ALBANY, New York, March 20, 2020 /PRNewswire/ -- Driven by myriad of factors the global coconut syrup market is expected to witness a substantial growth during the tenure of 2019 to 2029, says a recent study by Transparency Market Research. As per the report, the market is projected to exhibit a massive CAGR of 8% during the tenure and is anticipated to reach to the value of US$ 354 Mn by the end of the forecast period. According to the report, the growth of the market is also attributed to growing demand for low glycemic index food products also accelerate the growth of global coconut syrup market.
To provide precise analysis of the market, the report classifies the coconut syrup market into various segments. These insights allow the players to develop effective strategies to accelerate the growth of their business in global coconut syrup market. The segmentation of the market as per the study is mentioned below:
The liquid coconut syrup segment under form category was the leading segment in 2019 and accounted for approximately 73% of the market. Furthermore, the segment accounts for 27% of the market in terms of value.
The conventional segment was leading in terms of nature with market share of 81.8% in 2019 and the organic coconut syrup has market share 18.2% in terms of value.
Based on application, the food segment led the market with a share of ~ 59% in 2019. The food segment is expected to remain dominant during the forecasted period. The beverage and other applications segments are expected to hold ~ 43% and 12% of the market, respectively by 2029.
Explore the latest study on global coconut syrup market under the title: Coconut Syrup Market (Form: Liquid and Powder; Nature: Organic and Conventional; Flavor: Original/Unflavored and Flavored; Function: Sweetening, Texturizing, Preservative, and Flavoring; Application: Food and Beverages; and Sales Channel: Direct Sales and Indirect Sales) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2029 at https://www.transparencymarketresearch.com/coconut-syrup-market.html
Major Drivers Driving the Growth of Global Coconut Syrup Market
Growth in the Demand for Sugar free Food products to propel the Growth
Consumers nowadays have become health-oriented, and are limiting the consumption of food products that are perceived to have high levels of sugar, fat, calories, and sodium. The sales of healthier varieties should continue to rise, amid rising health-conscious population. The demand for gluten-free and sugar-free products continues to rise, as celiac disease and gluten intolerance become more visible and widely diagnosed. Organic coconut syrup is gluten-free and can be used widely as non-sugar sweetener. Due to the gluten-free and minimal percentage of sugar, coconut syrup is used widely in the food products such as fruits, snacks, pastries, jams, desserts, and bakery products such as biscuits, muffins, baked apples, donuts, and others. Coconut syrup is also used in pancake, waffle, hot bread, and French bread toast. This as a result propels the growth of global coconut syrup market during the tenure of 2019 to 2029.
Asia Pacific is projected to have the largest share in global coconut syrup market. The dominance of the region is attributed to the growth in the demand for organic food products in countries like China and India.
However, the rising health-conscious and vegan customers in countries like U.S., the demand for coconut syrup has skyrocketed in the country. This makes North America as the fastest growing regions in global coconut syrup market.
Analyze Coconut Syrup Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
The global coconut syrup market is highly competitive and moderately fragmented. This nature of the market is the result of the presence of a handful of prominent players that are dominating the dynamics of the market. However, due to this scenario, the new players might find it difficult to enter the global coconut syrup market.
Therefore, these players are indulging in strategies such as mergers and collaborations to acquire adequate resources that can help them gain sustainability in the global coconut syrup market.
The global coconut syrup market is segmented on the basis of:
Coconut Syrup Market, by Form
Coconut Syrup Market, by Nature
Coconut Syrup Market, by Flavor
Coconut Syrup Market, by Function
Coconut Syrup Market, by Application
Bakery & Confectionary
Sauces & Salads
Other Food Products
Tea & Coffee
Coconut Syrup Market, by Sales Channel
Traditional Grocery Stores
Other Sales Channels
Coconut Syrup Market, by Region
Rest of North America
Rest of Europe
Asia Pacific (APAC)
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Food and Beverages Industry,
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