The Coconut Sugar market size reached USD 2.31 billion in 2021 and is expected to reach USD 3.57 billion by 2029, growing at a CAGR of 5.6 % during the forecast period. Coconut sugar also known as coco sap sugar is produced from the sap of cut flower buds of the coconut palm. Coconut Sugar comes in granules, rock, powder, cubes, and liquid form. It contains essential vitamins, macro and micronutrients that have been used as a traditional sweetener for thousands of years in the South and South-East Asian regions. The world's largest producers of coconuts are the Philippines and Indonesia. Coconut Sugar comes in granules, rock, powder, cubes, and liquid form. In Indonesia, about 600,000 metric tonnes of coconut sugar are produced annually, mostly for domestic use. The Indonesian powerhouse purchases over 30,000 metric tonnes of Coconut sugar per year for instant noodles and Unilever also purchase a significant volume of coconut sugar for their sweet soy sauce product. Indonesia currently has over 100,000 coconut sugar producers who bring over 50,000 mt of coconut sugar to the domestic market per month. The rising consumer desire for natural sugar alternatives with similar tastes and sweetness like white sugar is driving the coconut sugar industry. Coconut sugar has also widely become a popular sugar alternative because of its perceived health benefits and flavor. Consumer demand for coconut sugar is driven by the growing interest in a healthy lifestyle. Coconut sugar has unique properties and its growing availability makes it a favorable choice for food manufacturers all over the world. The food industries are using coconut sugar in processed foods such as chocolates and candies as healthier ingredients. This trend is expected to increase the demand for the Coconut sugar market during the forecast period. To know about the Research Methodology :- Request Free Sample Report
Coconut Sugar Market Dynamics:The growing use of Coconut Sugar by Whey Protein and the Superfoods Industry and Baking Industry Sweetener is an essential part of the daily menu both for household consumption and for the industry. Currently, the world’s population reaches more than six billion people, and of this, the consumption of sugar is doubled and reached more than 170 million tons. The increase in sugar consumption makes a huge opportunity in the business sector for maximizing coconut sugar products. Coconut sugar is one of the most popular natural sweeteners used by various industries for the last few decades. The advantage of coconut sugar is that it has a low glycemic index, which is 35, therefore so many coffee shops are using coconut sugar for making whipped coffee like dalgona coffee. Some milk protein companies and superfoods are also starting to use coconut sugar as a sweetener because they wanted a more natural sweetener for their products, and of course with a delicious taste. Coconut sugar is also used by the baking industry, some companies that sell healthy cake products generally use coconut sugar as one of the sweeteners so that their products feel more natural and healthy. Exporters of coconut sugar are taking advantage of key trends in the food market, such as the growing demand for natural and vegan products. These trends are increasing the demand for coconut sugar across the world. Cook Organic Foods LLP, Activa Enterprises Ventures Inc., and American Key Food Products are some of the market leaders in coconut sugar manufacturing. These major firms are investing in the growing demand for organic food in the United States and Europe. The world's top manufacturer of chocolate and cocoa products, Barry Callebaut, is using coconut sugar to strengthen organic chocolate sales. The company made the choice to use coconut sugar to make their chocolate healthier and draw the attention of target customers, which says a lot about the demand for the same. Growing demand for vegan products to drive Coconut Sugar Market growth There is an increasing demand for vegan products across the world. The use of coconut sugar as a vegan product has recently increased the demand for coconut sugar. The increasing prevalence of obesity and diabetes among a large global population has produced a need for sugar substitutes, which is expected to propel the coconut sugar market. The MMR reported that Europe accounted for more than one-third of the global vegan product market, with Europe expected to dominate in the coming years. Growing consumer awareness of the health benefits associated with a vegan diet is one of the key drivers for market demand. The number of applications for coconut sugar in the food and beverage industry is also growing. The demand for coconut sugar is expected to increase because coconut sugar is considered a vegan alternative to regular sugar. Organic certification is also seen as a quality standard and increases the credibility of coconut sugar in the market. Exporters of coconut sugar from developing countries are going for certification. They are targeting the organic sector in which the premium can be justified. The anti-aging benefits of Coconut sugar to boost the market growth Coconut sugar is used in the cosmetics sector for making skin and hair care products. . It is high in vitamins and minerals, including vitamin C, potassium, calcium, magnesium, iron, copper, phosphorus, phytonutrients, flavonoids, polyphenols, and anthocyanins. The content of these vitamins and minerals is very useful for skin health, therefore many skincare companies use coconut sugar as one of the ingredients for their products. Usually, coconut sugar used in scrub products has a rough texture. Increasing demand for the product in the manufacturing of different skincare products such as body scrubs, shaving gels, and face and body creams is expected to fuel market growth