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.
Consumer preference for clean label products and ingredients derived from natural sources for their food items will steer growth in the market. The same trend is driving sales of date syrup in nutraceutical and cosmetics industry.
Growing product knowledge has resulted in more awareness in consumers than ever before. Today, consumers are just not satisfied by choosing any food just because its label says “high quality”, but they intend to know its constituents and processing.
For instance, Arat Company Pjs, ensures strict compliance to BRC Grade AA, IFS, ISO 22000 Food Safety, Kosher, ISO 9001:2015, HACCP, ISIRI and Halal and includes nothing but dates and water for processing and producing its high quality dates syrup.
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Key Takeaways from the Date Syrup Market Study:
- Date syrup market is expected to total US$ 630 Mn by 2031.
- The Middle East and Africa (MEA) will emerge as the leading market, accounting for the lion’s share of date syrup sales. FMI has pegged the demand in MEA to grow by 5% CAGR.
- In North America, sales of date syrup will accelerate on account of surging demand from the U.S.
- Within Europe, Germany, France and the U.K. will spearhead sales of date syrup.
- Despite China’s dominance in East Asia, sales of date syrup will increase at a higher rate in Japan and South Korea.
Need for Stable Shelf-life Products Driving the Demand for Date Syrup
Work-centric lifestyles of dominating population has caused a major shift in demand for the type and properties of food products. People today are opting for food items that have extended seasonality, easy application, and multi-purpose for the sole reason of convenience, which these food products offer to the evolving consumers.
This has compelled several leading manufacturers to subsidize research and development to uncover more natural ways to keep food shelf-stable for an extended period of time.
Date syrup is no exception to this. The product itself is insured of seasonality as soon as it is produced. Even the syrup manufacturers with their innovation potentials, have developed syrups that do not even require the application of refrigeration to ensure slow degradation.
For instance, Ratinkhosh Co., provides a minimally processed dates syrup, which comes with a shelf-life of 2 years without the use of any type of preservatives or artificial ingredients.
Who is Winning?
Some of the leading companies offering date syrup 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, and Others.
Date Syrup Market by Category
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
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- MEA
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Key Questions Answered in the Report
What is the current date syrup market size?
The date syrup market is expected to total US$ 339 Mn in 2021.
What is the demand outlook for the date syrup market?
The date syrup market is expected to top US$ 630 Mn by 2031, exhibiting growth at 6.4% CAGR between 2021 and 2031.
At what rate did the demand for date syrup grow in the last five years?
The date syrup market registered 4.7% CAGR in terms of value between 2016 and 2020.
What is the North America date syrup market outlook?
The sales of date syrup will grow by 5.8% in North America.
Name some of the leading companies operating in the date syrup market.
- 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, and Date Lady among others are the leading market players.
What is the Japan and South Korea date syrup market outlook?
The Japan and South Korea date syrup markets are expected to register growth at 9.6% CAGR and 9.2% CAGR, respectively.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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