Global Organic Coconut Sugar Market, Growth, Trends and Forecast 2024
Organic Coconut Sugar Market Overview
The global organic coconut sugar market is already mushrooming and is expected to reach a significant valuation over the forecast period of 2017-2023, proclaims Market Research Future (MRFR) in a minutely analyzed research report. The trend of growing global demand for organic coconut sugar has been the primary driver behind the sustained growth of the global organic coconut sugar market. Growing levels of obesity and diabetes have increased the demand for organic coconut sugar since coconut sugar has a low glycemic index-around half of regular sugar which is the key to its popularity. Moreover, coconut sugar has a higher nutrient content and distinctive taste. Recent widespread recognition of the health benefits of organic coconut sugar has created the key for further progress of the market. Raising level of consumer awareness regarding the health benefits of organic coconut sugar, the upsurge in demand for organic food products, and demand for healthier substitutes to regular processed sugar has propelled the global organic coconut sugar market growth.
The growth of the market is likely to be restrained by the unavailability of farming land and lack of technical know-how. The antiquated value chain is also a constraint as it is holding back the adoption of the latest technology and practices. Availability of alternatives to organic coconut sugar such as stevia extract, maple syrup, raw honey, date sugar, etc. can also limit market growth. Production of organic coconut sugar is a time-intensive process, and thus the supply has not been able to keep pace with the soaring demand. Furthermore, organic coconut sugar being high in price discourages adoption which is also a significant hindrance to the market growth.
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Organic Coconut Sugar Market Segmentation
The global organic sugar market share has been segmented based on nutrients, form, application, and distribution channel. By nutrients, the market has been segmented into minerals, vitamins, phytonutrients, and others. By form, the market has been segmented into powder, granular, solid, liquid, and others. By application, the market has been segmented into baking, confectionery, tea, juice, food seasoner, and others. By distribution channel, the market has been segmented into supermarkets & hypermarkets, specialty stores, food processing industries, and others, and non-store based.
Organic Coconut Sugar Market Regional Analysis
The global organic coconut sugar market analysis spans across the regions of North America, Europe, Asia Pacific, and the Rest of the World (RoW). Asia Pacific is the largest market for organic coconut sugar followed by Europe. The abundance of raw material and technical know-how is the primary driver of the Asia Pacific market. The Europe market is driven by increasing consumer awareness and growing food & beverage industry. In North America, changing consumer preference and growing demand for organic products support the market growth.
Organic Coconut Sugar Market Competitive Landscape
The notable players operating in the global organic coconut sugar market include Coco Sugar Indonesia (Indonesia), The Coconut Company Ltd (U.K.), SunOpta (Canada), MADHAVA NATURAL SWEETENERS (U.S.), bigtreefarms (U.S.), Coco Natura (Philippines), and Franklin Baker (U.S.).