health benefits of coconut sugar is driving the Coconut Sugar Market
Technavio analyzes that the Coconut Sugar Market is expected to grow at a CAGR of 5.84% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 206 million.There are various factors that contribute to the growth of the market.ai_driver_list_1
In the burgeoning market for natural sweeteners, coconut sugar emerges as a compelling alternative to refined sugar. Derived from the sap of coconut palm trees, this organic sweetener is gaining traction due to its health benefits and sustainable production methods. Consumers, particularly those with dietary preferences or diabetes, are increasingly seeking high-quality ingredients for their food preparations and confectionery items. Moreover, the demand for organic products, driven by environmental concerns and fair-trade practices, is fueling the growth of the organic coconut sugar segment. This trend is expected to persist, with continuous innovation and product launches in the cosmetics, dairy alternatives, and creams industries further bolstering market expansion.
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Coconut Sugar Market Segmentation
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Coconut palm sugar, also known as natural coconut sugar, is a healthy alternative to white sugar. Rich in essential minerals like Potassium, Magnesium, and Zinc, it has a low glycemic index. Unlike white sugar, it contains amino acids and is suitable for beverages like tea and coffee. With a caramel-like flavor, it is used in baked goods, candy, and other foods. Though it has fewer calories than cane sugar, it is still a sweetener. However, its use can help reduce the intake of lifestyle-related diseases and synthetic sweeteners, making it a better choice for a healthier lifestyle. Compared to white sugar, honey, and cane sugar, coconut sugar offers various health benefits.
The global packaged foods and meats market encompasses vendors engaged in food processing to enhance preservation and eliminate microorganisms, generating significant revenue. According to Technavio, this market's size is determined by the consolidated revenue of participating entities. Equipment manufacturers are excluded, as are producers of alcoholic and non-alcoholic beverages, including mineral waters. Key growth drivers include the health benefits of minimally processed foods, such as vegetables, which are rich in essential nutrients like potassium, dietary fiber, folate (folic acid), vitamin A, and vitamin C. Additionally, the aging population's increasing demand for healthier food options, the rising popularity of bio-based cosmetics utilizing amino acids derived from coconut sugar, and the expansion of the bakery sector, including baked goods and biscuits, will fuel market growth. However, the market may face challenges from rising raw material prices and increasing health concerns regarding added sugars, including coconut sugar, in processed foods.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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