The global coconut sugar market size is expected to reach USD 1.89 billion by 2030, according to a new study by Polaris Market Research.
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The market is driven by factors such as rising rates of diabetes and obesity and increased use of these sweeteners in a variety of skincare products like scrubs, body creams and gels. to shave. Due to its exfoliating and toxin-free qualities, which have helped its market grow, coconut sugar is also used to make cosmetics and personal care items, including body scrubs, lotions, creams, and others. .
Furthermore, it is expected that the growing public awareness of these benefits of sweeteners and the popularity of herbal skin and hair care products will pave the way for the expansion of the industry. Additionally, according to the IDF (International Diabetes Federation), in 2019, the total adult population in the United States with diabetes was 31.0 million, while in Canada it was 2.8 million. The prevalence of diabetes in the United States was 10.3% in 2010, and rose to 10.8% in 2019.
This prevalence is expected to increase further to reach 12.1% in 2030 and 12.8% in 2045. As the prevalence of diabetes increases across the world, the demand from the industry is expected to increase significantly, thereby creating opportunities for the increase in the market during the forecast period.
Additionally, obesity affects approximately 19% of children and 42% of adults, increasing the risk of chronic diseases such as diabetes, heart disease and cancer. The estimated cost of obesity to the US healthcare system is $147 billion per year. People’s growing awareness of the natural and herbal benefits of these health sweeteners is driving the growth of the industry. Thus, the demand has increased rapidly across the world.
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Highlights of the Coconut Sugar Market Report
• The organic sugar segment is expected to grow at a significant CAGR rate over the forecast period owing to its various health benefits.
• The food and beverage industry has accounted for a significant portion of the global revenue share which is accelerated by its use in confectionery items like cakes, chocolates and brownies as well as pastry items like cookies. These can be used to sweeten tea, juice or any other beverage. Also used as a flavoring for food.
• North America is expected to grow at a significant CAGR over the projected period owing to its awareness of health benefits among the population. The growing consumption of organic foods and clean labels in the region, especially in the United States, has improved the sales performance of coconut sugar.
• The global sugar market is highly competitive owing to the existence of major market players with global presence including Big Tree Farms, Celebes Coconut Corporation, Ecobuddy Group, Madhava Ltd., Saudi Food Ingredients Factory, SunOpta Inc., The Coconut Company Ltd. and Tardo Filipinas Incorporated.
Polaris Market Research has segmented the Coconut Sugar Market report on the basis of Form, Type, Application, Nature, and Region:
Coconut Sugar, Type Outlook (Revenue – USD Billion, 2018 – 2030)
• Blood sugar
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Coconut Sugar, Outlook Form (Revenue – USD Billion, 2018 – 2030)
• In powder
Nature’s Outlook (Revenue – USD Billion, 2018 – 2030)
Coconut Sugar, Application Outlook (Revenue – USD Billion, 2018 – 2030)
• Food and drinks
• Cosmetics and personal care products
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