over the forecast period. The rise of the FMCG industry, along with rising consumer demand for herbal skin and hair care products, is likely to boost the Coconut sugar market growth. Increasing prevalence of obesity and diabetes across the world According to the WHO, there are increasing rates of diabetes among all age groups across the world. It is estimated that the rate of obesity has tripled, reaching about 60 million people. Unhealthy diets and sedentary lifestyles are the reason for the increased obesity. Healthy diets and exercise are the best ways to prevent type 2 diabetes. Coconut sugar has a glycemic index (GI) of approximately half as compared to regular table sugar. This makes coconut sugar the best alternative for people with diabetes. The rising prevalence of diabetes is likely to drive up demand for coconut sugar in the future years. Foods with a high glycemic index cause blood sugar levels to spike suddenly, affecting insulin levels. Coconut sugar also contains a fiber that is known to decrease glucose absorption. However. However, some leading diabetes organizations such as Diabetes UK are of the view that although coconut sugar is marketed as a healthier alternative to sugar. This trend is expected to increase the demand for the Coconut sugar market in the future. Many alternatives of Coconut Sugar are available in market The market faces stiff competition from the availability of alternative products such as maple syrup, corn syrup, chocolate syrup, honey, molasses, agave nectar, and date syrup. Maple syrup is one of the most common and popular natural sugar substitutes preferred by consumers because of its natural sweetness obtained from the maple tree. Chocolate syrup and honey are the also most common sweeteners that are used and available in different retail shops. Therefore, the availability of a large number of alternatives for coconut syrup hampers the growth of the coconut sugar market.
Coconut Sugar Market Segment Analysis:Based on Application, the personal care segment dominated the global market in the year 2021 and is estimated to reach $259.6 million by 2029. Coconut sugar's crystalline nature makes it ideal for use in scrubs and easily dissolves in a variety of personal care products. Body cleansers, shampoos, and sunscreens all include coconut sugar. Furthermore, coconut sugar has a pleasant sensation when applied to the skin, which is increasing the demand for personal care products. Coconut sugar is used in the formulation of lotions, and creams because of the presence of iron, zinc, calcium, and potassium. Based on Nature, the Conventional segment is expected to account for the highest revenue share during the forecast period. Conventional coconut sugar is the dominant segment around the world as the production and availability are higher for this segment. The organic segment is expected to be the fastest-growing segment during the forecast period because of the rising demand for organic natural sweeteners in the market as more and more customers are shifting toward organic products. Based on Form, The granular coconut sugar segment is expected to hold a significant share of the market because of its wide application in various bakery and confectionery items such as cakes, pastries, and biscuits as a natural sweetener.
Coconut Sugar Market Regional InsightsIn North America, the Coconut Sugar market accounted for the highest revenue share in 2021. North America is expected to witness the highest growth in the market because of the increase in snack consumption. The rise in organic and clean-label food consumption trends, especially in the U.S., has increased the sales performance of coconut sugar in this region. According to the Organic Trade Association, organic food sales in the U.S. increased by 5.8% in 2021, which is expected to drive the coconut sugar market growth in the North American region. The Asia Pacific region dominated the global Coconut Sugar market share in 2021. Asia Pacific is expected to have significant growth because coconut sugar has widely been used as a natural sweetener by people in Malaysia and Indonesia. Indonesia is the largest producer of coconut which makes the wide availability of raw materials. The increase in the disposable income of the consumers allows them to pay a premium price for the product, which has boosted its regional market growth during the forecast period. Asia Pacific is expected to be the largest producer of the item due to abundant raw material availability and technology and the surging demand in the international market. As a result, the manufacturers need to look into the prices to gain a higher share of the global market. The rapid growth of the food & beverage and cosmetics industry in countries like Korea, China, and India is expected to have a positive impact on the Coconut Sugar Market growth over the forecast period. This study focuses on the major driving factors and restraints that affect the Coconut Sugar market. Global and regional players in the Coconut Sugar industry are discussed in depth, including revenue data and market share information. The Coconut Sugar market analysis includes trends in Coconut Sugars, information about the potential market and needs, and lists of potential competitors. MMR has segmented the global Coconut Sugar Market report based on Application, form, Nature, and region. The report contains strategic profiling of top key players in the market, a wide-ranging analysis of their core competencies, and their strategies like new product launches, growths, agreements, joint ventures, partnerships, and acquisitions that apply to the businesses. Our team of analysts can also provide you with data in excel files and pivot tables or can assist you in creating presentations from the data sets available in the report.
