Market ScenarioAccording to MRFR, the global Palm Sugar Market 2020 is projected to register a CAGR of 3.4% over the review period (from 2019 to 2024) to reach a market valuation of USD 2.1 billion by the end of 2024.
Palm sugar is also used widely, as well as in homes, to make biscuits, waffles and as a sweetener for iced tea.
The important feature of this sector is the production of new goods.
Throughout the forecast period the traditional segment is projected to dominate the global demand for palm sugar.
The organic segment is projected to rise at a faster pace during the assessment period as the demand for palm sugar obtained from palm trees, produced in an organic environment without the use of hazardous chemicals, is that among health-conscious consumers as a healthier alternative to the sugar obtained from conventionally grown palm trees.The world market was segmented into rock, ice, and liquid depending on shape.
Thanks to an growing appetite for highly nutritious drinks among customers, the liquid category is poised to experience the maximum CAGR during the forecast period.The global palm sugar business application category was split into food & drinks, as well as personal care.