Coconut sugar is made from the coconut palm’s flower bud stem sap. Major producers, the Philippines, Indonesia, and Thailand have contributed about 80% of the world’s production during the past few decades. This is because their cultivation circumstances are favorable.
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Region-wise, Asia-Pacific dominated the coconut sugar market in 2021 and is estimated to reach $250.9 million by 2031, with a CAGR of 5.6%. Europe is estimated to reach $76.4 million by 2031, at a significant CAGR of 5.0%. Asia-Pacific and Europe collectively accounted for around 80.5% share in 2021. Demand is being fueled by coconut sugar’s nutritional advantages. Since it is considered a healthier alternative to sugar, European food and beverage companies are using it in their product formulations.
Leading Key Players Included:
The players operating in the global coconut sugar market have adopted various developmental strategies including but not limited to product launch, geographical expansion and acquisitions to increase their market share, gain profitability, and remain competitive in the market. The key players operating in the coconut sugar market include The Coconut Company (UK) Ltd, The Divine Foods, Franklin Baker, Coco Sugar Indonesia, Big Tree Farm, NOW Foods, Nutiva Inc, Madhava Ltd., AGRIM PTE LTD, Tradin Organic Agriculture B.V., Koperasi Nirasatria, Singabera, Treelife, Groovy Food Company Ltd, Connecticut Coconut Company, Betterbody Foods, and Wholesome Sweetener Inc.
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