Coconut
Syrup Market: Introduction
Coconut
syrup is made from sap of coconut palm and sap is collected by making
a cut on the flower of the tree and collected into the container.
After collection, filtration of sap is done followed by evaporation
until syrup formation. Coconut syrup is rich in amino acids and
vitamins including B1, B2, B3 and C along with polyphenol, short
chain fatty acids, and antioxidants. It is also rich in zinc, iron,
magnesium and potassium. Coconut syrup is a low calorie natural
sweetener and an alternative to sugar, maple syrup, high fructose
corn syrup and agave syrup. Coconut syrup has very low fructose
content and low glycemic index when compared to other sweeteners such
as maple syrup, sugar based syrup, and others. It also has a high
level of nutrition as compared to other sweeteners. Coconut syrup is
popularly used in bakery products and beverages.
Coconut
Syrup Market Segmentation
Coconut
syrup market
can be classified on the basis of type, distribution channel,
applications, end users, and region.
On
the basis of type, coconut syrup market is segmented into
- Conventional
- Organic
On
the basis of distribution channel, coconut syrup market is segmented
into
- Supermarkets/hypermarkets
- Specialty stores
- Online sales,
- Retail stores
- Departmental stores.
On
the basis of application, coconut syrup market is segmented into
- Bakery Products
- Sauces and salad
- Confectionery
- Beverages
- Prepared foods
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On
the basis of end user, coconut syrup market can be segmented into
- Industrial
- Household
Coconut
Syrup Market: Regional Outlook
Asia
Pacific is the largest manufacturer of coconut syrup in which the
Philippines is one of the major manufacturer followed by Indonesia
owing to favorable geographical condition for the farming of coconut
tree. While major importer for coconut syrup are North America
followed by Europe as there is an increased awareness about health.
Japan, Middle East and Africa hold huge potential and show
substantial growth in terms of increasing consumer spending on
nutritional products such as supplements, and bakery &
confectionery in these regions.
Coconut
Syrup Market: Dynamics
An
increase in health awareness in food sector has driven consumers in
choosing low calorie and high nutritional value products. According
to WHO around 420 million people are diagnosed with diabetes in year
2014 while in 1980 around 100 million people were diagnosed with
diabetes. Because of an increase in life style related diseases
people are choosing non-sugar sweetener over sugar. Coconut syrup has
low glycemic index than glucose and can be used as an alternative
sweetener for obese, diabetic and people with dental carries.
Non-sugar sweeteners are gaining popularity among diabetic and obese
demography, both of these demography are the primary driver. Coconut
syrup has a high content of nutrient than maple, agave and honey
which gives an advantage to its competition. Organic coconut syrup is
GMO free and gluten free. There is no preservative added in the
organic coconut syrup and it provide natural antioxidants. In food
sector, organic market is growing substantially for instance in the
U.S. the organic food market is expected to grow approximately more
than 10 percent in near future. People believe organic food to be
healthier than conventional food. Restraints for coconut syrup is a
limited supply of raw material and instability of demand in the
market. There is no comprehensive medical and comparative study with
competition on the health benefits. Another restraints are
adulteration, unregulated processing and expensive & complex
procedure of organic certification of the product.
Coconut
Syrup Market Key Player:
Some
of the major players operating in coconut syrup market includes Wichy
Plantation Company (Pvt) Ltd, Bali Nutra Ltd, Tradin Organic
Agriculture B.V., Holos Integra, Wholesome Sweeteners Inc., Benevelle
Coporation, Nutramarks Inc., Coconut Secret, Coconut Merchant Ltd,
TREELIFE COCO SUGAR, ANDY ALBAO CORPORATION, Singabera and other
regional players.
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