May 9,2022 | Food
The growth of the D-Psicose 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. 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.
The D-Psicose Market is expected to record a CAGR of 28.6% from 2022–2029 to reach US$438.1 million by 2029. 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. However, stringent government regulations and the adverse health impacts associated with D-Psicose are expected to restrain the growth of this market.
In accordance to the latest market research analysis offered on Bharatbook, the D-Psicose market study evaluates industry competitors and analyses the market at the regional and country levels. Based on type/form, the market is segmented into powder, syrup, and crystal. In 2022, the powder segment is expected to account for the largest share, which is mainly attributed to the ease of handling, transportation, storage, and better shelf-life.
Based on application, the market is segmented into food, beverages, and other applications. In 2022, the food segment is estimated to account for the largest share. It 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.
Based on geography, 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.
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).
For more insights of the market, please refer to D-Psicose Market