Sugar is a generic term for soluble carbohydrates native to New Guinea, Australia. At first, people chew on the reeds to enjoy their sweetness. Two millennia later, sugarcane made its way to the Philippines and India. Today, sugar has become an extremely popular commodity widely used in the processed food industry to add taste, thickness, and bulk to food items.
But the rising incidences of obesity, diabetes, and metabolic syndrome associated with high sugar consumption have led people to opt for alternative options like palm sugar. In this blog post, we detail what palm sugar is and its potential health benefits. Also, we cover how the palm sugar market is expanding and what factors fuel its growth. Read on!
What Exactly is Palm Sugar?
Put simply, palm sugar is a natural sweetener derived from the sap found in the palm tree’s flower bud. It is also referred to as natural sugar as it requires minimal processing. Also, there are no chemicals used to produce palm sugar.
Initially, heat is applied to the sap to absorb all the moisture present and get a thick syrup. After this, the sweet syrup is further processed to reduce it into crystals. Palm sugar produced by palm sugar market key players and other key players can usually be found in granular, block, or liquid form.
Growth Drivers
Rising number of health-conscious people: The rising number of health-conscious people looking for refined sugar alternatives and the advent of palm sugar as a natural sweetener are some of the major factors boosting the palm sugar market sales at a significant pace.
Increasing globalization of Asian cuisines: The past few years have seen the globalization of different Asian cuisines, including Chinese, Indonesian, and Thai. As palm sugar is used in many of these recipes, its demand has increased in several international markets.
Growing emphasis on innovation: Several product manufacturers worldwide are heavily focused on research initiatives to improve palm sugar characteristics and enhance their nutritional value. Besides, there has been a surge in government initiatives to create awareness about the potential benefits of consuming palm sugar, further propelling the market demand.
Potential Health Benefits of Palm Sugar
Here are some potential benefits of consuming palm sugar:
Antioxidant properties: Palm sugar come with bioactive compounds like flavonoids and polyphenols. As a result, palm sugar can act as an antioxidant.
May heal diabetic ulcers: Type-2 diabetes often leads to the formation of diabetic ulcers. These ulcers can be caused due to infections or impaired blood flow.
May reduce the risk of colon cancer: Palm sugar may reduce the risk of colon cancer through its antioxidant activity and the vitamins and minerals present in it.
Can boost energy: The accumulation of lactic acid in the muscles might result in fatigue and cramps during and after exercise. Palm sugar, which can lower the body’s lactic acid levels, may help reduce muscle fatigue and boost energy.
Segmental Analysis
The Organic Segment is Anticipated to Grow at the Fastest Rate
There has been a surge in the demand for organic palm sugar as a safer and more convenient alternative among health-conscious consumers. Also, the popularity of vegan diets has increased dramatically in the past few years. Palm sugar, which is a vegan-friendly sweetener and has several natural characteristics, appeals to a large number of consumers following vegan and plant-based dietary choices. As a result, the organic segment is anticipated to witness significant growth in the palm sugar market over the forecast period.
The Powder Segment Dominated the Market in 2022
Palm sugar in powder form can easily blend with several other ingredients. Also, it has a wide range of applications in baking, desserts, beverages, and dressings. Furthermore, power-based palm sugar offers convenience compared to other sugar forms as it can be easily measured and stored. As a result, the adoption of this palm sugar form has increased globally.
To Conclude
The palm sugar market was valued at USD 1.86 billion in 2022 and is expected to grow to USD 3.33 billion at a CAGR of 6.30% during the forecast period. With changing consumer habits and growing awareness about excess sugar consumption, the palm sugar industry demand is expected to witness steady growth in the coming years.