Market
Introduction:
Organic
Coconut Sugar is a delicious, pure, unrefined alternative to
processed sugar and artificial sweeteners. It has been used as a
traditional sweetener since centuries, in coconut trees flourishing
regions, such as Southeast Asia. Coconut Sugar, also referred
sometimes as palm sugar, is produced from the flower bud of the
coconut tree. Coconut sugar is mostly comprised of sucrose, which
gives it a sweet, caramel-like flavor. It is devoid of added
chemicals, unbleached and contains no preservatives. Organic coconut
sugar has naturally occurring nutrients including magnesium,
potassium, zinc, iron, B vitamins and amino acids. Coconut sugar
serves a delicious addition to tea or coffee, smoothies, fruit
juices, cakes, pancakes, curry dishes, dessert toppings, puddings,
any type of fruit pies and more.
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Market
Segmentation:
Organic
Coconut Sugar can be segmented on the basis of form, end use
application, packaging, distribution channel, and region.
On
the basis of form, Organic Coconut Sugar Market can be segmented into
fine powdered, powdered, crystal/ granular, block form and liquid
syrup.
On
the basis of end use application, Organic Coconut Sugar Market can be
segmented into the household, foodservice, food and beverage
manufacturers, personal care and cosmetics and others. In personal
care, it is used in coconut scrubs and face and body creams as a
natural ingredient and associated benefits to skin texture.
On
the basis of the type of packaging, Organic Coconut Sugar Market can
be segmented into pouches/ sachets, jars/ bottles and corrugated
boxes.
On
the basis of the distribution channel, Organic
Coconut Sugar Market can be segmented into direct and retail
sales. Direct sales refer to direct selling of organic coconut sugar
as an ingredient to other industries. Retail sales are further
segmented into convenience stores, grocery retailers, online
retailers, and other retailing formats.
Drivers,
Restraints, and Trends:
Growing
demand for the product to replace cane sugar is likely to drive the
market in next few years. The Organic coconut sugar has a low
glycemic index as compared to cane sugar and honey. As a result, it
reduces the rising sugar level rise in the bloodstream. Rising
popularity of Asian Cuisine, increasing demand for dairy substitutes
and associated health benefits associated with the Organic Coconut
Sugar is expected to drive the market further in the projected
period. Also, the increasing lactose intolerant among people
worldwide is driving the market with its wide application in food and
beverage industry. Increasing demand for the organic coconut sugar
for manufacturing skin care products such as body scrubs, shaving
gels, face and body creams is also contributing towards the growth of
the market in the projected period.
Fluctuating
prices in raw material and also the production process is more
labor-intensive owing to lack of mechanization thus it is a
time-consuming process which is further producer concentrated and
poses some hindrances in the projected period for the market to
flourish.
Increasing
focus on healthy lifestyle, the inclination of consumers towards
organically produced products and rising demand for natural cosmetics
and personal care products is the rising trend among the consumers
and is further expected to grow the market in the projected period.
Regional
Outlook:
Asia
pacific is the largest producer of organic coconut sugar owing to the
abundant raw material. The rapid growth in food and beverage and
cosmetics industry in Korea, India, and China is expected to have a
positive impact in the future period. Increasing diabetic's patients
and obesity are further posing consumers to look for alternatives
like organic coconut sugar that lower the risk. Further, in U.S.
Market, the organic coconut sugar is going to grow rapidly due to the
rising health-conscious population. Also, low glycemic index and
environmental sustainability are further going to grow the market in
the projected period.
European
consumers are more concerned about the nutritional values and also
inclined towards the organic products. Thus the market is expected to
grow in the forecasted period with the introduction of organic
coconut sugar in the recipes and dishes in the cuisines. Growing
diseases among the aged population are expected to increase the
demand for alternative sweetener such as coconut sugar over the
forecasted period.
Key
Players:
Some
of the prominent players of Organic Coconut Sugar are Coco Sugar
Indonesia, IMC Organic Food Co., Connecticut Coconut Company (CCC),
Celebes Coconut Corporation, CV. India sourcing, Singabera, PT Mega
Inovasi Organik, Holos Integra, Tree Life and various other regional
manufacturers.
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