Coconut Sugar Market Size, Share, Sales, Analysis, Forecast, Industry Competition & Player Profiles 2023 - 2032

According to European Ministry of Foreign Affairs, the demand for coconut sugar market remains robust in the European food market. The ministry also reports that countries like Indonesia, Philippines, and Thailand account for 80% of sugar production globally.

Furthermore, growing research also shows that the coconut sugar also offers high level of minerals, and vitamins including iron, zinc, and calcium. The growing demand in key markets like European region, low-cost production in emerging countries, and high health benefits of coconut sugar remain promising factors of growth for the coconut sugar market.

High Demand for Natural Products Remains a Key Opportunity for Growth

According to the European Foreign Ministry publications, the food industry in Europe was valued at nearly USD 1.6 trillion in 2017. Moreover, the ministry also forecasts that European households spend nearly 14% on average on food and beverage products. Moreover, a 2016 survey of European consumers found that 60% adults monitor how much sugar they consume. This may not be surprising as according to World Health Organization, there are 60 million people with diabetes in the European region.

Moreover, the WHO also states, thanks to obesity, unhealthy diet, and physical activity, diabetes remains a growing danger to the European population, even affecting younger populations today. On the other hand, the European foreign ministry reports that organic food and drink market stood at US$ 25 billion in 2012, and increased to nearly US$ 40 billion in 2017. The growing demand for organic products, the increase awareness about lifestyle diseases like diabetes, and growing support for organic imports will likely drive growth for the coconut sugar market.

Growing Application for Coconut Sugar in Cosmetic Products Remains A Key Opportunity

Coconut sugar has a conventional application in herbal medicine in traditional skincare. However, the application is expanding to new markets with growing demand for natural products in cosmetics market. The coconut sugar contains amino acids, which are ideal for anti-aging properties.

Due to maturing demographics in Europe, and North America, this segment of skin care products is witnessing a major expansion in the cosmetics industry. According to the UN estimates, the global population of elderly stood at 962 million in 2017, and it is expected to double in the near future. Moreover, growing urbanization, increasing participation of women in the workforce, and rising disposable income remain key drivers for growth for the coconut sugar market.

Growing Demand for Sweeteners in Conventional Confectionaries Remain High

Coconut sugar remains in increasing demand for new products like vegan chocolates, and premium brands like Lindt, Hershey, and Toblerone continue to embed coconut sugar in their products to benefit from rising awareness about health. This is also important in Europe, and North America, as confectionary, and bakery products remain high in demand, thanks to their conventional appeal. Moreover, growing demand for vegan jam, chocolates, and sugar will drive major growth for the coconut sugar market.

The demand from major manufacturers has led to growing initiatives like Danish government’s decision to allot 20 of Danish land for organic farming. Moreover, rising demand about quality, awareness, and demand for high awareness will be a major impetus for growth for players in the coconut sugar market.

Some key players in the coconut sugar market are Activa Enterprises Ventures Inc., Cook Organic Foods LLP, and American Key Food Products.

The Coconut Sugar Market is Segmented as Below:

By Form

• Powder
• Granular
• Others

By Distribution Channel

• Store-Based
• Supermarkets & Hypermarkets
• Convenience Stores
• Others
• Non-Store-Based

 By Region

• North America
  • United States
  • Canada
  • Rest of North America
• Europe
  • Germany
  • United Kingdom
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  
  • Japan
  • India
  • China
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Middle East & Africa
  •  UAE
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• South America
  • Brazil
  • Rest of South America