Organic Coconut Sugar Market is Global projected to grow at a CAGR of 5.86% by Forecast to 2024
Pune, Maharashtra, February 26 2020 (Wiredrelease) Market Research Future Market Overview
Global Organic Coconut Sugar Market is expected to register a CAGR of 5.86% from 2019 to 2024 and reach USD 397.34 million by the end of 2024. Coconut sugar refers to coconut palm sugar, which is obtained by processing the coconut palm sap. Due to its lower fructose levels, coconut sugar is considered as a healthy substitute for other sugars. Resultantly, it is rapidly gaining popularity among health-conscious consumers and widely used across the food beverage industries. Various researches have proved that due to its low glycemic index, coconut sugar results in a lower insulin spike than the regular white sugar. As a result, the consumption of coconut sugar is increasing more dramatically among people suffering from diabetic conditions. Health benefits of coconut sugar alongside the growing popularity of organic food products drive the growth of the global organic coconut sugar market rapidly. Over the past couple of years, the market has been witnessing an exponential rise in terms of both revenues as well as production.
Additional factors such as the increasing demand for organic food products from all over the globe, rising disposable income and changing food habits of consumers substantiate the growth of the market. The rising popularity of a health drink cooling beverage and applications of organic coconut sugar across FB industries drive its market growth. Increasing consumption of organic coconut sugar among health-conscious populaces fuels up the market demand.
On the other hand, availability of counterfeited, low-cost products acts as a major growth impeder for the organic coconut sugar market, taking the quality products off the shelf. Nevertheless, longer shelf life, along with improving economic conditions worldwide, would support the growth of the market throughout the assessment period. Furthermore, the expansion of distribution channels is anticipated to foster market growth during the review period. Also, popularity increasing consumption worldwide encourage providers to make their products available in convenient packaging like bottle/can or pouches would drive the market growth.
Highly competitive, the organic coconut sugar market appears to be well established with the presence of several large and small-scale players. Some of them are having an excellent international presence. Organic coconut sugar producers strive to develop their products with advanced technologies using natural ingredients. Key trends observed among the market players include mergers acquisitions, collaboration, expansion, and product launch.
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Players leading the Global Organic Coconut Sugar Market include, Big Tree Farms (US), Coco Sugar Indonesia (Indonesia), The Coconut Company Ltd. (UK), PT Holos Integra (Indonesia), Saudi Food Ingredients Factory (Saudi Arabia), Celebes Coconut Corporation (Philippines), Los Ricos Compania Corporation (Philippines), Earth Circle Organics LLC (US), Ecobuddy Group (India), Tardo Filipinas Incorporated (Philippines), SunOpta Inc. (Canada), Madhava Ltd. (US), CV. India Sourcing (India), Coco Natura (Philippines), Singabera, and PT Mega Inovasi Organik (Indonesia), among others.
Industry/ Innovation/ Related News
February 16, 2020 Rogers Sugar Inc. (RSI Canada), a leading global company engaged in refining, packaging, and marketing sugar and maple products, announced an increase in its price target by TD Securities from C$4.75 to C$5.00. RSI, through its subsidiary, Lantic Inc., offers granulated, plantation raw, brown, organic coconut sugar and other sweeteners and sweetened products.
The report has been segmented into three major dynamics.
By Form: Powder, Granular, and others.
By Distribution Channel: Store-based [Supermarkets Hypermarkets, Convenience Stores, others] and Non-Store-based.
By Regions: Europe, Americas, Asia Pacific, Middle East Africa, and Rest-of-the-World.
Continuing with its dominance, the Asia Pacific Organic Coconut Sugar Market is expected to witness exponential growth over the assessment period. Factors such as abundant raw material and technical know-how foster the growth of the market. Rapidly developing economies like India and China would support the regional market to retain its dominance throughout the review period. Besides, increasing consumption of organic coconut sugar in various food products led by the changing consumer preference lifestyles and increasing the uptake of vegan and healthy diet act as a significant driving force for the regional market growth. Europe holds a second-largest share in the global organic coconut sugar market. Moreover, the growing food beverages industry drives the growth of the regional market, hugely. European countries, France, Italy, and Germany account for major contributors to the regional market growth. Augmenting demand for health drinks with lesser calories, mainly in France Italy, is expected to provide a massive impetus to the growth of the regional market, driving the import export of organic coconut sugar over the anticipated period.
North America is also a prominently growing market for organic coconut sugar. The market growth attributes to the high consumption of sugar in desserts bakery products. The US Canada are large markets for organic coconut sugar, which, in turn, impacts the regional market growth positively. Also, factors such as the rising preference and demand for organic food, high disposable income, and growing health awareness among the population in the region act as significant tailwinds for the growth of the regional market.
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