NEWARK, Del, July 31, 2023 (GLOBE NEWSWIRE) -- The global Coconut Sugar Market size is projected to increase from US$ 3,635.3 million in 2023 to US$ 4,936.2 million by 2033. The coconut sugar market sales are expected to grow at 3.6% CAGR over the forecast period during 2023 and 2033.
Consumers are increasingly becoming health-conscious and seeking natural and healthier alternatives to refined sugar. Coconut sugar is considered a healthy option across large swathes of consumers.
Coconut sugar is minimally processed and retains some nutrients in the coconut palm sap, including minerals and antioxidants. The growing awareness of the adverse health effects of excessive sugar consumption has led to a shift towards healthier sweeteners such as coconut sugar.
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Coconut Sugar: The Natural and Organic Sweetener of Choice for Health-Conscious Diets
There is a growing demand for natural and organic products across several sectors, including food and beverages. Coconut sugar is perceived as a natural and organic sweetener since it is derived from the sap of coconut palm blossoms without the use of artificial additives or chemicals. The increasing preference for natural and organic ingredients has fueled the demand for coconut sugar.
The rise in gluten-free and vegan diets has also contributed to the demand for coconut sugar. Coconut sugar is naturally gluten-free and suitable for individuals with gluten intolerance or celiac disease. It is derived from plants and does not involve any animal-derived ingredients, making it a popular choice among vegans and vegetarians.
Ethical Sourcing and Versatility Drive Demand for Sustainable Coconut Sugar
The sustainability and ethical sourcing aspects of coconut sugar production have gained attention in recent years. Coconut palms are considered sustainable as they require few resources compared to other crops, and they can grow in diverse tropical regions.
Several coconut sugar producers follow fair trade practices, ensuring fair wages and better working conditions for farmers. The growing emphasis on sustainability and ethical sourcing has contributed to the popularity of coconut sugar.
Coconut sugar's versatility has increased its use in the food and beverage sector. It is used as a sweetener in many products, including baked goods, confectionery, beverages, and dairy products.
The unique flavor profile of coconut sugar, often described as caramel-like, has also made it a sought-after ingredient in specialty foods and gourmet products.
Increased awareness about the benefits of coconut sugar, along with its wider availability in supermarkets, health food stores, and online platforms, has significantly contributed to market growth. Consumers have access to a greater variety of coconut sugar products, including different granulations and organic options, making it easier for them to incorporate it into their diets.
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Key Takeaways from the Coconut Sugar Market:
- The global coconut sugar industry is set to witness a sum of US$ 4,936.2 million by 2033 end.
- The global coconut sugar industry is poised to exhibit 3.6% CAGR over the forecast period.
- In 2023, the global coconut sugar industry is projected to hold a total of US$ 3,635.3 million.
- Based on end-use sector, cosmetic and personal care segment is likely to be the frontrunner in the global market.
“Rising inclination towards sustainability and ethical sourcing aspects is anticipated to drive demand through 2033 in the global market. Key companies implement rigorous quality control measures to build trust and loyalty among their customers, which is expected to be a key factor in purchasing decisions.” – says a lead analyst at FMI
Competitive Landscape:
Key manufacturers are focusing on building strong relationships with coconut farmers and suppliers to ensure a steady and reliable supply of coconuts. They might invest in infrastructure and technologies to improve processing efficiency and reduce production costs.
Manufacturers might invest in marketing and branding efforts to raise awareness about their coconut sugar products. This could involve online and offline advertising, social media campaigns, participation in trade shows and exhibitions, and collaborations with influencers or health experts. By effectively communicating their products' unique selling points and benefits, manufacturers can attract new customers and retain existing ones.
Top Companies Profiled in the Coconut Sugar Market
- Big Tree Farms
- Cocoa Sugar Indonesia
- Celebes Coconut Corporation
- Ecobuddy Group
- Los RicosCompania Corporation
- Madhava Ltd
- PT Holos Integra
- PT Mega InovasiOrganik
- SunOpta Inc
- The Coconut Company Ltd
- Tardo Filipinas Incorporated
- Earth Circle Organics LLC
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Recent developments:
- In February 2019, the creamy Natural Hazelnut Hazelnut Spread from Cocofina is the new, delectable addition to their inventive collection of coconut goods!
- Earth Circle Organics launched coconut sugar with a low glycemic index and a high mineral content.
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global coconut sugar industry presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the coconut sugar market based on form (granular, powdered, liquid), nature (organic, conventional) and application (food & beverages, cosmetics and personal care products) across various regions.
Coconut Sugar Market by Category
By Form:
- Granular
- Powdered
- Liquid
By Nature:
- Organic
- Conventional
By Application:
- Food & Beverages
- Cosmetics and Personal Care Products
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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About the Food & Beverage Division at Future Market Insights (FMI)
Expert analysis, actionable insights, and strategic recommendations – the Food & Beverage team at Future Market Insights (FMI) helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
Explore FMI's related ongoing Coverage in Food and Beverage Domain:
Coconut Derived Surfactants Market Size: The global coconut derived surfactants market size is likely to be evaluated at US$ 1,886.9 million in 2023. The market is expected to reach US$ 2,606.8 million in 2033 and exhibit immense growth at a CAGR of 3.3% in the forecast period.
Coconut Flour Market Share: Coconut Flour Market is estimated to grow at an unprecedented rate to achieve a value of USD 6,699 Million by the year 2032 with a CAGR of 12.3% during the assessment period 2022 to 2032.
Coconut Milk Market Trends: Coconut Milk Market is expected to have a robust growth rate registering a CAGR of 7% and reaching a healthy coconut milk market size of USD 2131.6 Million by the year 2032.
Coconut Oil Market Analysis: The overall demand in the Coconut Oil Market is set to grow at a steady CAGR of 5.4% between 2022 and 2032, totaling a valuation of around US$ 6.1 billion by 2032.
Coconut Milk Products Market Value: By 2033, Coconut Milk Products Market is expected to have generated US$ 2.74 billion in revenue, with a CAGR of 7.8% from 2023 to 2033.
Coconut Water Market Overview: Future Market Insights (FMI) forecasts positive growth for global coconut water market at a CAGR of 10.5% between 2020 and 2030
Coconut Wraps Market Forecast: According to Future Market Insights, the global coconut wraps market is poised to register a value CAGR of 6.5% across the 2023 to 2033 forecast period.
Packaged Coconut Water Market Sales: The packaged coconut water market is valued at US$ 1 billion for 2023, and it is predicted to expand to US$ 6.47 billion by 2033, at a CAGR of 20.5% during the forecast period.
Desiccated Coconut Market Growth: The global desiccated coconut market is estimated to be valued at US$ 8.2 Bn in 2022 and is projected to reach US$ 13.7 Bn by 2032. The global market is set to grow at a CAGR of 5.3% from 2022 to 2032.
Liquid Sugar Market Demand: The global liquid sugar market is expected to reach a market valuation of USD 130.3 Million by the year 2032, accelerating with a CAGR of 7.1% by 2022 to 2032, while it is valued at USD 65.9 Million in 2022.
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