NEW
YORK, June 18, 2024 /PRNewswire/ -- The global
coconut sugar market size is estimated to grow by USD 206 million from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
5.84% during the forecast period. health benefits
of coconut sugar is driving market growth, with a trend
towards increasing use of coconut sugar in food and beverage
industry However, difficulty in sourcing tender coconuts
poses a challenge.Key market players include BetterBody
Foods, Big Tree Farms Inc., Celebes Coconut Corp., Connecticut
Coconut Co., Franklin Baker Co., Madhava Ltd., NOW Health Group
Inc., Nutiva Inc., PT Mega Inovasi Organik, PT. COCO SUGAR
Indonesia, Saudi Food Ingredients Factory, SINGABERA, Slurrp Farm,
The Coconut Co. UK Ltd., The Divine Foods, The Groovy Food Co.,
Tradin Organic Agriculture B.V., Tree Grab, Treelife, and Yana
Industries LLP.
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Coconut Sugar Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
5.84%
|
Market growth
2024-2028
|
USD 206
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
5.43
|
Regional
analysis
|
APAC, Europe, North
America, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 50%
|
Key
countries
|
China, Philippines, US,
India, and Germany
|
Key companies
profiled
|
BetterBody Foods, Big
Tree Farms Inc., Celebes Coconut Corp., Connecticut Coconut Co.,
Franklin Baker Co., Madhava Ltd., NOW Health Group Inc., Nutiva
Inc., PT Mega Inovasi Organik, PT. COCO SUGAR Indonesia, Saudi Food
Ingredients Factory, SINGABERA, Slurrp Farm, The Coconut Co. UK
Ltd., The Divine Foods, The Groovy Food Co., Tradin Organic
Agriculture B.V., Tree Grab, Treelife, and Yana Industries
LLP
|
Market Driver
Coconut sugar is a low glycemic index sweetener, making it a
preferred choice for health-conscious consumers in the food and
beverage industry. With over 60% market share, this industry is the
largest consumer of coconut sugar. It is used in various products
like baked goods, confectionery, beverages, and dairy items. The
demand for organic and natural products is fueling the market's
growth, as consumers seek healthier and sustainable options. These
factors are expected to significantly expand the global coconut
sugar market during the forecast period.
The obesity problem and rising health consciousness have fueled
the demand for organic sweeteners in the market. Coconut sugar, a
natural sweetener derived from the sap of coconut palms, is gaining
popularity. Producers use traditional methods to extract the sap
and then heat it to produce crystallized coconut sugar. This
product is rich in minerals like iron, zinc, and calcium. The
market for coconut sugar is growing significantly, with buyers in
the food and beverage industry showing a strong interest. The trend
towards sustainable and organic farming practices is also driving
the demand for this product. The market is expected to continue its
growth trajectory in the coming years.
Research report provides comprehensive data on
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Report
Market Challenges
- The global coconut sugar market faces significant challenges in
sourcing tender coconuts, primarily due to the aging and declining
productivity of coconut trees in APAC countries. With Brazil's supply no longer sufficient to meet
demand, market players are turning to the
Philippines, Indonesia, and
India. However, most of these
trees were planted in the late 1950s, and their fruit-bearing
capacity is diminishing. Natural calamities and plant diseases in
the Caribbean have also reduced
coconut plantations, exacerbating the issue. Consequently, securing
a consistent supply of tender coconuts remains a major hurdle for
the coconut sugar market.
- The Coconut Sugar market faces several challenges. Calorie and
carbohydrate contents are similar to traditional sugar, but
consumers seek healthier alternatives. Costs, especially for
organic and fair trade varieties, can be high. Choices include
conventional, organic, and fair trade coconut sugars. Canes and
palms require careful cultivation and processing to maintain
quality. Heath benefits, such as lower glycemic index, offer
potential advantages. However, distribution and marketing can be
difficult due to perishable nature and competition from other
sweeteners. Dietary trends, such as paleo and vegan, may increase
demand. Proper certification and labeling are essential to meet
consumer expectations.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This coconut sugar market report extensively covers market
segmentation by
- Product
- 1.1 Organic coconut sugar
- 1.2 Inorganic coconut sugar
- End-user
- 2.1 Commercial
- 2.2 Residential
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Organic coconut sugar- The Coconut Sugar Market
is experiencing steady growth due to increasing health
consciousness and consumer preference for natural sweeteners.
Demand is driven by its nutritional benefits, including lower
glycemic index compared to refined sugars. Key producing countries
like Indonesia and the Philippines are expanding production
capacity to meet global demand. Coconut Sugar is gaining popularity
in the food industry, particularly in baked goods and beverages,
contributing to market expansion.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Coconut Sugar market has witnessed significant growth in
recent years due to the increasing demand for natural sweeteners.
Coconut sugar, derived from the sap of coconut palms, is a popular
alternative to white sugar and cane sugar. It contains essential
minerals such as Potassium, Magnesium, and Zinc, making it a
healthier choice for consumers. The glycemic index of coconut sugar
is lower than that of white sugar, making it a preferred option for
individuals with lifestyle-related diseases. Coconut sugar is
widely used in beverages like tea and coffee, as well as in baked
goods, candy, and other food products. It is also low in calories
compared to regular sugar. Consumers are increasingly turning to
natural sweeteners like honey and coconut sugar to reduce their
intake of synthetic sweeteners, further fueling the growth of the
Coconut Sugar market. Amino acids present in coconut sugar add to
its nutritional value and health benefits.
Market Research Overview
The Coconut Sugar Market encompasses the production,
consumption, and trade of this natural sweetener derived from the
sap of coconut palms. Its production involves tapping the sap,
which is then heated and concentrated to produce crystalline sugar.
Coconut sugar contains essential minerals like iron, zinc, and
calcium, making it a healthier alternative to refined sugar. The
market is driven by the increasing health consciousness among
consumers and the growing demand for organic and natural
sweeteners. Consumption is widespread in various food and beverage
industries, including bakery, confectionery, and beverages. The
market also experiences seasonal fluctuations due to the dependence
on coconut palms for production. The future outlook is promising,
with potential growth in emerging markets and increasing consumer
awareness of the health benefits of coconut sugar.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Organic Coconut Sugar
- Inorganic Coconut Sugar
- End-user
-
- Geography
-
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio