LONDON–(COMMERCIAL THREAD) – The global coconut sugar market is expected to grow above 8% CAGR during the period 2019-2023, according to the latest market research report by Technavio.
The launch of new products is a key factor in the growth of the market. The continued introduction of new coconut sugar products will propel the growth of the global coconut sugar market during the forecast period. Successful new product launches will increase the revenue stream of suppliers, which will increase their market share. In addition, new product launches will keep consumers interested in the market. For example, in November 2017, KTC Edibles launched its new 100% organic coconut sugar. The company claims it is a perfect alternative to cane sugar for hot drinks, baking, salad dressings and other products. Additionally, in March 2017 Big Tree Farms launched organic and fair trade coconut sugar. The company says the new product can replace refined white sugar in a variety of applications. So, with several product launches like these, the market is expected to have a positive outlook during the forecast period.
This market research report on Global coconut sugar market 2019-2023 Also provides an analysis of the most important trends that are expected to impact the market outlook during the forecast period. Technavio ranks an emerging trend as a major factor that has the potential to have a significant impact on the market and contribute to its growth or decline.
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In this report, Technavio highlights the growing health awareness among consumers as one of the major emerging trends in the global coconut sugar market:
Global Coconut Sugar Market: Raising Consumer Health Awareness
One of the positive trends which may influence the growth of the global coconut sugar market during the forecast period is the growing awareness of consumers. Growing cases of obesity and related diseases among consumers are making them more health conscious. As a result, they prefer foods and drinks produced from natural sources, which are low in fat and calories. Vendors are offering new products that are lower in fat and calories to meet changing consumer demands. The health and wellness trend is gaining popularity, especially among young consumers between the ages of 18 and 32. The number of consumers engaging in fitness activities is increasing globally. They are willing to pay a higher price for products with various functional benefits such as fat reduction. Hence, with numerous health benefits associated with coconut sugar, the market is expected to grow during the forecast period.
“Rising consumer awareness of the health benefits of coconut sugar will drive the market growth during the forecast period. Coconut sugar is rich in essential vitamins and minerals such as vitamins C, B1 82, B3 and B6, as well as calcium, iron, magnesium, potassium and zinc. Coconut sugar contains inulin. Inulin can stimulate the growth of intestinal bifidobacteria, which are commonly found in probiotics, which can boost the immune system overall. Therefore, with such associated health benefits, the global coconut sugar market will prosper during the forecast period ”, explains a senior analyst at Technavio for food research.
Global Coconut Sugar Market: Segmentation Analysis
This market research report segments the global coconut sugar market by product (organic coconut sugar and inorganic coconut sugar) and by geographic regions (APAC, EMEA, and the Americas).
The APAC region dominated the market in 2018 with a market share of over 44%, followed by EMEA and the Americas respectively. However, during the forecast period, the Americas are expected to register the highest incremental growth, followed by the EMEA region.
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Some of the main topics covered in the report include:
Market segmentation analysis
Market size and forecast
Five forces analysis
Main leading countries
Positioning of sellers in the market
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