A new report by XploreMR studies the growth drivers, trends, restraints, and highlights of the global palm sugar market. Presenting exclusive insights into the market from 2017 to 2025, the report projects that the market will witness notable growth during the forecast period. Palm sugar is a natural sweet agent produced from palm trees, and is rich in potassium, zinc, iron, vitamins, and other nutrients. Moreover, palm sugar has high nutritional value and low glycemic content as compared to white and brown sugar. On this premise, palm sugar finds high adoption in the food & beverage (F&B) sector. The growth of the market is predominantly attributed to the growing demand for confectionery products, low caloric content solutions, and rising demand for natural and dietary food products. Furthermore, increasing levels of disposable income in developing economies coupled with a growing preference for organic food is also anticipated to complement the market growth in the forthcoming years.
Increasing Health-consciousness and Prevalence of Diabetes Among Consumers Continues to Channel Revenue
In the recent past, the demand for organic food has surged owing to increased awareness regarding the role of healthy food intake in curbing chronic diseases. The high prevalence of diabetes in developed and developing economies is pushing consumers to opt for healthier food ingredients, and leveraging the demand, players in the F&B sector are focusing on developing natural varieties, which is propelling the demand for palm sugar, owing to its rich nutritional value. Palm sugar contains a rich amount of minerals, such as potassium, iron, and zinc, vitamins including B1, B2, B3, and B6, which makes it an ideal component in the production of organic food products. Parallelly, the continually growing demand for confectionery food products among health-conscious millennials has bolstered palm sugar to replace conventional sweeteners, such as brown sugar and white sugar. High adoption in the confectionery sector is expected to remain the major growth driver through the forecast period. However, the high cost of palm sugar, as compared to white sugar, is posing a major challenge to market growth. Besides, the availability of a wide variety of alternative sweeteners, such as raw honey, maple sugar, stevia, coconut sugar, and dates, among others could limit adoption to a certain extent.
North America Remains on Forefront while Asia Pacific Exhibits Tremendous Growth Potential
The North American market is forecasted to hold the lion's share in the global market value, backed by high demand for healthy and natural sweet agents, coupled with high consumption of a wide variety of frozen desserts. While Europe is expected to remain the second most lucrative region for palm sugar, the Asia Pacific region is expected to grow at a tremendous pace during the forecast period. The major attributes to the growth of Asia Pacific are, increasing awareness regarding health-benefits, the emergence of E-commerce payers, and increasing demand for organic foods.