Demand for date syrup is expected to reach US$ 339.0 Mn in 2021, according to the latest Future Market Insights (FMI) study. The market value is expected to surpass US$ 630.0 Mn by 2031, exhibiting growth at healthy CAGR of 6.4% for 2021-31.
The market will particularly gain from the surging application of date syrup in nutraceutical and food service industries in the Middle East and Africa. Besides this, demand in South Asia is expected to increase at an accelerated pace over the forecast period.
Date syrup is also considered as a good alternative to honey in skincare and cosmetics industry for skin lightening due to its appealing constancy. Various industries are utilizing this product owing to the health benefits and natural occurrence along with the popularity of dates from which it is produced.
In food and beverage industry, the date syrup can be effectively used in bakery, confectionary applications such as in making cakes, chocolates, cookies etc., in dairy & desserts for producing flavored milk, ice creams, sweets & desserts such as dates halwa and others..In snacks & cereals it is used as a spread. As per FMI, the market is predicted to grow at a CAGR of 6.4% between 2021 and 2031.
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Date syrups are extensively used as an alternative to honey in various skincare and cosmetics products for its moisturizing and skin lightening properties and smooth constancy. In addition to this, growing use of date syrup in the nutraceutical industry is expected to improve the sales over the forecast period.
Date syrup has attributes such as high magnesium, zinc, potassium, calcium, and iron content. These properties make it ideal for application in various skincare and food products. FMI also forecasts the demand for date syrups to be the highest in the Middle East and Africa, while sales across the globe is forecast to reach US$ 339 Mn in 2021.
“Growing consumption of plant-based and clean label products with no added artificial flavors, preservatives, or sweeteners in food and personal care industry is expected to accelerate the sales of date syrup over the coming years,” says the FMI analyst.
Key Takeaways from the Date Syrup Market Study
- The U.S. is estimated to witness the fastest growth in North America, expanding at a CAGR of 6.7% over the assessment period.
- Favored by the increasing demand for date and date products, sales of date syrup in GCC countries are expected to rise at a CAGR of 6.5% by 2031-end.
- South Korea and Japan date syrup markets are projected to exhibit growth at 9.2% CAGR and 9.6% CAGR, respectively between 2021 and 2031.
- Among the nature, organic date syrups are anticipated to account for a substantial revenue share in the segment, surging at 7.6% CAGR through 2031.
- On the basis of distribution channel, sales through online retail are forecast to spur at 8.6% CAGR in 2021.
Key Drivers
- Increasing consumption for dates and products derived from dates in countries such as the UAE, Yemen, Pakistan, India, and others is propelling the demand for date syrup.
- Rising demand for date syrups as natural sweeteners owing to their health benefits such as control on diabetes, body hydration, heart disease, and fatty liver is spurring sales.
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Key Restraints
- High cost of date syrup-based natural sweeteners compared to artificial sweeteners is expected to hamper the sales.
- Availability of several substitutes of date syrup such as maple syrup, coconut sugar, honey, corn syrup, and others might hinder the product sales.
Competitive Landscape
Leading date syrup manufacturers are focusing on strengthening their supply chain and receiving various certifications such as Halal, ISO 22000 Food Safety, Kosher and others to increase their sales across various end use industries.
Also some of the companies are offering products with different quality grades. For instance,
- Arat Company Pjs, a leading Iranain company, ensures strict compliance to IFS, ISO 22000 Food Safety, BRC Grade AA, Kosher, Halal, HACCP, ISO 9001:2015, and ISIRI manufacturing high quality dates syrup including nothing but water and dates.
- Ratin Khosh Co., a food processing company based in Iran, provides a minimally processed dates syrup without using of any type of artificial ingredients or preservatives which comes with a shelf-life of 02 years.
Some of the key players operating in the market profiled by FMI are:
- Al Foah
- Malabar Food Products
- Just Dates Syrup
- Ario Co
- Sun Seas Business Group
- BIONA
- Parsunday Symbol Co.
- BOMBUS
- Rapunzel Naturkost
- D’VASH Organics
- Ratinkhosh Co
- EZEEBEE OVERSEAS PVT LTD
- Lion Dates Impex Pvt. Ltd.
- Ambrosia Delicatessen
- ARAT COMPANY PJS
- Minoo Industrial Group
- Emirates Dates
- Date Lady
- Others
More Valuable Insights on Date Syrup Market
The date syrup market study published by Future Market Insights offers a comprehensive analysis and focused views on the major trends expected to shape future growth prospects. The report provides detailed analysis on growth drivers, trends, and opportunities on the basis of:
By Nature:
- Organic
- Conventional
By End Use:
- Food & Beverage Industry
- Bakery & Confectionery
- Dairy & Desserts
- Snacks & Cereals
- Beverages
- Others
- Nutraceuticals
- Cosmetics and Personal Care Industry
- Foodservice Industry
- Retail/ Household
- Others
By Distribution Channel:
- Business to Business
- Business to Consumers
- Hypermarkets/ Supermarkets
- Specialty Stores
- Convenience Stores
- Online Retail
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Key Questions Covered in the Report
- The report offers insight into date syrup market demand outlook for the forecast period 2021-2031
- The market study also highlights projected sales growth for date syrup market between 2021 and 2031
- Date syrup market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Date syrup market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others