New York, US, March 15, 2023 (GLOBE NEWSWIRE) -- Organic Coconut Sugar Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), Organic Coconut Sugar Market Global Research Report by Form, Distribution Channel, and Region —Forecast till 2027, the market share is relied upon to enlist a CAGR of 5.98% from 2020 to 2027 and arrive at USD 545.5 million before the finish of 2027.
Market Scope:
A by-product of coconut sap, organic coconut sugar is rich in essential nutrients like potassium, magnesium, iron, and zinc. The widespread use of coconut sugar as a natural sweetener because of its health advantages has significantly fueled market expansion. Those who have issues with blood sugar can benefit from it.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2027 | USD 545.5 million |
| CAGR | 5.98% |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Form, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Developing demand for the item to supplant raw coconut |
| The lower fructose level of coconut sugar |
Competitive Dynamics:
The key players of the market are:
- Big Tree Farms (US),
- The Coconut Company Ltd. (UK),
- Ecobuddy Group (India),
- Cocoa Sugar Indonesia (Indonesia),
- PT Holos Integra (Indonesia),
- Celebes Coconut Corporation (Philippines),
- Earth Circle Organics LLC (US),
- Saudi Food Ingredients Factory (Saudi Arabia),
- Coco Natura (Philippines),
- PT Mega InovasiOrganik (Indonesia)
- SunOpta Inc. (Canada),
- Los RicosCompania Corporation (Philippines),
- Tardo Filipinas Incorporated (Philippines),
- Madhava Ltd. (US),
- CV. India Sourcing (India), and Singapore
Market USP:
Market Drivers
The natural food industry's increased need for coconut sugar, the rising prevalence of diabetes and obesity, and the growing use of coconut sugar in a variety of cosmetic goods including body lotions, scrubs, and shaving gels are the main drivers affecting the organic coconut sugar market. Additionally, it is anticipated that growing consumer awareness of coconut sugar's benefits and the popularity of herbal skin care and hair products will pave the way for market expansion. Moreover, coconut sugar has a lower glycemic index than cane sugar and honey. On the other hand, as the vegan population grows, the market for coconut sugar will expand.
In the coming years, the market will presumably be driven by growing demand for the product to replace raw coconut. Comparing organic coconut sugar to pure sweeteners and nectar, it has a lower glycemic index. It thus reduces the rise in blood sugar levels in the circulatory system. The market is expected to grow during the anticipated period due to factors such as the increased popularity of Asian cuisine, rising demand for dairy alternatives, and potential medical benefits of organic coconut sugar.
Also, the market is being driven by the widespread use of lactose in the food and beverage sectors of the population as a whole, which is becoming more and more narrow-minded. The market will grow during the anticipated period as demand for natural coconut sugar to make products for healthy skin, such as body scrubs, shaving gels, and face and body creams, increases.
Fluctuating costs for raw materials and the creative process result in more work being done, which is caused by a lack of automation. As a result, it is a laborious cycle that is more manufacturer-focused and has long been a hindrance to the market's growth.
The expanding focus on a healthy lifestyle, consumers' propensity for naturally produced goods, and consumers' growing interest in everyday beauty care products and personal consideration items are the three trends that are currently on the rise. In the anticipated time frame, the industry is also anticipated to grow.
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Market Restraints
However, strict government rules related to marketing make it a major challenge for this product.
COVID-19 Analysis:
Worldwide, the COVID-19 pandemic has had an impact on numerous nations. Due to the personnel shortage, lack of investment, and disruption of the supply chain, it was challenging for the enterprises because of the significant financial impact. Yet, given the increased consumer interest in natural, healthy, and clean products following the pandemic, it is more likely that coconut sugar prices will increase.
Market Segmentation:
by Form
Due to its widespread use as a natural sweetener in a variety of bakery and confectionery products such cakes, pastries, and biscuits, the granular coconut sugar sector is anticipated to hold the majority of the market share.
By Distribution Channel
The store-based segment is expected to drive the market over the review period.
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Regional Analysis:
Because there are many unprocessed substances available and the region has a strong innovation base, it is expected that Asia Pacific would produce the most of the item. The item's costs will most likely rise throughout the speculative period implied by the frenzied demand in the global market. In comparison to the home market, the cost of the item is significantly higher on the international market. Due to rising public awareness of health issues, the market for natural coconut sugar in Asia-Pacific is anticipated to grow at the fastest rate worldwide. Additionally, it is predicted that the shifting dietary preferences of local consumers would aid in the growth of the global market for natural coconut sugar. Because of the growing demand for natural foods in various parts of the world, it is expected that the natural coconut sugar market would continue to grow globally. So, in order to compete more effectively on the global market, producers of organic coconut sugar must look into the expenses. It is anticipated that the rapid development of the food, beverage, and cosmetics industries in countries like Korea, China, and India will have a significant impact on business growth over the estimated time period.
The attractiveness of natural foods in North America is expected to cause this market to outpace the global natural coconut sugar market. Also, factors such as the district's high disposable income and growing wellbeing mindfulness are anticipated to support the growth of the global market.
On the food market in Europe, demand for coconut sugar is rising. Demand is being fueled by coconut sugar's nutritional advantages. Considering it to be a healthier alternative to sugar, European food and beverage companies are including it into the composition of their products. The market for food in Europe is seeing an increase in demand for coconut sugar. The demand for natural and high-quality food products is rising in Europe, which presents a chance for producers of coconut sugar in developing nations. Due to its distinct qualities and expanding availability, coconut sugar is a popular choice among European food producers.
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