The escalating instances of lifestyle disorders such as diabetes and obesity have created a dire need for sugar-free products which is likely to create multiple growth opportunities for the coconut sugar market in the coming years. In addition, the application of coconut sugar in other applications such as cosmetics and personal care products has opened new avenues for the growth of the coconut sugar market during the forecast period of 2021-2031.
Coconut sugar is a byproduct of coconut palm sap and is rich in contents such as potassium, magnesium, iron, zinc, and others. The wide application of coconut sugar as a natural sweetener owing to the health benefits provided by it has accredited stupendous growth for the coconut sugar market.
The coconut sugar market can be segmented into calcium, zinc, phosphorous, calcium, potassium, vitamin C, and phytonutrients such as antioxidants, polyphenols, flavonoids, and anthocyanidin on basis of type. By application, the market can be categorized into bakery and confectionary, tea, food seasoner, juice, and others. Based on the products, the market can be bifurcated into organic and inorganic coconut sugar. The forms of coconut sugar available in the market are liquid, powder, granular, and others. Furthermore, the distribution channel can include hypermarkets, supermarkets, specialty stores, food processing industries, and others.
Inferring to the growth opportunities TMR has conducted an extensive market survey which involves the study of various parameters that affects the growth of the coconut sugar market. The research report throws light on important aspects that have an impact on the growth of the coconut sugar market. The thorough insights into the market assist the stakeholders and CXOs to make proper decisions regarding growth strategies and investments. Furthermore, the effect of COVID-19 on the overall market growth has also been included.
The popularity of vegan food has emerged as the latest trend among individuals. The use of coconut sugar as a vegan product has buckled up the demand for coconut sugar in recent times. The high prevalence of obesity and diabetes among a large global crowd has created the need for sugar substitutes which is likely to propel the growth of the coconut sugar market. Subsequently, the awareness regarding the health benefits of coconut sugar has proved to be a growth propeller for the coconut sugar market. The demand for sugar-free content in end-use industries such as food, beverage, bakeries, and confectioneries has opened new growth avenues. Thus there is an increase in coconut palm plantations owing to the multiple growth prospects. Consequently, the rise in disposable income of individuals in developing countries has led to increased spending on healthy foods, cosmetics, and personal grooming products which may ultimately provide tremendous growth opportunities for the coconut sugar market.
The leading players operating in the coconut sugar market are relentlessly focusing on enhancing product quality and creating new formulations owing to the rise in demand for coconut sugar in various end-use applications. Consistent R&D activities have given rise to novel technologies and innovations which may prove to be growth boosters for the coconut sugar market. The new product launches and marketing strategies have increased product awareness and ultimately are expected to escalate the sales of coconut sugar.
Some of the well-established players in the global coconut sugar market are Celebes Coconut Corporation, FARM MADE FOODS, FARM MADE FOODS, Integral Mulia Cipta, Mega Inovasi Organik, and THE COCONUT COMPANY,
The global coconut sugar market is anticipated to show good growth owing to the increase in the adoption of meal trends in North America. Thus, the region may witness exponential growth due to the increase in consumption of organic and clean labeled food products in this region. Asia Pacific may also showcase significant growth owing to the large production of coconut palms in this region.
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Coconut Sugar Market
