The growth of the North American D-psicose market is mainly driven by factors such as the increasing number of obese and diabetic population, growing health and wellness concerns, a well-established food & beverage industry, and strong demand for sugar-free products. In addition, the approval of D-psicose by the FDA for use as a food additive in a variety of products further supports the growth of the D-psicose market in the region.
North America is one of the largest markets for D-psicose globally. This market is mainly dominated by the U.S. due to various factors, such as growing awareness regarding value-added food products, a well-established food industry, and the increasing number of R&D investments.
Food processors are exploring new products using sugar substitutes due to the growing demand for processed food products, changing customer preferences, and increasing food quality standards. Moreover, as North American processed food manufacturers face an increasingly competitive global business environment, they seek opportunities to improve the product yield. As D-psicose can replace sugar and reduce the calorie content of products, it is widely used in several applications, including food and beverages.
According to the CDC's (Centers for Disease Control) National Diabetes Statistics Report for 2020, approximately 26.8 million people (10.2% of the population) were diagnosed with diabetes in 2020, and the overall cases of diabetes in the U.S. had risen to an estimated 34.2 million people (10.5% of the population). In addition, significant sugar usage has also increased the prevalence of obesity by 42%, restricting sugar consumption and boosting the demand for sugar-free products.
The sales of organic food in the U.S. increased by 12.8% to $56.5 billion in 2020 and reflected twice the growth rate of that in 2019. Hence, the growing demand for organic food and D-psicose derived from various sources, including raisins, figs, kiwi fruit, and brown sugar, is expected to boost the demand for D-psicose in the region.
In addition, many companies are launching new allulose products in the market, significantly boosting the demand for D-psicose in the region. For instance, in February 2021, NadaMoo! (Texas), launched four new no-sugar-added products and strengthened its creamy line sweetened with organic allulose, organic erythritol, and stevia extract. Furthermore, the FDA lists D-psicose as generally recognized as safe (GRAS) and has approved its use as a food additive in various products. However, allulose is yet to be approved in Canada. Allulose has been determined to be a novel food ingredient under Health Canada's Food and Drug Regulations due to its limited history of use in food.
The key players operating in the D-psicose market in North America are Anderson Global Group, LLC (U.S.), Apura Ingredient Inc. (U.S.), Baolingbao Biology Co., Ltd. (China), Samyang Corporation (South Korea), Archer-Daniels-Midland Company (U.S.), Shandong Saigao Group Corporation (China), CJ CheilJedang Corporation (South Korea), Dezhou Huiyang Biotechnology Co., Ltd. (China), and Bonumose, Inc. (U.S).
Meticulous Research®, in its latest publication on the D-psicose Market, states that the D-psicose market is expected to reach $438.1 million by 2029, at a CAGR of 28.6% during the forecast period of 2022–2029.
Get Research PDF with Full Toc of 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 @ https://www.meticulousresearch.com/download-sample-report/cp_id=5259
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