According to a new report published by Allied Market Research, titled, “Coconut Sugar Market,” The Coconut Sugar Market Size was valued at $243.40 million in 2021, and is estimated to reach $408.7 million by 2031, growing at a CAGR of 5.5% from 2022 to 2031.
One of the leading factors which influence the Coconut Sugar Market Growth include rise in coconut sugar and other coconut byproducts demand in the market due to its efficiency in combating multiple diseases. Coconut sugar has been consumed in many countries and is efficient in obliging in intestinal disorders, cancer, anemia, constipation, bone health, allergies, heart health, bacterial infections, night blindness, intoxication, sexual disorders, and other ailments.
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Key findings of the study
- By form, conventional coconut sugar is dominant around the globe as the production and availability is higher for this segment. However, organic segment is likely to be the fastest growing segment during the Coconut Sugar Market Forecast period.
- By end user, the commercial segment dominated the market in 2021, with a CAGR of 5.2%.
- Based on application, personal care segment dominated the global market in the year 2021 and is estimated to reach $256.9 million by 2031, with a CAGR of 4.8%. However, cosmetic segment is likely to be the fastest growing segment during the forecast period.
- By distribution channel, the business-to-business segment held the maximum Coconut Sugar Market Share in 2021, with a CAGR of 5.2%. However, E-commerce is expected to be the fastest growing segment during the forecast period.
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The coconut sugar market is segmented into form, end user, application, sales channel, and region. On the basis of form, the Coconut Sugar industry is categorized into organic coconut sugar and conventional coconut sugar. On the basis of end-user, the market is bifurcated into commercial and residential. On the basis of application, the market is categorized into food & beverage, cosmetic, and personal care products.
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Major Key Players:
The players operating in the global coconut sugar market have adopted various developmental strategies including but not limited to product launch, geographical expansion and acquisitions to increase their market share, gain profitability, and remain competitive in the market. The key playersincluded in the Coconut Sugar Market Analysis are The Coconut Company (UK) Ltd, The Divine Foods, Franklin Baker, Coco Sugar Indonesia, Big Tree Farm, NOW Foods, Nutiva Inc, Madhava Ltd., AGRIM PTE LTD, Tradin Organic Agriculture B.V., Koperasi Nirasatria, Singabera, Treelife, Groovy Food Company Ltd, Connecticut Coconut Company, Betterbody Foods, and Wholesome Sweetener Inc.
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