Global Coconut Syrup Market is valued approximately at USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Coconut syrup is a natural sweetener derived from the sap of coconut palm flowers. It has a thick, golden-brown liquid consistency and tastes nutty and slightly sweet. Coconut syrup is a good source of prebiotic fiber, which can help to improve digestion and gut health. It is also a low-glycemic sweetener, which means that it does not cause a sharp spike in blood sugar levels. Coconut syrup is used in a variety of recipes, including pancakes, waffles, oatmeal, smoothies, and baked products. It can also be used to sweeten coffee, tea, and other beverages. The Coconut Syrup Market is expanding because of factors such as the surging demand for natural and healthy sweeteners, rising health awareness and the growing vegan population.
In addition, the rising popularity of coconut syrup among the obese and diabetic patients is acting as a catalyzing factor for market growth across the globe. According to an article released by IDF Diabetes Atlas Tenth edition 2021, in September 2021, approximately 537 million people between the age group of 20 to 79 years suffer from diabetes. Furthermore, it is anticipated to rise to 643 million and 738 million by 2030 and 2045 respectively. Thus, the prevalence of unhealthy lifestyle patterns among the global population is expected to fuel the growth of the coconut syrup market in the forecast years. Moreover, the growing use of coconut syrup in the food and beverage industry, as well as the rising availability of product on various e-commerce platforms present various lucrative growth opportunities for the market over the forecast years. However, the regulatory challenges and labeling requirements and the volatility in the prices of raw materials are challenging the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Coconut Syrup Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market owing to the rising interest in ethnic and exotic flavors, the increasing popularity of vegan and plant-based diets and the growing recognition and utilization of coconut syrup as a natural sweetening and flavoring agent. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The shift towards sustainable and eco-friendly products, rising disposable income and increasing awareness of the health benefits of coconut products are significantly propelling the market demand across the region.
Major market players included in this report are:
Wichy Plantation Company (Pvt) Ltd
Bali Nutra Ltd
Tradin Organic Agriculture B.V.
Wholesome Sweeteners Inc.
Coconut Merchant Ltd
Treelife Coco Sugar
Andy Alabo Corporation
Recent Developments in the Market:
Ø In February 2022, BALI NUTRA, a producer and food exporter of organic coconut nectar, cold-pressed coconut oil, roasted coconut butter, and other naturally coconut-based foods announced the introduction of the organic vegan coconut syrup.
Global Coconut Syrup Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Nature, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Middle East & Africa
Rest of Middle East & Africa