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The Philippines, Indonesia, and Thailand are the major producers of coconut nectar syrup owing to the favourable climatic and cultivation conditions. The Philippines government's Food and Nutrition Research Institute revealed that coconut nectar syrup, in comparison to granulated sugar and high-fructose corn syrup, is rich in iron, zinc, and calcium. Owing to the rising health awareness, Europe is expected to serve as a significant region for the product in the forecast period. This trend is supported by legislation, as some countries like the United Kingdom and Ireland have introduced a "Sugar Tax". This is compelling the food and beverage manufacturers to look for healthier and cost-effective alternatives. In Ireland, the average sugar content per serving of energy drinks has dropped by nearly two level teaspoons of sugar, falling to 23g in 2020 from 31g in 2016 since the announcement of the sugar tax, according to estimates.
The growing demand for non-GMO food products is also aiding the industry growth. The organic coconut nectar syrup is minimally processed, wherein the sap is simply harvested and reduced. Being a non-GMO syrup with a similar sweetness level to maple syrup, organic coconut nectar syrup offers a neutral sweet flavour that lends itself to many different recipes. Moreover, organic coconut nectar syrup has a glycemic index that is remarkably low for a sweetener, just 35, which is quite exceptional. This is significantly driving the product demand for various food applications. Further, the easy availability of coconut nectar syrup through retail platforms like Walmart Inc (NYSE: WMT) and Amazon.com, Inc. (NASDAQ: AMZN) is expected to significantly contribute to the industry growth over the forecast period.
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The major players in the global coconut nectar syrup market include Davidsun Coconut Products, Pure Coco., and Superfood d.o.o, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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