Coconut Sugar Market Size, Share and Trends Analysis to 2030

PRESS RELEASE

Published March 30, 2023

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Coconut Sugar Market Size, Share & Trends Analysis Report by Application (Food And Beverage, Cosmetics And Personal Care), Sales Channel (Hypermarkets, Specialty Stores, E-Commerce, And Business-To-Business), Foam (Organic And Conventional) And End User (Commercial And Residential)- Market Outlook And Industry Analysis 2031″

The global coconut sugar market is estimated to reach over USD 429.88 million by 2031, exhibiting a CAGR of 6.85% during the forecast period.

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Coconut sugar is a naturally occurring sweetener made from the sap of the coconut palm and Sodium, potassium, and iron were found to be considerably (p .05) higher in coconut sap than in sugar palm and sugarcane sap. They are commonly used in sweets and can also be used in place of table sugar, which is excellent for people with blood sugar problems. The market is driven by rising diabetes and obesity levels, growing demands from the natural food industry, and increased usage of coconut sugar in various skin care products like scrubs, body creams, and shaving gels. Additionally, the market for coconut sugar will continue to benefit greatly from the growing vegan population.

The tight government laws and regulations governing the marketing of coconut sugar present a significant obstacle to the market’s growth rate. The sector is anticipated to grow due to rising consumer interest in the product to replace conventional sweeteners like cane sugar. Moreover, the product’s glycemic index is lower than honey and cane sugar.

It consequently lessens the likelihood of a blood sugar spike. It is anticipated that the demand for it to replace cane sugar in beverages like tea and coffee will increase, creating new growth opportunities for the business. However, the lack of automation results in additional work due to fluctuating pricing for natural resources and the design side. It is, therefore, a time-consuming cycle that is more manufacturer-focused and has long impeded the market’s growth.

List of Prominent Players in the Coconut Sugar Market:

The Coconut Company (UK) Ltd
The Divine Foods
Franklin Baker
Coco Sugar Indonesia
Big Tree Farm
NOW Foods
Nutiva Inc
Madhava Ltd.
AGRIM PTE LTD
Tradin Organic Agriculture B.V.
Koperasi Nirasatria
Singabera
Treelife
Groovy Food Company Ltd
Connecticut Coconut Company
Betterbody Foods
Wholesome Sweetener Inc.
celebes coconut corporation
Amala Earth
Brio Feed
BetterBody Foods & Nutrition
PT Holos Integra
PT Mega InovasiOrganik
Saudi Food Ingredients Factory
SunOpta Inc.
Tardo Filipinas Incorporated.

Market Dynamics:

Drivers-

There is a growing demand for sugar-free products due to the changing in lifestyle diseases such as diabetes and obesity, which will likely lead to several future growth prospects for the coconut sugar market. Additionally, using coconut sugar in other products like cosmetics and personal care items has created new opportunities for the coconut sugar market to expand throughout the projected period. The most recent trend among people is the acceptance of vegan cuisine, and the demand for coconut sugar has recently increased due to its vegan use. The need for sugar alternatives has arisen due to the increased prevalence of obesity and diabetes among a huge worldwide population, which is expected to drive.

Challenges:

Fluctuating costs for raw materials and the creative process result in more work being done, which is caused by a need for more automation. As a result, it is an uphill cycle that is more manufacturer-focused and has long hindered the market’s growth. Finding tender coconuts is one of the biggest obstacles to expanding the global coconut sugar industry.

Regional Trends:

The North America coconut sugar market is expected to register a major market share. The growth of clean-label and organic food consumption trends, particularly in the United States, has boosted coconut sugar’s success in this market. The ability of clients to pay a higher price for the product because of rising disposable income has fueled regional market expansion throughout the projection period. Besides, Asia Pacific had a substantial share of the market.

Because of the availability of many raw materials, technology, and the rising demand on the global market. As a result, to capture a larger portion of the worldwide market, producers must consider prices. The market is anticipated that the swift expansion of the food, wine, and cosmetics industries in nations like Korea, China, and India will favourably affect the growth of the coconut sugar market.

Recent Developments:

In February 2022-Big Tree Farms introduced Vacuum Evaporated Coconut Nectar (VECN) In February 2022, which aims to raise the bar for consistency and quality in the organic sweetener market. By advancing its formulation, VECN elevates conventional brown coconut sugar’s outstanding health advantages and distinctive warm flavour.
In March 2021-The Philippines declared that it is attempting to enhance coconut production. In 2010, palm oil replaced coconut oil as the most popular oil in the majority of Filipino grocery stores. This is because it comes from more natural origins in Malaysia and Indonesia, which is more complex and widely available than coconut oil.

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Segmentation of Coconut Sugar Market-

By Application