Extracted from liquid sap of different varieties of palm trees, palm sugar is a natural sweetener that has all the properties of conventional sweetener and healthier than them. Palm sugar is extracted from palmyra palm, date palm, nipa palm sugar palm, and coconut palm, and is rich in vitamins such as B1, B2, B3, B6, and minerals such as potassium, zinc, iron, and other nutrients. Palm sugar has a low glycemic index than other natural sugar, and is healthier than brown & white sugar. Palm sugar is used as an alternative of sugar by the food & beverage industry as an active ingredient in processing healthy food items. Palm is used both in sweet and savory dishes and produced by boiling the collected sap until its thickness changes. Moreover, palm sugar is used by confectionaries and bakeries in baking desserts, sweets, sauces, cakes, cookies, and other food items. Innovation in the segment is related to focus in different forms such as liquid palm sugar.
COVID-19 Scenario Analysis
- The demand for palm sugar has increased drastically as people are now more aware of healthy food alternatives.
- Manufacturers are facing problems as raw materials are not available due to a lack of transport facilities and unavailability of labor supply.
- The market will grow drastically after the pandemic as the demand for healthy food items will increase.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Rising demand from the food & beverage industry due to low-calorie than conventional sugars, changing food habits of people due to urbanization, awareness about consumption of excess sugar, and increasing blood-sugar & diabetic patients are the major factors driving the global palm sugar market. Moreover, increasing disposable income inkling toward healthy foods and the demand for organic food items are the factors increasing the demand for palm sugar. However, high cost of processing palm sugar than conventional white sugar and the availability of alternative sweeteners such as honey and dates. Conversely, investment relating to the development of new low-cost techniques for the production of palm sugar will boost the market demand.
Rising Demand of Natural Sweeteners
Growing health problems due to consumption of processed white sugar and risingprevalence of several chronic illnesses such as obesity, diabetes, heart diseases, and cancer are changing the minds of food & beverage manufacturer for alternative natural sweeteners and are increasing the demand from food processing units. Moreover, some beverage companies have started using palm sugar, jaggery, and other natural sweeteners for their milk & yogurt-based drink, which is a factor that is influencing the palm sugar market to change the conventional use of white sugar.
The Asia-Pacific market consumers are the highest consumers of palm sugar as palm sugar has been one of the oldest forms of sweeteners in countries like India, Indonesia, the Philippines, and other Asian countries. People in these countries have traditionally used palm sugar and are still inclined toward the use due to the associated health benefits of palm sugar. The food & beverage processing units in these countries have come up with new and healthy food items and beverages having palm sugar as an active ingredient.
North American and European marketsare growing significantly due to increase in health cases and the rise of diabetic patients, which has increased the demand for organic & healthy food & beverages in the market. Moreover, the presence of food processing units in European counties has increased the palm sugar demand for natural sweeteners in food products.
Key Benefits of the Report:
- This study presents the analytical depiction of the global palm sugar industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global palm sugar market share.
- The current market is quantitatively analyzed to highlight the global palm sugar market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global palm sugar market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Palm Sugar Market Research Report:
- Which are the leading players active in the palm sugar market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
Palm Sugar Market Report Highlights
By Distribution Channel
Key Market Players
Coco Sugar Indonesia, Royal Pepper Company, Biona, Organic Wholefoods Limited, The Real Co Inc., Palm Nectar Organics, Windmill Organics Limited, Midsona Deutschland GmbH, Phalada Agro Research Foundations Private Limited, Rabiah - Coconut Product, The Groovy Food Company Ltd.