Coconut Sugar Market, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3683
Coconut sugar market size may witness substantial growth over the forecasted timeframe owing to rising consumer inclination towards natural product as well as increasing consumer demand for healthier alternative to sulphur based white sugar. It has lower amount of fructose than white sugar that helps in healthy functioning of human organs, as fructose converted into fat gets accumulated around kidney and liver may harm body function. The demand for coconut sugar may increase owing its organic nature and increasing awareness among the population for healthy eating habits which may foster market growth.
Coconut sugar is manufactured from the sap of coconut plant which contains nutrients like calcium, potassium, zinc, iron, polyphenols, along with antioxidants offering health benefits such as easy digestion and increased energy levels. Increasing demand for organic products in Denmark owing to stringent government regulations on quality, awareness campaigns by government, and rising consumer inclination towards high quality products is expected to have positive impact on coconut sugar market demand. In addition, the Danish Agriculture & Food Council expects that 20% of the Danish land area will be used for organic farming by 2020.
Increasing demand for coconut sugar based vegan chocolates and availability of coconut sugar-based products in premium brands such as Lindt, Toblerone, Hershey is expected to have positive impact on increased penetration of the product. In Sweden, sale turnover for organic chocolates, sugar, jam, and confectionary was over USD 65 million in 2017. Rising demand for healthier ingredients from chocolate industry owing to increasing consumer awareness related to high sugar intake leading to chronic diseases such as high blood pressure and diabetes is expected to augment market share.
Increasing geriatric population and rising consumer concerns related to herbal cosmetic products in Europe is projected to drive the demand for coconut sugar from cosmetics industry in the region. Coconut sugar based scrubs & face packs are widely used to remove dead skin cells without harming the skin owing to its granular, lubricating, and anti-oxidant nature which may accelerate market share. In UK, over 735 thousand women have used facial scrubs & masks in 2017. Increasing air pollution level owing to rapid industrialization in eastern European countries may stimulate product demand as contaminants such as dirt and volatile organic matter settles on the upper layer of skin, causing skin problems. Coconut sugar-based scrubs contain small granules which help in removing debris from skin pores to provide soft & supple skin tone which may foster market share.
Increase in prevalence of diabetes owing to rising geriatric population, obesity rates, change in dietary patterns, and substandard healthcare conditions in developed and developing countries with high per capita income of the consumers may increase product demand over the projected period. According to WHO, in 2016, an estimated of 1.5 million deaths were caused across the globe directly by symptoms of diabetes. Coconut sugar has versatile nature & can be used in various everyday foods & beverages such as tea, coffee and smoothies. It exhibits various nutritional characteristics such as rich concentration of fiber, vitamin C, folate, potassium, and copper. Coconut sugar has high saturated fat from short and medium chain fatty acids which make it easily digestible and does not spike insulin levels quickly as regular table sugar. It is rich in lauric acid which is a beneficial compound that destroys a wide variety of host disease such as flu, and viral infections which may trigger coconut sugar market share.
North America coconut sugar market demand led by U.S. and Canada should witness a significant growth during forecasted period owing to rising consumer awareness on health issues pertaining to obesity and diabetes. Responding to growing consumer demand big restaurants chains across U.S. and Canada such as Starbucks, and Tim Hortons are offering coconut sugar alternative food & beverages in their outlets. These are the major outlets with their presence across the globe. Revenue generated by Starbucks was over USD 20 billion in 2018 indicates high potential for the product penetration through restaurant chains. Coconut sugar based bakery, confectionary, and beverage items are widely consumed owing to its low fructose content and organic nature which may trigger market share.
Europe driven by UK, Germany, France, and Italy coconut sugar market size may witness moderate growth during forecasted period. Increasing consumer inclination towards organic chocolates, jams, honey, and confectionary items owing to rise in disposable income, and shift towards healthy, high quality products may accelerate market share. Coconut based sugar is widely used in manufacturing of chocolates and jams owing to its organic nature, and flavor enhancing characteristics.
Asia Pacific coconut sugar market demand led by Japan, China, and India may see significant growth up to 2025. Rise in disposable income and increasing consumer inclination for high quality and natural cosmetics may foster market growth. It is widely used in manufacturing face scrubs, peel off masks, and moisturizers as it prevents loss of moisture in skin and is compatible with other organic ingredients in cosmetics such as aloe vera, charcoal, and fruit extracts.
Global coconut sugar market share is fragmented as market consist of several small and medium size market players operating in country and regional level. Companies such as Kopersai Nirasatria, Earth Circle Organics, Franklin Baker, Kokos Natural, SPRIG, Nutiva, Los Ricos Compania Corporation, and Saudi Food Ingredients Factory are key players in the market.
Coconut Sugar Market, By Application, 2014-2025 (Tons) (USD Million)
- Food & Beverages
Coconut Sugar Market, By End-Use, 2014-2025 (Tons) (USD Million)
- Food seasoners
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Kopersai Nirasatria
- Kokos Natural
- Coco Sugar Indonesia
- Holos Integra
- Franklin Baker
- Earth Circle Organics
- Los Ricos Compania Corporation
- The Coconut Company Ltd
- Indonesia Sourcing
- Saudi Food Ingredients Factory
- Celebes Coconut Corporation
- Coconut Secret
- TARDO Filipinas Inc.
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