Rockville, April 05, 2023 (GLOBE NEWSWIRE) -- The valuation of the global palm sugar market is expected to be US$ 2.8 billion by the end of 2033. Worldwide demand for palm sugar is forecasted to rise at a CAGR of 3.4% from 2023 to 2033. Growing awareness about benefits related to the application of palm sugar is set to generate lucrative opportunities in the market.

Palm sugar is a natural sweetener, which is extracted from the liquid sap of multiple varieties of palm trees. It has all the possible properties of traditional sweeteners and is healthier than them. Coconut palm, nipa palm, date palm, sugar palm, and palmyra palm are used for the extraction of palm sugar. It is rich in vitamins, including B6, B3, B2, B1, and minerals, including iron, zinc, potassium, and other nutrients.

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Palm sugar comes with a low glycemic index compared to other natural sugars and is considered healthier compared to white and brown sugar. Palm sugar is also utilized as an effective alternative to sugar in the food industry and as a significant ingredient to process healthy food items. Palm sugar is used in sweet as well as savory dishes and is produced by boiling the collected sap till there is a change in its thickness.

Key Takeaways from Market Study

“Rising health issues owing to the consumption of processed white sugar along with the growing prevalence of chronic diseases, including diabetes, cancer, obesity, and heart diseases, are pushing the demand for alternative natural sweeteners such as palm sugar by food & beverage manufacturers,” says a Fact.MR analyst.

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Food & Beverage Industry Contributing to Increased Demand for Palm Sugar Due to its Low Calorie Content

The food & beverage industry is contributing to increased demand for palm sugar owing to its low-calorie compared to conventional sugar. Changing food habits of consumers due to increased awareness about adverse impacts of excessive consumption of sugar and the rising number of diabetic and blood-sugar patients are anticipated to drive sales of palm sugar.

Palm sugar is utilized by bakeries and confectionaries in baking sauces, desserts, cakes, sweets, cookies, and some other food products. Different forms of palm sugar, including powder, liquid, and crystal are used by manufacturers from the food & beverage industry. Various beverage companies have started to use palm sugar and some other natural sweeteners for their yogurt & milk-based drinks, which is predicted to influence opportunities in the target market.

Availability of Alternative Sweeteners and High Manufacturing Cost of Palm Sugar Adversely Impacting its Consumption

Producers of palm sugar need to invest significantly in the manufacturing process. The cost to produce palm sugar is comparatively higher than other conventional sugar, including white sugar.

There are various alternative sweeteners, which are available in the global market. Dates and honey are popular alternatives to palm sugar, which are used by manufacturers in the food & beverage industry.

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Key Segmentation :

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the palm sugar market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).

The study divulges essential insights into the market based on nature (organic, conventional), form (powder, liquid, crystal), end use (food & beverages, food service, household/retail), and distribution channel (business to business, business to consumer), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).         

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Date Sugar Market Size: The sales of date sugar are likely to exceeded US$ 2,000 Mn in 2022. Date sugars’ antibacterial properties along with it being a great substitute for cane sugar is driving the demand for the same.

Glucose Syrup Market Latest Trends: The global glucose syrup market is valued at US$ 4.2 billion in 2023 and is projected to reach US$ 6.9 billion by the end of 2033, expanding at a steady CAGR of 5% from 2023 to 2033.

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