Coconut Syrup Market: Introduction
A recent study published by Transparency Market Research on the coconut
syrup market includes global industry analysis and opportunity assessment for 2019-2029. The
global coconut syrup market was forecast
to be valued at ~US$ 161 Mn in 2019. The market is
projected to rise at a CAGR of ~8%, to reach ~US$ 354 Mn by 2029.
Rising Concerns Pertaining to Health and Wellness
among Consumers an Important Catalyst for Growth
Due to the excessive consumption of unhealthy food products, the
incidence of health issues such as obesity, diabetes, cholesterol, and blood
pressure are increasing across the globe. According to the WHO, in 2016 diabetes
led to nearly 1.6 million deaths. From youngsters to older
individuals, all age groups have become highly conscious of their wellness and
are concentrating on exercising regularly and following a proper diet plan. To
avoid health issues, consumers are avoiding intake of sugar in their daily diet
due to which, the sale of non-sugar sweetener is increasing. Coconut syrup has
low glycemic index than glucose, and can be used as an alternative sweetener
for obese, diabetic and people with dental carries. Non-sugar sweeteners are
becoming popular among the diabetic and obese population, which drives the
coconut syrup market. Coconut syrup contains high amount of nutrients as
compared to honey, maple, and agave due to which the demand for coconut syrup
is increasing rapidly.
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High Adoption of Organic Products
Organic food products are made from organically grown ingredients, and
are processed naturally without the addition of any chemicals. Such products
are considered essential for healthy food consumption. Consumers across Europe,
Oceania, and North America are exhibiting high demand sugar-free products. The
trend of consumers buying organic products has been increasing over time. The
North America market sales of certified organic products hit US$ 6.2 Bn in 2015,
which was up to 14% as compared to 2014. The
consumption of organic food products is anticipated to be a major contributor
to the revenue growth of the coconut syrup market.
The production of organic coconut syrup is yet to pick up as
manufacturing the product and obtaining required certifications are time
consuming and expensive processes. Thus, there is a demand-supply gap, which is
the case with all organic products. However, the supply is likely to increase
in the foreseeable future.
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