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Coconut Syrup Market Trends

Report ID: GMI7825
Published Date: Jan 2024
Report Format: PDF

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Coconut Syrup Market Trends

The increasing popularity of natural sweeteners as consumers shifted towards healthier lifestyles. Coconut syrup, with its low glycemic index and perceived health benefits, gained traction as an alternative to refined sugars. The market witnessed a surge in demand for plant-based products, and coconut syrup met this requirement as a vegan-friendly, plant-derived sweetener.

Additionally, manufacturers focused on product innovation, introducing flavored variants and blended formulations to cater to diverse consumer preferences. Another trend was the emphasis on sustainability and ethical sourcing practices, aligning with consumer expectations for transparency and eco-friendly products. Despite facing challenges related to raw material availability and price fluctuations, the market continued its growth trajectory. The evolving consumer preferences for clean-label products and the ongoing quest for natural, minimally processed ingredients were anticipated to further propel the market expansion.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Coconut syrup industry size was USD 395.3 million in 2023 and is expected to register over 5.2% CAGR from 2024-2032 owing to its rich flavor profile, low glycemic index, and perceived health benefits compared to refined sugars worldwide.

Coconut syrup industry from the liquid form segment reached USD 337 million in 2023 and is expected to register an appreciable CAGR from 2024-2032 owing to its widespread applicability across diverse industries, including food, beverage, and personal care.

North America coconut syrup industry recorded over USD 96.6 million in 2023 and is expected to register commendable CAGR from 2024-2032 due to the rising consumer interest in healthier alternatives to traditional sweeteners in the region.

Coconut Secret, Big Tree Farms, Wholesome!, Madhava Sweeteners, Monin, and Suncore Foods are some of the major coconut syrup companies worldwide.