The North America Coconut Sugar Market would witness market growth of 4.4% CAGR during the forecast period (2022-2028).
The acceptability of vegan cuisine is the most current trend among individuals. Due to the fact that it's a vegan product, coconut sugar has recently seen an increase in demand. A significant section of the population is becoming more obese or diabetic, which has increased the demand for sugar substitutes and is expected to drive the growth of the coconut sugar market. As a result of growing awareness of coconut sugar's health advantages, the market for coconut sugar has undergone growth.
The demand for sugar-free content in end-user sectors, including food, beverage, bakeries, or confectioneries, has opened up new growth potential. In addition, there are more coconut palm plantations as a result of the many expansion options. As a result, consumers in developing countries are spending more money on personal care, cosmetics, and healthy food products, which could eventually result in significant market growth for coconut sugar.
The demand for sweets and beverages in North America is anticipated to rise as a result of the hectic lifestyle, fast urbanization, and growing retail and hospitality sectors. Foods and beverages with organic ingredients are becoming more popular in the US as a result of consumer desire for a plant-based diet along with their willingness to pay more for goods with clean labeling. The region's high level of spending power, which is also boosting the expansion of the local hotel industry and the regional economy, is driving an increase in demand for an affluent lifestyle. All of this is expected to support the market expansion for coconut sugar.
The US market dominated the North America Coconut Sugar Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $48,465.7 Thousands by 2028. The Canada market is experiencing a CAGR of 6.8% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 5.9% during (2022 - 2028).
Based on Sales Channel, the market is segmented into Business to Business, Specialty Stores, Hypermarkets and E-Commerce. Based on Application, the market is segmented into Personal Care, Cosmetics and Food & Beverage. Based on Form, the market is segmented into Conventional and Organic. Based on End User, the market is segmented into Commercial and Residential. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Coconut Sugar Market is Estimated to reach $290.1 Million by 2028, at a CAGR of 5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nutiva, Inc., NOW Foods, Inc., The Coconut Company (UK) Ltd., The Divine Foods, Groovy Food Company Ltd., Coco Sugar Indonesia, Big Tree Farms, Inc., Madhava, Ltd., AGRIM PTE Ltd., and Tradin Organic Agriculture B.V. (SunOpta group of companies).
By Sales Channel
By Application
By Form
By End User
By Country
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