Portland, OR, Nov. 04, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global coconut sugar market garnered $243.4 million in 2021, and is estimated to generate $408.7 million by 2031, manifesting a CAGR of 5.5% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $243.4 million |
| Market Size in 2031 | $408.7 million |
| CAGR | 5.5% |
| No. of Pages in Report | 285 |
| Segments covered | Form, Application, End User, Sales Channel, and Region. |
| Drivers | Surge in demand for sugar alternatives due to rise in the number of patients with diabetes |
| Opportunities | Growing trend toward veganism |
| Restraints | Availability of a large number of substitutes for coconut syrup |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global coconut sugar market, owing to implementation of global lockdown which resulted to temporary closure of coconut sugar factories.
- Curfew practices globally affected the domestic as well as international production of coconut sugar products, which, in turn, hampered the growth of the overall market.
- Supply chain disruptions, shortage of labor, and unavailability of raw materials were few more challenges faced by manufacturers.
- However, the market has already recovered by the end of 2021.
The research provides detailed segmentation of the global coconut sugar market based on form, end user, application, sales channel, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on application, the personal care segment held the highest share in 2021, accounting for more than two-thirds of the global coconut sugar market, and is expected to continue its leadership status during the forecast period. However, the cosmetics segment is expected to register the highest CAGR of 7.2% from 2022 to 2031.
Based on sales channel, the B2B segment accounted for the highest share in 2021, contributing to more than half of the global coconut sugar market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the e-commerce segment is expected to manifest the highest CAGR of 6.7% from 2022 to 2031.
Based on end user, the commercial segment accounted for the highest share in 2021, holding nearly 90% of the global coconut sugar market, and is expected to continue its leadership status during the forecast period. However, the residential segment is estimated to grow at the highest CAGR of 7.5% during the forecast period.
Based on region, Asia-Pacific held the largest share in 2021, contributing to around three-fifths of the total coconut sugar market share, and is projected to maintain its dominant share in terms of revenue in 2031. On the other hand, the LAMEA region is expected to manifest the fastest CAGR of 6.4% during the forecast period. The research also analyzes regions including North America and Europe.
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Leading market players of the global coconut sugar market analyzed in the research include Big Tree Farms, The Coconut Company Ltd, Marico Ltd, Vita Coco, PT coco sugar Indonesia, Tree Life, Madav Ltd, Celebs Coconut Corporation, Amala Earth, Brio Feed, Cocosugar, BetterBody Foods & Nutrition.
The report provides a detailed analysis of these key players of the global coconut sugar market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
