The market for palm sugar is dominated by the Asia Pacific region. Several companies are importing organic palm sugar from Indonesia, India, and Philippines at a very low price and are offering palm sugar with private labelling to other regional markets. Companies are currently focusing on launching palm sugar in different forms, especially the liquid form, and are pumping in investments in research and development for product innovation, with a view to expand their customer base and enhance their regional presence. Insights like these and more are the crux of a new report on the global palm sugar market published by Persistence Market Research. The report titled “Palm Sugar Market: Global Industry Analysis (2012–2016) and Forecast (2017–2025)” tracks the performance of the global market for palm sugar over a period of eight years from 2017 to 2025. The global palm sugar market is estimated to be valued at US$ 1,684.2 Mn by 2017 end, and is forecast to be valued at US$ 2,205.8 Mn by 2025 end. Sales revenue is projected to increase at a CAGR of 3.4% during the forecast period (2017-2025).
Global Palm Sugar Market: Trends
- Growing interest and popularity among consumers in organic food products
- Increasing demand for healthier and premium food options such as smoothies and other bakery products
- Growing interest among consumers regarding ethically sourced products, thereby providing opportunities for ethically traded palm sugar
- More transparency in e-commerce, internet and online stores accompanied with review sites, thereby making it easy for consumers to compare products
- Rising trend of consuming products such as pastries, biscuits and cakes
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Global Palm Sugar Market: Segmental Analysis and Forecast
The global palm sugar market is segmented on the basis of origin, end use, form, and distribution channel. By origin the market is segmented into conventional and organic. The growing demand for organic food products is expected to boost the demand for organic palm sugar across the globe. The organic palm sugar market is estimated to account for a value share of 23.3% by 2017 end, and is anticipated to register a CAGR of 4.4% in terms of value over the forecast period.
On the basis of form the market is segmented into powder, crystal and liquid. The powder segment is expected to account for relatively high value share in the global market by 2025 end, while in terms of value, the liquid segment is expected to expand at a relatively high CAGR over the forecast period.
End use segmentation of the global palm sugar market includes food and beverage, foodservice, and household. With more than 80% value share, the household segment is expected to lead the global palm sugar market and register a CAGR of 3.2% in terms of value over the forecast period.
The segments by distribution channel comprise direct and indirect segments. In terms of value, the indirect channel segment is projected to be the most attractive market in the global palm sugar market during the forecast period.
Global Palm Sugar Market: Forecast Analysis by Region
The five key geographies of North America, Latin America, Europe, APAC and MEA have been covered in this report. Asia Pacific accounts for the highest market share throughout the forecast period. Indonesia is the largest producer as well as consumer of palm sugar in the Asia Pacific region and controls the dynamics of the global palm sugar market.
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Global Palm Sugar Market: Key Players
Navitas Organics, Windmill Organics Ltd, Wholesome Sweeteners, Inc., Asana Foods, Organika Health Products Inc., Betterbody Foods & Nutrition LLC, Big Tree Farms, e Farms, Inc., Royal Pepper Company, Sevenhills Wholefoods, and Phalada Agro Research Foundation are some of the leading companies operating in the global palm sugar market.