Impact Assessment of COVID-19 Outbreak on Isomaltulose Market
A recent study published by Transparency Market Research on the isomaltulose market includes global industry analysis and opportunity assessment for 2020-2030. Revenue generated from the global Isomaltulose market was valued at ~US$ 711.1 Mn in 2020, which is estimated to expand at a CAGR of ~5%, to reach US$ 1 Bn by 2030.
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Rising Demand for Non-cariogenic Sugar to Augment Market Growth
Non-cariogenic sugar demand, especially from the food & beverages industry and the healthcare industry, is driving the global isomaltulose market. Isomaltulose is known as non-cariogenic sugar, as oral bacteria cannot metabolize this sugar, thereby reducing the risk of mouth cancer and caries. Manufacturing companies have successfully produced products containing non-cariogenic sugar, including chocolates, milk, energy drinks, and bakery goods, among others, in response to the growing demand for non-cariogenic sugar items. In addition, rising demand for safe and non-caloric food products from fitness enthusiasts fuels the growth of the worldwide isomaltulose industry.
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Consumer Preference for Healthy Beverages to Increase Adoption of Isomaltulose
Rising demand for healthy beverages in Europe is expected to provide lucrative opportunities for players in the global isomaltulose market. It is anticipated that the ever-growing market for beverages or protein bars with natural ingredients would result in considerably high sales of IMO related goods. It is expected that players operating in the isomaltulose market will build on the advantage over the forecast period. Food & beverage companies are increasingly focusing on R&D to boost the nutritional and multifunctional profile of their food products, offering high health benefits. Due to the traditionally high fiber content of European diets, the apparent need for dietary fiber, as a functional component is low. IMO has expanded nutritional commodity market penetration, which will have a strong outpouring into the traditional consumer field. Major multinational manufacturers who have the advanced technology and resources to meet the growing needs of this market have a strong presence in East Asia.
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Impact of COVID-19 on Global Isomaltulose Market
Owing to the COVID-19 that has infected a significant number of people worldwide, global and regional players are expected to go through a sluggish period in the near future. This is likely to result in economic downturn over the next two-three years. Since isomaltulose is a convenience commodity and not a requirement for a large proportion of the population, demand is expected to decline for one or two years and then will increase and enter a growing stage in the coming years.
Global industries are facing are adversely affected due to the COVID-19 outbreak. On March 11, 2020, the WHO (World Health Organization) has approved it as a pandemic. Lockdown enforced to contain the spread of the pandemic has negatively impacted the supply chain network of several industries. Due to this outbreak of coronavirus, governments of several countries have restricted the import-export of products, which is highly impacting the isomaltulose market.
Isomaltulose Market Segmentation
Isomaltulose Market by Grade
- Food Grade
- Pharma Grade
Isomaltulose Market by End Use
- Confectionery
- Chewing Gums
- Hard Candies
- Soft Candies
- Gummies & Jellies
- Chocolates
- Bakery Products
- Breakfast Cereals
- Dairy Products
- Frozen Desserts
- Beverages
- Fruit Juice Beverages
- Malt Beverages
- Powder-based Drinks
- Carbonated Beverages
- Flouridated Salt
- Table Top/Spoon-for-spoon Sweeteners
- Supplements & OTC Medicine
- Ingredients
- Intense Sweeteners
- Non-cariogenic Sweetener
- Others
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