Market Overview
Palm sugar is a sweetener which is manufactured from the sap present in the flower buds, grown on top of the coconut palm trees. Organic palm sugar is a better alternative to table sugar as it contains some extra micronutrients such as antioxidants, flavonoids, polyphenols, and others. Organic palm sugar is healthier than the conventional table sugar for diabetic patients as well as consumers suffering from blood sugar problems. Due to its low glycemic index which means that food is slowly absorbed by the body, helps in maintaining the blood sugar level and preventing a spike in insulin level. This market is witnessing a high demand of the product because of its nutritional as well as extra micro nutritional attributes. Organic palm sugar is naturally made from extracts and contains no chemicals, which is one of the reasons people prefer this product. Organic palm sugar is also gaining popularity as an ingredient in bakery products and beverages as well as savory dishes. Nutritional attributes and increasing health awareness are expected to remain the key growth drivers of the organic palm sugar market for the forecasted period.
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Competitive Analysis
Some of the Key Players in the Global Organic Palm Sugar Market are
American Key Food Products (U.S.)
bigtreefarms (U.S.)
Royal Pepper Company (U.S.)
Taj Agro Products (India)
Windmill Organics (U.K.)
Palm Nectar Organics (U.S.)
Felda Global Ventures (Malaysia)
The demand for Organic Palm Sugar has pushed manufacturers to innovate and develop the new product lines, which are better in taste and offers various health benefits.
Market Forecast
The global organic palm sugar market is growing due to rising consumer awareness and their increasing interest in healthy lifestyle, thus, increasing the demand for organic palm sugar. In addition to the changing lifestyle, the growing demand for natural and dietary food, beverages, confectionery, and others is expected to drive the organic palm sugar market. The global organic palm sugar market is projected to propel the increasing awareness regarding available health benefits from diseases such as blood sugar as well as consumers suffering from diabetes. Increased awareness about the organic palm sugar has raised the bar for quality, which, in turn, increase the market share of organic palm sugar globally. Major market infiltration is leading to the introduction of new products based out of organic palm sugar and their retail across various regions. The market players are responding to these new opportunities by expanding their service offerings and product lines, which has fueled up the share of organic palm sugar in the global market. High nutritional benefits obtained from organic palm sugar are also supporting the sale of organic palm sugar globally. Additionally, the augmentation of the product development together with research advancements are other significant reasons for the increasing growth of the organic palm sugar market. Hence, along with changing consumer preferences, the growth of global organic palm sugar market is significantly increasing during the forecast period of 2017-2023.
Downstream Market Analysis
Globalization and urbanization are the major driving factors of this market. Furthermore, the popularity of organic palm sugar and involvement of nutritional attributes as well as extra micronutrients are also encouraging the growth of the organic palm sugar market. Rising demand for organic products is expected to play a significant role in the growth of the global organic palm sugar market during the forecast period. Additionally, the augmentation of the product development together with research advancements are other significant reasons for the increasing growth of the organic palm sugar market from 2017-2023.
Regional Analysis
The global organic palm sugar market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Among these, Asia Pacific region accounts for the major market share owing to abundant raw material and technical know-how followed by Europe. Organic palm sugar market is growing rapidly in the Asia Pacific as palm trees are mostly grown in tropical regions and due to growing demand for dietary products, nutritious food and beverages as well as due to health benefits of this product in this region. Changing consumer preferences for natural, dietary, and healthy products will support the sale of organic palm sugar products in Asia Pacific region over the forecast period. Growing food and beverages industry in Europe will drive the growth of the market in this region in the forecasting period. However, Asia Pacific region is estimated to witness maximum growth in the global organic palm sugar market over the forecast period 2017-2023.
Market Segmentation
The global organic palm sugar market is segmented by form, nutrients, application, distribution channel, and region.
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