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Coconut Sugar Market Report Coverage Details Base Year: 2021 Forecast Period: 2022-2029 Historical Data: 2017 to 2021 Market Size in 2021: US $ 2.31 Bn. Forecast Period 2022 to 2029 CAGR: 5.6% Market Size in 2029: US $ 3.57 Bn. Segments Covered: by Form • Granular Coconut Sugar • Liquid Coconut Sugar • Powdered Coconut Sugar by Nature • Organic • Conventional by Application • Food and Beverage • Cosmetics • Personal Care
Coconut Sugar Market, by Region• North America • Europe • Asia Pacific • Middle East and Africa • South America
Coconut Sugar Market Key Players are:• Big Tree Farms Inc. • Celebes Coconut Corp. • Earth Circle Organics • Ecobuddy Exports • Edibles Delicatessen • Madhava Ltd. • NOW Health Group Inc. • Nutiva Inc. • PT Mega Inovasi Organik • PT. COCO SUGAR INDONESIA • Saudi Food Ingredients Factory • SunOpta Inc. • TARDO Filipinas Inc. • The Coconut Company UK Ltd. • The Groovy Food Co. • Tradin Organic Agriculture B.V. • Treelife FAQs: 1. Who are the key players in the Coconut Sugar market? Ans. The Coconut Company UK Ltd., The Groovy Food Co., Tradin Organic Agriculture B.V., and Treelife are some of the market players in the Coconut Sugar industry. 2. Which Application segment dominates the Coconut Sugar market? Ans. The Cosmetic segment accounted for the largest share of the global Coconut Sugar market in 2021. 3. How big is the Coconut Sugar market? Ans. The global Coconut Sugar market size reached USD 2.31 billion in 2021 and is expected to reach USD 3.57 billion by 2029, growing at a CAGR of 5.6 % during the forecast period. 4. What are the key regions in the global Coconut Sugar market? Ans. Based On the region, the market has been classified into North America, Europe, Asia Pacific, Middle, East and Africa, and Latin America. Asia Pacific dominates the global Coconut Sugar market.
1. Global Coconut Sugar Market: Research Methodology 2. Global Coconut Sugar Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to the Global Coconut Sugar Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Coconut Sugar Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Coconut Sugar Market Segmentation 4.1 Global Coconut Sugar Market, by Nature (2021-2029) • Organic • Conventional 4.2 Global Coconut Sugar Market, by Form (2021-2029) • Granular Coconut Sugar • Liquid Coconut Sugar • Powdered Coconut Sugar 4.3 Global Coconut Sugar Market, by Application (2021-2029) • Food and Beverage • Cosmetics • Personal Care 5. North America Coconut Sugar Market(2021-2029) 5.1 North America Coconut Sugar Market, by Nature (2021-2029) • Organic • Conventional 5.2 North America Coconut Sugar Market, by Form (2021-2029) • Granular Coconut Sugar • Liquid Coconut Sugar • Powdered Coconut Sugar 5.3 North America Coconut Sugar Market, by Application (2021-2029) • Food and Beverage • Cosmetics • Personal Care 5.4 North America Coconut Sugar Market, by Country (2021-2029) • United States • Canada • Mexico 6. Europe Coconut Sugar Market (2021-2029) 6.1. European Coconut Sugar Market, by Nature (2021-2029) 6.2. European Coconut Sugar Market, by Form (2021-2029) 6.3. European Coconut Sugar Market, by Application (2021-2029) 6.4. European Coconut Sugar Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Coconut Sugar Market (2021-2029) 7.1. Asia Pacific Coconut Sugar Market, by Nature (2021-2029) 7.2. Asia Pacific Coconut Sugar Market, by Form (2021-2029) 7.3. Asia Pacific Coconut Sugar Market, by Application (2021-2029) 7.4. Asia Pacific Coconut Sugar Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Coconut Sugar Market (2021-2029) 8.1 Middle East and Africa Coconut Sugar Market, by Nature (2021-2029) 8.2. Middle East and Africa Coconut Sugar Market, by Form (2021-2029) 8.3. Middle East and Africa Coconut Sugar Market, by Application (2021-2029) 8.4. Middle East and Africa Coconut Sugar Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Coconut Sugar Market (2021-2029) 9.1. South America Coconut Sugar Market, by Nature (2021-2029) 9.2. South America Coconut Sugar Market, by Form (2021-2029) 9.3. South America Coconut Sugar Market, by Application (2021-2029) 9.4 South America Coconut Sugar Market, by Country (2021-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Big Tree Farms Inc. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Celebes Coconut Corp. 10.3 Earth Circle Organics 10.4 Ecobuddy Exports 10.5 Edibles Delicatessen 10.6 Madhava Ltd. 10.7 NOW Health Group Inc. 10.8 Nutiva Inc. 10.9 PT Mega Inovasi Organik 10.10 PT. COCO SUGAR INDONESIA 10.11 Saudi Food Ingredients Factory 10.12 SunOpta Inc. 10.13 TARDO Filipinas Inc. 10.14 The Coconut Company UK Ltd. 10.15 The Groovy Food Co. 10.16 Tradin Organic Agriculture B.V. 10.17 Treelife