Coconut Sugar Market Size and Share Value Expected to Grow to USD 1.89 Billion By 2030: Polaris Market Research

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 being driven by factors such as rising diabetes and obesity rates and increased usage of such sweeteners in a variety of skin-care products like scrubs, body creams, and shaving gels. Due to its exfoliation and toxin-free qualities, which have aided in the growth of its market, coconut sugar is also used to make cosmetics and personal care items including body scrubs, lotions, creams, and others.

Additionally, it is anticipated that rising public knowledge of such sweetener benefits and the popularity of herbal skin and hair care products will pave the way for industry expansion. Further, according to the IDF (International Diabetes Federation), in 2019, the total adult population in the US with diabetes was 31.0 million, while in Canada was 2.8 million. The prevalence of diabetes in the US was 10.3% in 2010, which increased to 10.8% in 2019.

This prevalence is further projected to increase to 12.1% in 2030 and 12.8% in 2045. As the prevalence of diabetes increases across the globe, the demand for the industry is expected to rise significantly, thereby creating opportunities for the augmentation of the market over the forecast period.

Additionally, obesity affects around 19% of children and 42% of adults, increasing the risk for chronic diseases including diabetes, heart disease, and cancer. The estimated cost of obesity to the US healthcare system is $147 billion each year. The rising awareness among people for the herbal and natural benefits of these sweeteners for health is boosting industry growth. Thus, the demand has been rising rapidly across the globe.

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Coconut Sugar Market Report Highlights
• Organic Sugar segment is anticipated to grow at a significant CAGR rate over the forecast period due to its various health benefits.
• The food and beverage industry accounted for a significant share of the global revenue share which is accelerated by Its being used in confectionery items like cakes, chocolates, and brownies as well as pastry items like biscuits. These can be used to sweeten tea, juice, or any other beverage. Additionally used as a flavoring for food.
• North America is expected to grow at a significant CAGR over the projected period owing to its health benefits awareness among the people. The region's rising consumption of organic and clean-label foods, particularly in the US, has improved coconut sugar's sales performance.
• The global sugar market is highly competitive owing to the existence of large market players with a 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 Incorporate.

Polaris Market Research has segmented the coconut sugar market report based on form, type, application, nature, and region:

Coconut Sugar, Type Outlook (Revenue - USD Billion, 2018 - 2030)
• Sucrose
• Glucose
• Fructose

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Coconut Sugar, Form Outlook (Revenue - USD Billion, 2018 - 2030)
• Granular
• Powdered
• Liquid

Coconut Sugar,
Nature Outlook (Revenue - USD Billion, 2018 - 2030)
• Organic
• Conventional

Coconut Sugar, Application Outlook (Revenue - USD Billion, 2018 - 2030)
• Food & Beverage
o Bakery
o Confectionery
o Beverages
o Seasoning
• Cosmetics and Personal Care Products

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