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Coconut Sugar Market Size, Regional Outlook, Growth Potential, COVID-19 Impact Analysis, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI3683

Coconut Sugar Market size is set to witness lucrative growth from 2021 to 2027 on account of the booming middle-aged population and the soaring preference for plant-derived products. The higher prevalence of obesity has led to rising consumer health awareness across the globe. According to estimates, around 177 million adults are likely to be severely affected by obesity through 2025. Increasing consumption of beverages and the proliferating need to substitute cane sugar will contribute to the market growth.

In terms of type of nutrient contents, the coconut sugar market is segmented into minerals, vitamin C, and phytonutrients. The mineral segment, comprising potassium, calcium, iron, zinc, and phosphorus, is expected to see notable proceeds with the increasing obligation for the effective growth of enzymes and hormones. Minerals offer numerous health benefits to the bones, muscles, heart, and ensure the proper functioning of the brain. The spiraling focus towards including macrominerals in consumer diets will also add a strong impetus to the segmental growth.

On the basis of application, the consumption of coconut sugar across the cosmetics sector will grow commendably with its increasing usage as an anti-aging ingredient. The hiking disposable consumer incomes have made way for the higher adoption of skincare commodities. The increasing consumer concerns over herbal cosmetic products have triggered the rising penetration of coconut sugar-based face packs and scrubs. The growing rate of industrialization coupled with the escalating air pollution levels will drive the penetration of coconut sugar in cosmetics.

Demand for coconut sugar in the alternative sweeteners sector is poised to see expansion between the period of 2021 to 2027 on account of higher adoption in chocolates, cakes, and brownies. As coconut sugar is healthier than refined sugar, it is extensively adopted in the bakery and confectionary sector. It is also largely preferred over regular table sugar as it is not processed and constitutes minor amounts of nutrients. The higher prevalence of diabetes and the increased intake of tea and juice sweeteners are other prominent factors contributing to the progression of the industry.

Based on region, Asia Pacific is anticipated to emerge as a profit-enhancing source for the coconut sugar market owing to the flourishing food & beverage and cosmetics sector. Owing to the higher availability of raw materials, the region records massive production of coconut sugar. The higher instances of diabetes and the surge in the number of technological advancements will play a key role in the market expansion in APAC.

Some of the major coconut sugar market players include Kopersai Nirasatria, Earth Circle Organics, Franklin Baker, Los Ricos Compania Corporation, Treelife, The Coconut Company Ltd., Holos Integra, Coco Sugar Indonesia, Ecobuddy, Celebes Coconut Corporation, Indonesia Sourcing, Coconut Secret, Saudi Food Ingredients Factory, TARDO Filipinas Inc., Kokos Natural, and SPRIG.

Strategic initiatives, such as acquisitions, partnerships, and mergers, capacity expansions, investments, and new product launches are some of the well-known initiatives undertaken by these firms to sustain the market competition.

For instance, in October 2019, Nutiva, introduced its novel Organic MCT Creamer to offer fast-acting, burn fat, clean energy, and enhanced mental clarity. The novelty is crafted with coconut milk powder, Nutiva Organic MCT Powder, and a touch of coconut sugar.

Effect of the COVID-19 crisis on the coconut sugar market trends

The COVID-19 pandemic added to huge global economic turbulence and paved the way for severe setbacks on the sales of a spread of industries across most parts of the world. Though, the intake of coconut sugar saw a potential increase due to the rising focus of consumers on health and hygiene amidst the outbreak.

What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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