Market Overview —
Global Covid-19 Analysis on Organic Palm Sugar Market is expected to rise at a strong 8.6% CAGR over the forecast period from 2020 to 2024, according to the latest research report from Market Research Future (MRFR). The report presents a detailed overview of the global organic palm sugar market and provides readers with detailed information about the market’s growth prospects over the forecast period. The competitive landscape of the global organic palm sugar market is also assessed in detail in the report. The global organic palm sugar market was valued at USD 630 million in 2020.
Organic palm sugar is produced from the sap in the flower buds of the palm tree. Palm sugars are healthier than regular table sugar, as they contain antioxidants, flavonoids, and polyphenols, which help increase the efficacy of the body’s immune system, among other benefits. This has been the major driver for the global organic palm sugar market, as table sugar is highly unhealthy and can cause diseases such as diabetes. While palm sugars contain just as much sugar content as table sugar, they also contain healthy substances crucial for the body’s upkeep, making them healthier than table sugar. Growing awareness about the unhealthy attributes of regular table sugar has led to many consumers actively seeking out healthier alternatives. This has driven the demand for organic palm sugar, along with other artificial and synthetic sweeteners. The growing demand for organic produce has also been a key driver for the global Covid-19 Analysis on Organic Palm Sugar Market, as organic products are considered by some consumers as being inherently healthier than conventionally grown produce. This is also likely to be a major driver for the global organic palm sugar market over the forecast period.
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On the other hand, lack of awareness about the benefits of palm sugar is the major restraint on the global organic palm sugar market. Due to the unconventional nature of palm sugars, many consumers, especially in developed Western economies, are not aware of them. This has led to the organic palm sugar market mainly proliferating in Eastern markets, where palms are grown in huge quantities and awareness about various palm products is high. Growing in Western markets is likely to be the major challenge for the global organic palm sugar market over the forecast period.
Leading players in the Covid-19 Analysis on Organic Palm Sugar Market include The Groovy Food Company Ltd., Rabiah Coconut Product, Royal Pepper Company, Midsona Deutschland GmbH, Phalada Agro Research Foundations Pvt. Ltd., Palm Nectar Organics, Coco Sugar Indonesia, Windmill Organics Limited – Biona, Organic Wholefoods Ltd., and the Real Co. Inc.
The global organic palm sugar market is segmented based on form, packaging type, distribution channel, and region.
By form, the global organic palm sugar market is segmented into block, granule, and liquid.
By packaging type, the global Covid-19 Analysis on Organic Palm Sugar Market is segmented into bottles & jars and pouches.
By distribution channel, the global organic palm sugar market is segmented into store-based and non-store based. The store-based distribution channel is further subsegmented into hypermarkets and supermarkets, convenience stores, and others. The non-store-based distribution channel is likely to witness robust growth over the forecast period due to the increasing adoption of online selling channels by palm sugar manufacturers.
Asia Pacific holds the largest share in the global Covid-19 Analysis on Organic Palm Sugar Market and is likely to remain the leading revenue generator over the forecast period. The widespread awareness about palm sugars in Asia Pacific, especially in Southeast Asian countries such as Thailand, Indonesia, and Malaysia, is a major driver for the organic palm sugar market in Asia Pacific. This has been brought about by the widespread cultivation of palm trees in this region, which is also a major driver for the organic palm sugar market in Asia Pacific. Growing awareness about organic farming in Asia Pacific is also likely to be a major driver for the organic palm sugar market in Asia Pacific.
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