Global Palm Sugar Market 2020 Size, Global Trends, Comprehensive Research Study, Development Status, Opportunities, Future Plans, Competitive Landscape and Growth by Forecast 2029
“Global Palm Sugar Market Trends, Applications, Opportunities, Products, End Users, Global Market Size and Growth Forecast till 2029” is a recently tracked and generated report by the research team at MarketResearch.biz. A wide range of factors have been researched and considered in detail for study and analysis of the findings for the global market. Major focus is on leveraging expert opinion and inputs, as well as on extensive primary and secondary research efforts. All vital data and information are presented, including key and trends, growth driving factors, restraints, potential revenue opportunities in untapped regions and countries, and threats. Various geopolitical and political factors are considered to enable presentation of all findings. The company profiles of key players comprise detailed information, recent developments, strategies, and acquisitions and mergers, etc. In order to enable in-depth analysis of the global palm sugar market, the report is bifurcated on the basis of nature, form, application, end-use, distribution channel, and region/ country. Regions are further sub-segmented at country level, and revenues for each segment presented according to each region and country.
Palm Sugar: Overview
Palm sugar is a natural sweetener made from any variety of palm trees, including palmyra palm, date palm, nipa palm, coconut palm, and sugar palm. Palm sugar is rich in vitamins including B1, B2, B3, and B6, minerals such as potassium, zinc, and iron, and other nutrients as well as it has low glycemic content. Palm sugar has higher nutritional value and more unique functionalities as compared to white and brown sugars. In addition, it has the quality of taste enhancer, and hence demand for palm sugar is relatively high for a wide range of applications in the food and beverage sector globally.
Global Palm Sugar Market: Dynamics
Drivers: Rising demand for confectionery products, low caloric content solutions, and increasing demand for natural and dietary food products are among some of the major factors estimated to drive the global palm sugar market growth. In addition, increasing disposable income and demand for organic food products as well as rising awareness regarding health and wellness among consumers are among other factors estimated to boost the global palm sugar market revenue growth to a significant extent.
Restraints: A major factor that could restrain growth of the target market is higher product cost as compared to white sugar. In addition, availability of other alternative sweeteners such as muscovado sugar, stevia, raw honey, coconut sugar, maple syrup, dark brown sugar, and dates is another factor that could hamper the global palm sugar market growth to a certain extent.
Trends: The macro consumer trend observed in the market currently is high demand and adoption of natural and organic food products including palm sugar and rising awareness about health benefits of the products. This is projected to result in higher adoption of palm sugar for household consumption, in developed as well as developing countries.
Global Palm Sugar Market: Segment Analysis
Insights, by Nature Segment:
The organic segment is projected to register the highest revenue growth rate over the next 10 years in the market, due to increasing preference for organic foods and related products.
Insights, by Form Segment:
Among the form segments, the powder segment is estimated to dominate in the target market with the highest revenue share and is projected to register a considerably high CAGR in terms of value in the global market, followed by the liquid segment.
Insights, by Application Segment:
The food and beverage segment is estimated to record the largest share in terms of value in the global palm sugar market, due to higher demand among manufacturers for producing products such as confectionery, bakery products, frozen desserts, non-sweet food products; canning & freezing smoothies, syrups, and energy drinks.
Global Palm Sugar Market: Region Analysis
The North America market is estimated to account for the largest revenue share in the market. Factors driving North America market growth include:
- Higher demand for healthy and organic-ingredients based sweeteners
- Increasing consumption of frozen desserts, smoothies, etc.
Europe market is estimated to follow the North America market and record second-highest revenue share. Factors driving Europe market growth include:
- Inclining consumption of confectionery and bakery products, coupled with high demand for natural sugar as an ingredient
- Presence of prominent players in the countries in the region
The Asia Pacific market is projected to witness a significantly higher growth rate as compared to that of other regional markets over the 10-year forecast period. Factors driving Asia Pacific market growth include:
- Increasing awareness regarding health-benefits of palm sugar over conventional ones
- Rising preference for E-commerce surfing and shopping
- Rising demand for organic foods
- High prevalence of diabetes, especially among mid-ages individuals, may hinder growth
Latin America market revenue is projected to expand at a moderate and steady growth rate over the 10-year forecast period. Factors driving Latin America market growth include:
- High number of palm trees cultivated in countries in the region
- Early and higher adoption of pal-based products by individuals
Global Palm Sugar Market Segmentation
Segmentation by Nature:
Segmentation by Form:
Segmentation by Application:
- Food (Bakery Products, Confectionery, Frozen Desserts, Canning & Freezing, and Non-Sweet Food Products)
- Beverages (Energy Drinks, Smoothies, and Syrups)
Segmentation by End-use:
- Food & Beverage Industry
- Food Service
Segmentation by Distribution Channel:
- Supermarkets/ Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Retail
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- American Key Food Products
- Real Raw Food
- Palm Nectar Organics
- Royal Pepper Company
- Wholesome Sweeteners, Inc.
- Big Tree Farms, Inc.
- Biona Organic
- FGV (Felda Global Ventures) Holdings
- Taj Agro Products
- Thai Taste (Empire Bespoke Foods)
- Seven Hills Wholefoods (Organic Wholefoods Limited)
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