Coconut Sugar Market size is set to grow by USD 206 million from 2024-2028, health benefits of coconut sugar boost the market, Technavio

NEW YORK, June 18, 2024 /PRNewswire/ -- The global coconut sugar market size is estimated to grow by USD 206 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.84%  during the forecast period. health benefits of coconut sugar is driving market growth, with a trend towards increasing use of coconut sugar in food and beverage industry  However, difficulty in sourcing tender coconuts  poses a challenge.Key market players include BetterBody Foods, Big Tree Farms Inc., Celebes Coconut Corp., Connecticut Coconut Co., Franklin Baker Co., Madhava Ltd., NOW Health Group Inc., Nutiva Inc., PT Mega Inovasi Organik, PT. COCO SUGAR Indonesia, Saudi Food Ingredients Factory, SINGABERA, Slurrp Farm, The Coconut Co. UK Ltd., The Divine Foods, The Groovy Food Co., Tradin Organic Agriculture B.V., Tree Grab, Treelife, and Yana Industries LLP.

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Market Driver

Coconut sugar is a low glycemic index sweetener, making it a preferred choice for health-conscious consumers in the food and beverage industry. With over 60% market share, this industry is the largest consumer of coconut sugar. It is used in various products like baked goods, confectionery, beverages, and dairy items. The demand for organic and natural products is fueling the market's growth, as consumers seek healthier and sustainable options. These factors are expected to significantly expand the global coconut sugar market during the forecast period. 

The obesity problem and rising health consciousness have fueled the demand for organic sweeteners in the market. Coconut sugar, a natural sweetener derived from the sap of coconut palms, is gaining popularity. Producers use traditional methods to extract the sap and then heat it to produce crystallized coconut sugar. This product is rich in minerals like iron, zinc, and calcium. The market for coconut sugar is growing significantly, with buyers in the food and beverage industry showing a strong interest. The trend towards sustainable and organic farming practices is also driving the demand for this product. The market is expected to continue its growth trajectory in the coming years. 

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Market Challenges

• The global coconut sugar market faces significant challenges in sourcing tender coconuts, primarily due to the aging and declining productivity of coconut trees in APAC countries. With Brazil's supply no longer sufficient to meet demand, market players are turning to the Philippines, Indonesia, and India. However, most of these trees were planted in the late 1950s, and their fruit-bearing capacity is diminishing. Natural calamities and plant diseases in the Caribbean have also reduced coconut plantations, exacerbating the issue. Consequently, securing a consistent supply of tender coconuts remains a major hurdle for the coconut sugar market.
• The Coconut Sugar market faces several challenges. Calorie and carbohydrate contents are similar to traditional sugar, but consumers seek healthier alternatives. Costs, especially for organic and fair trade varieties, can be high. Choices include conventional, organic, and fair trade coconut sugars. Canes and palms require careful cultivation and processing to maintain quality. Heath benefits, such as lower glycemic index, offer potential advantages. However, distribution and marketing can be difficult due to perishable nature and competition from other sweeteners. Dietary trends, such as paleo and vegan, may increase demand. Proper certification and labeling are essential to meet consumer expectations.

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Segment Overview 

This coconut sugar market report extensively covers market segmentation by  

1. Product 
• 1.1 Organic coconut sugar
• 1.2 Inorganic coconut sugar
2. End-user 
• 2.1 Commercial
• 2.2 Residential
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Organic coconut sugar-  The Coconut Sugar Market is experiencing steady growth due to increasing health consciousness and consumer preference for natural sweeteners. Demand is driven by its nutritional benefits, including lower glycemic index compared to refined sugars. Key producing countries like Indonesia and the Philippines are expanding production capacity to meet global demand. Coconut Sugar is gaining popularity in the food industry, particularly in baked goods and beverages, contributing to market expansion.

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Research Analysis

The Coconut Sugar market has witnessed significant growth in recent years due to the increasing demand for natural sweeteners. Coconut sugar, derived from the sap of coconut palms, is a popular alternative to white sugar and cane sugar. It contains essential minerals such as Potassium, Magnesium, and Zinc, making it a healthier choice for consumers. The glycemic index of coconut sugar is lower than that of white sugar, making it a preferred option for individuals with lifestyle-related diseases. Coconut sugar is widely used in beverages like tea and coffee, as well as in baked goods, candy, and other food products. It is also low in calories compared to regular sugar. Consumers are increasingly turning to natural sweeteners like honey and coconut sugar to reduce their intake of synthetic sweeteners, further fueling the growth of the Coconut Sugar market. Amino acids present in coconut sugar add to its nutritional value and health benefits.

Market Research Overview

The Coconut Sugar Market encompasses the production, consumption, and trade of this natural sweetener derived from the sap of coconut palms. Its production involves tapping the sap, which is then heated and concentrated to produce crystalline sugar. Coconut sugar contains essential minerals like iron, zinc, and calcium, making it a healthier alternative to refined sugar. The market is driven by the increasing health consciousness among consumers and the growing demand for organic and natural sweeteners. Consumption is widespread in various food and beverage industries, including bakery, confectionery, and beverages. The market also experiences seasonal fluctuations due to the dependence on coconut palms for production. The future outlook is promising, with potential growth in emerging markets and increasing consumer awareness of the health benefits of coconut sugar.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Organic Coconut Sugar
• Inorganic Coconut Sugar
• End-user
• Commercial
• Residential
• Geography
• APAC
• Europe
• North America
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio