose-based products, including Texas-based NadaMoo!'s introduction of no-sugar-added items in 2021.
Conclusion
In summary, the North American D-psicose market is poised for growth due to the increasing focus on health, sugar alternatives, and organic food trends. As more companies invest in R&D and new product innovations, the demand for D-psicose will continue to expand, particularly in the U.S., where consumer preferences are shifting towards healthier options.
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).
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