Date Syrups to Account for 40% Revenue in the Global Date Sugar Market: Fact.MR Study
Published : 12 Jan 2022 Industry: Food & Beverage
Fact.MR predicts the sales of global date sugar to surpass US$ 2,960 Mn by registering a CAGR of 4% in the assessment period 2022-2032. Consumers are using date sugar in everyday food and drinks as it is a great substitute for cane sugar. In addition, antibacterial properties of date sugar are playing a key role in the increasing demand for the same.
Historically, over the last five years, from 2017 to 2021, the global sales of date sugar exceeded US$ 2,000 Mn by the end of the aforementioned period. The onset of COVID-19 pandemic affected various industries globally. But, on the other hand, the demand for date sugar increased as it is an immunity-booster ingredient. Thus, in the forthcoming forecast period, the sales of date sugar are expected to escalate.
Furthermore, the availability of dates in Middle East and Africa is increasing the demand for date sugar from other regions. Moreover, increasing usage of date sugar in desserts and sauces is positively influencing the sales of date sugar. Thus, due to the aforementioned reasons, demand for date sugar is expected to upsurge in the sales indicator period.
Key Takeaways from the Market Study
- By form, date syrups expected to garner US$ 50 Mn market share for date sugar.
- By sales channel, supermarkets/hypermarkets expected to hold more than 40% of market share for date sugar.
- Date sugar industry expected to possess nearly 45% market share throughout North America.
- Date sugar industry expected to register a CAGR of 5% throughout Middle East and Africa.
- Egypt, Iran, Algeria, Syria, Saudi Arabia, U.S and Canada are the top seven countries driving demand for date sugar.
“Immunity boosting qualities of date sugar along with its usage in desserts and sauces is expected to upsurge the sales of date sugar globally.” opines a Fact.MR analyst
- Naturalia Ingredients SRL offers date sugar is certified by Kosher and Halal and is 100% gluten free. The company is focusing on maintaining the purity of date sugar.
- Major companies operating in global date sugar market, Bob’s Red Mill Natural Foods, Date Lady, Naturalia Ingredients SRL, Now Foods, Barry Farms, Teeccino, Clarks U.K. Ltd., Chatfield’s Brands, and Glory Bee are major companies operating in global date sugar market.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global date sugar market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of form (Granules & Crystal, Powdered, Syrup/ Liquid), end use (industrial consumption and retail consumption), origin (organic and conventional), sales channel (direct procurement, retail sales) across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
Fact.MR’s Domain Knowledge in Food & Beverages
Our food and beverages consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the food and beverages sector. Our expertise in recognizing the challenges and trends impacting the global food and beverages industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
For more information, refer to our market research report or contact the PR author.
Nandini Roy Choudhury
Sr. Consultant – Food and Beverages