阿洛酮糖正式获批 代糖产业闻风而动

Core Viewpoint - The approval of D-allulose as a new sugar substitute in China marks a significant development in the low-calorie sweetener market, indicating growth potential for the industry and related companies [2][3]. Industry Overview - The sugar substitute market in China reached a scale of 1.8 billion yuan in 2023, with projections to exceed 3.3 billion yuan by 2028 [3]. - The increasing consumer demand for healthier diets and reduced sugar intake is driving the growth of the sugar substitute market, with 44% of respondents indicating a greater focus on sugar and fat control [3]. - The global market for allulose is projected to grow from $237 million in 2023 to $423 million by 2030, with a compound annual growth rate of 7.7% [4]. Company Developments - Several companies have already positioned themselves in the allulose market, with production capacities primarily aimed at overseas sales prior to the recent approval for domestic use [6]. - Baolong Chuangyuan has a 15,000-ton crystalline sugar project set to commence production in May 2024 [6]. - Bailingbao plans to start a 20,000-ton allulose expansion project by March 2025, with an expected annual capacity of approximately 30,000 tons by 2026 [6]. - Sanyuan Biological has a 10,000-ton allulose production line that is operating well, with plans for a second line [6]. - Huakang Co. is collaborating with Jiangnan University to develop efficient green production methods for allulose, with a planned capacity of 40,000 tons per year [6]. Stock Performance - As of July 2, 2023, sugar substitute concept stocks have seen significant gains, with an average increase of over 24% this year, outperforming the Shanghai Composite Index [7]. - Notable performers include Baolong Chuangyuan and Bailingbao, both of which have seen stock prices surge [7]. - Five sugar substitute concept stocks reported net profits exceeding 100 million yuan in Q1 2023, including Meihua Biological and Xinghuo Technology [7]. - Seven sugar substitute concept stocks have rolling price-to-earnings ratios below 30, indicating potential investment opportunities [7].