Organic Palm Sugar Market Synopsis:
As per the analysis conducted by Market Research Future (MRFR), The Organic Palm Sugar Market is estimated to be USD 1230 million in 2028 and is projected to register a CAGR of 14.6% during the forecast period.
The growing incidences of obesity, diabetes, and coronary heart disorders have led to a rise in demand for organic sugar that can augment the organic palm sugar revenue during the forecast period. The prevalent ailments have resulted in a need for nutritional and harmless sugar, which is another salient factor responsible for the expansion of the organic palm sugar industry. In addition, organic palm sugar is gaining prominence as a crucial ingredient in bakery products and beverages that can further develop the global Organic Palm Sugar Market during the assessment tenure.
On the flip side, lack of awareness regarding benefits of the product is expected to hamper the market growth during the forecast period. However, on-going product development is expected to increase its demand and counter the impeding cause that can grow the industry.
Market Segmentation:
The segmental analysis of the global Organic Palm Sugar Market is done by distribution channel, form, and packaging type.
The distribution-channel based segments of the global market for organic palm sugar are store-based and non-store-based. The store-based segment is further classified as convenience store, hypermarkets supermarkets, and others.
The form-based segments of the global market for organic palm sugar are granule, block, and liquid.
The packaging type-based segments of the global market for organic palm sugar are pouches and bottles jars.
Regional Analysis:
As per the Organic Palm Sugar Market analysis conducted by MRFR, the market is segmented into North America, Asia-Pacific, Europe, and the Rest of the World (RoW).
APAC is anticipated to lead the global market for palm sugar during the review period owing to the growing awareness about benefits of organic palm sugar. The increasing adoption of organic palm sugar due to the rising incidence of obesity and diabetes is likely to enhance its demand that can augment the industry in the coming period. Furthermore, the abundance of raw material is anticipated to play a salient role in strengthening the regional trade during the review timeframe.
Europe is likely to acquire a second position during the forecast period owing to the growing demand for dietary products and nutritional food and beverages. The shift in consumers’ preference towards natural products is likely to be another salient cause that can drive the regional market during the forecast period. Furthermore, the expansion of the food and beverages industry is predicted to be a significant factor that can augment the regional market during the review timeframe.
North America is anticipated to acquire significant market value while expanding at a notable CAGR during the forecast period. The growing cases of obesity and diabetes among the growing populace is likely to be a salient factor that can grow the regional market during the assessment tenure. The US, Canada, and Mexico are expected to make a notable contribution in augmenting the regional market.
MEA is likely to acquire the least market share during the forecast period owing to the lack of awareness.
Key Players:
The global Key Organic Palm Sugar Market Players are The Real Co Inc (US), Rabiah - Coconut Product (India), The Groovy Food Company Ltd. (UK), Royal Pepper Company (US), Phalada Agro Research Foundations Private Limited (India), Midsona Deutschland GmbH (Germany), Palm Nectar Organics (Indonesia), Windmill Organics Limited-Biona (UK), Coco Sugar Indonesia (Indonesia), and Organic Wholefoods Limited (UK).
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