Owing to technological advancements and growing R&D activities, the product is expected to witness enhanced demand from various industries in the forecast period. As regular sugar is sometimes processed with the bone char from animals to obtain its white colour, coconut nectar syrup serves as a vegan alternative. Moreover, with the growing vegan population, the demand for vegan food products has also increased, thus, pushing the growth of the coconut nectar syrup industry forward. This is further supported by the growing prevalence of diabetes. The negative impact of artificial flavours and sweeteners on health is compelling the manufacturers to look for natural alternatives. The rising health awareness among consumers is driving the demand for natural and plant-based products over synthetic ones, which is aiding the growth of the coconut nectar syrup industry. Rising Demand for Natural Products and Growing Vegan Population to Boost the Demand for Coconut Nectar Syrup The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The various applications of coconut nectar syrup are:īased on end use sectors, the industry is segmented into: On the basis of nature, the market is bifurcated into: Being a natural fructose sweetener, coconut nectar syrup is an ideal replacement to normal sugars and other artificial sweeteners. This nectar is rich in mineral and iron content, and thus, helps the body to regulate blood pressure. The growing awareness regarding the benefits of coconut nectar syrup and its easy availability are aiding the industry growth in the regions.Ĭoconut Nectar Syrup: Market SegmentationĬoconut nectar is obtained by collecting, filtering, and boiling coconut flower sap, which is extracted from green coconut flower blossom. Region-wise, Europe and North America are expected to significantly contribute to the industry growth over the forecast period. Based on nature, the organic segment is expected to witness a healthy growth over the forecast period owing to the growing shift towards a healthy lifestyle. The growing demand for natural sweeteners is aiding the industry growth. As coconut nectar syrup is a great source of amino acids and vitamins, it is increasingly being preferred by the manufacturers to attract health-conscious people. It is utilised to add a sweet flavour to raw chocolates and provide smoothness to homemade desserts. The rising demand for coconut nectar syrup in the bakery and confectionary sectors is significantly contributing to the industry growth. Increasing Product Demand in the Bakery and Confectionery Industries to Aid the Global Market for Coconut Nectar Syrup Read more about this report - REQUEST FREE SAMPLE COPY IN PDF The coconut syrup market is further expected to grow at a CAGR of 7.0% in the forecast period of 2023-2028. The global coconut nectar syrup market is being aided by the rising coconut syrup market, which reached a value of USD 167.99 million in 2020. Global Coconut Nectar Syrup Market Outlook
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