Palm Sugar Market Share Expected To Witness A Sustainable Growth Till 2030
Market Overview
According to the reports by MRFR, the global organic Palm Sugar Market Share was valued at USD 630 million in 2018. The organic Palm Sugar Market Share is projected to register a healthy CAGR of over 8.6% during the assessment timeframe.
Organic palm sugar refers to unrefined palm sugar comprised of no added functional additives and preservatives. They are obtained mainly from Palmyra palm, dates, nipa, and coconut trees. Organic palm sugar is preferred over refined white sugar due to its health benefits and high demand for organic products. The global organic Palm Sugar Market Share has witnessed massive growth due to the need for sugar substitutes, growing awareness regarding the negative impact of table sugar on overall health, and the rising prevalence of obesity, diabetes, and coronary heart disorders. However, the growth of the organic Palm Sugar Market Share is projected to be restricted by the limited awareness regarding the benefits, complete production of raw material, and need for time and labor.
Segmental Analysis
The global organic Palm Sugar Market Share is divided into several segments based on form, packaging type, distribution channels, and region.
The organic Palm Sugar Market Share is bifurcated into liquid, granules, and block-based on the form.
The global market is divided into pouches, jars, and bottles based on packaging type.
The organic Palm Sugar Market Share is split into non-store-based and store-based by distribution channel.
The global nipa palm sugar is studied across five major regions: North America, South America, Asia-Pacific, Europe, and the Middle East & Africa.
According to the reports by MRFR, the Asia-Pacific regional organic Palm Sugar Market Share is projected to dominate the market globally over the review timeframe. Due to high palm and coconut cultivation, palm sugars are conventionally used across the region. Furthermore, the health benefits of palm sugar are another primary parameter boosting the demand across the regional market. Moreover, the launch of innovative and healthy food items and beverages with palm sugar will likely accelerate the regional market's growth over the assessment timeframe.
The North American regional market is likely to register fast growth over the forecasted era. The regional market's growth is being driven by the growing demand for organic products and the changing lifestyle of people across the region. Furthermore, the increasing cases of diabetes across the region is another primary parameter causing a surge in demand for organic palm sugar across the regional market.
The European regional market will record substantial growth over the review timeframe. The regional market's growth is being driven by the rise of diabetic patients and increased health cases. Furthermore, the presence of food processing units in European counties is also likely to boost the regional market's growth over the review timeframe.
Competitive Analysis
The global organic Palm Sugar Market Share has an intensely competitive landscape with many active players. The players in the market are adopting several new strategies such as mergers, acquisitions, partnerships, and product developments to strengthen their market position. The list of prominent players in the global organic Palm Sugar Market Share includes The Real Co Inc (US), Organic Wholefoods Limited (UK), Cocoa Sugar Indonesia (Indonesia), Phalada Agro Research Foundations Private Limited (India), Royal Pepper Company (US), Groovy Food Company Ltd. (UK), Windmill Organics Limited-Biona (UK), Palm Nectar Organics (Indonesia), Midsona Deutschland GmbH (Germany), Rabiah - Coconut Product (India), and several others.
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