The global coconut syrup market size is anticipated to experience considerable growth in the forthcoming years owing to rising demand for natural flavoring ingredients. This information is published by Fortune Business Insights in its report, titled “Coconut Syrup Market, 2021-2028“. The syrup is extracted from the nectar of coconut palm flowers and has various nutrients such as zinc, calcium, potassium, iron, and other. The rising demand for organic flavoring agents is anticipated to drive the market.
Increased Demand for Organic Flavoring Agent to Aid Growth Amid COVID-19
The pandemic resulted in an increased demand for natural products such as flavoring agents. Moreover, the lockdown period also experienced a high demand for organic products. The shift towards healthy alternatives for sweeteners and flavoring agent among consumers resulted in an increased demand for the product. However, due to lockdown, the industry experience certain issues in production line regarding logistics. However, the ease on lockdown is expected to improve product demand in the foreseeable future.
Get Sample PDF:
On the basis of nature, the market is bifurcated into organic and conventional. By application, the market for coconut syrup is divided into bakery, confectionery, beverages, and dairy. Based on geography, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
What Does the Report Contain?
The report has details on all the latest technology available in the market. The technological advances made in the industry has been highlighted and the potential opportunities associated with that. The report establishes the challenges of the market and advices various solution to them. It also mentions the growth-stimulating factors, the restraints, consumption pattern, distribution channels, and all other vital information associated with the market.
Increasing Demand for Sugar Alternatives to Favor Market Growth
The rising demand from consumers for organic and natural alternatives for various kinds of sugar, sweeteners, flavoring agents, and more is augmenting coconut syrup market growth. Moreover, expanding the bakery and confectionery industry in the European region is expected to garner a substantial demand for the product in the foreseeable future.
The nutritional value associated with the product is substantial. It provides a wide range of nutrients and can be consumed in numerous beverages as an alternative to sugar or honey. This is all in addition to its low glycemic index. This is also a major driver for the market.
Extensive Prevalence of Diabetes to Surge Market Growth in North America
North America is anticipated to hold the largest coconut syrup market share in the foreseeable future. This is due to the wide range of Ages considered in the region and associated health risks with it. For instance, 2018, the American Diabetes Association gives an estimate of nearly 10.5% of its population affected by diabetes. This kind of statistics gives a high probability of consumers shifting towards alternatives with low glycemic index.
Asia Pacific is expected to experience significant market growth in the forthcoming years. This is due to the availability of raw materials in the region, especially in countries such as Indonesia, India, Sri Lanka, and others.
Market Leaders Invest in Product Variety to Expand Their Business Horizons
The competitive landscape of the coconut syrup industry is invested in expanding their variety of products and technological advancement to attract the consumers of organic food. In the US alone, Organic sales had crossed the $50 Billion in 2019, according to Organic Trade Association. Strategic collaborations, purchases, product launches, acquisitions, partnerships, and other tactics are being used to expand business territory. The key players are looking out for potential opportunities to increase their product demand in the market and resort to strategic advertisements. This is a well-established market in certain regions of the globe, but there is still potential in the other regions for emerging players.
List of Key Players Profiled in the Market:
- Bali Nutra Ltd.
- Tradin Organic Agriculture B.V.
- Wholesome Sweeteners Inc.
- Benevelle Corporation
- (PT) Wildly Organic
- Coconut Secret
- Coconut Merchant Ltd.
- Treelife, Rockwell’s Whole Foods
- Wuhu Deli Foods Co., Ltd.
Speak to Analyst
Read More Related News:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –
Mahalunge Road, Baner, Pune-411045,
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]
LinkedIn Facebook Twitter