The global coconut sugar market size was around $1.7 billion in the year 2018, and the demand is estimated to increment at a notable positive CAGR of 6% during the forecast period of 2019 to 2025.
— Coconut Sugar Market Outlook
As per the IndustryARC’s market analysis, the global coconut sugar market size was around $1.7 billion in the year 2018, and the demand is estimated to increment at a notable positive CAGR of 6% during the forecast period of 2019 to 2025. The analyst of the report primarily attributes the prosperity of the coconut sugar market to the mounting demand potential across the food and beverages industry. The report is titled “Coconut Sugar Market: Applications (Tea, Juice, Bakery, Food Seasoner, Confectionery), Nutrient (Minerals, Vitamins, Phytonutrients) & Region - Forecast (2018- 2023).” This report covers Coconut Sugar Market Size by applications, Coconut Sugar Market share by top 5 companies and also the market share by start-ups during the forecast period.
The global coconut sugar market is growing due to the increasing adoption of sugar alternatives in a diverse range of applications such as food and beverages, dietary supplements, bakery & confectionery, breakfast cereals, beverages, dairy products, and pharmaceuticals. As per the market forecast, Asia-Pacific is the most lucrative region for the demands of coconut sugar. The APAC region grabbed the massive market share of 85% - 90% in the coconut sugar market in the year 2018.
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The coconut sugar is an organic sweetener obtained from the dried nectar of flowers growing at the top of the coconut palm tree. Coconut sugar is touted as a more nutritious and healthy sugar owing to its lower glycemic index than the conventional sugar. Coco sugar comes from a sugary circulating fluid flowing in the coconut sap and looks like brown granulated sugar. It is different from the palm sugar but the coco sap sugar comes from a specific palm tree. The conventional sugar consists of 99% sucrose; whereas, the coconut sugar is attributed to contain only 70% to 80% of sucrose. Epidemiology studies have submitted that higher consumption of processed sugar is allied with cardiovascular disease.
And according to the Global Health Data Exchange, the deaths caused by cardiovascular diseases reached 2.75 million in the year 2016, which is the leading cause of death with 32.6% of mortality instances annually. These factors advocate the consumption of coconut sugar instead of traditional sugar. As consuming coconut sugar will significantly improve in balancing the blood sugar levels, losing weight, and will have a comparatively less impact on health owing to its lower concentration of glycemic index (GI).
Coconut Sugar Market Driving Forces
According to a National Center for Biotechnology Information (NCBI) study, one-third of average adults today are obese, and the obesity issue in children has climbed 5% to 17% in the last 30 years. The World Health Organization (WHO) says that obesity and overweight are one of the prime risk factors for numerous chronic diseases such as diabetes and other cardiovascular diseases. One of the prominent causes of these diseases is the heavy intake of sugar, this cause is being tackled by the adoption of healthy sugar or coconut sugar. The coconut market size is projected to propel owing to the increased awareness towards the harmful traits of the conventional sugar.
According to the WHO, the total population with diabetes has surpassed 108 million in 1980, to 422 million in 2014 and counting. The main reason for diabetes is the increased sugar content in the blood sugar levels owing to the hyped consumption of processed foods, soft drinks, and increased usage of cane sugar on a daily basis. Incorporating a healthy diet, physical exercises, and reduced intake of cane sugar are some of the ways with which one can prevent diabetes. The introduction of coconut blossom sugar reduces the content of sucrose levels in the body. Doctors around the world recommending healthy sugar will contribute to the expansion of the global coconut sugar market.
Coconut Sugar Market Competitive Analysis
According to the business analytics market research report from IndustryARC, the coconut sugar marketplace is dominated by the following key players: Cook Organic Foods LLP, Activa Enterprises Ventures Inc., American Key Food Products, Andy Albao Enterprises, Celebes Coconut Corporation, Bigtreefarms, Saudi Food Ingredients Factory, Earth Circle Organics, Los RicosCompania Corporation, Ecobuddy, Tree Life, Coco sugar, Tradin Organic, and Franklin Baker.
Andy Albao Enterprises
Andy Albao Corporation is a fast flourishing processor company and a prominent name in the global coconut sugar market. It is considered as one of the leading innovators of advance coconut products cocoa food products. The company has an endless list in terms of its coconut product line owing to its regular capital investment in the research and development department. The firm has dedicated processing facilities and warehouse located in the provinces of Luzon and Mindanao. They are known for the sustainable methods they use for the production of their organically farmed coconuts. 90% of the coconut products produced by them are exported to the Americas and Europe. They have a massive coconut based product line including coconut flour, coconut oil, coconut caramel, coconut nectar syrup, coconut jam, and coconut nectar sugar.
The Zurich based company claims to be the world’s leading manufacturer of high-quality chocolate and cocoa products. The company reported sales of worth $7.1 billion in the FY 2017/18, owing to their 60 production facilities and 11,500 expert operatives. The company developed chocolate called Niu, in their research and development center in St. Hyacinthe, Canada. They developed this chocolate using coconut sugar instead of the conventional cane sugar. The introduction of coconut sugar in chocolates is estimated to optimize the nutritional value of chocolates owing to its reduced glycemic index. The coconut sugar market revenue is forecast to witness a significant market growth because of the chocolate industry.
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The organic coconut sugar is being considered as an alternative to conventional cane sugar. This sugar is derived from the coconut sap liquid. This product is gaining traction due to its nutritional value. The Asia-Pacific region is the lead consumer of coco sugar. With emerging technologies and farming techniques this product is projected to gain huge popularity in the west soon. Coconut sugar is also employed for manufacturing multiple coconut-based products. With such an influx in the demands for organic and healthy sugar, the coconut sugar market is subjected to bolstering market growth in the near future.
A. Americas Coconut Sugar Market
B. Sugar Derived Surfactants Market
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