The date syrup market is projected to be valued at USD 417 million in 2023 and is expected to grow to USD 692.3 million by 2033, reflecting a compound annual growth rate (CAGR) of 5% during this period.
This growth is driven by the increasing use of date syrup in the nutraceutical and food service industries in the Middle East and Africa. Additionally, demand in South Asia is anticipated to rise rapidly over the forecast period.
Which Factors Drive the Global Market?
- Increasing Consumers Demand: The rising demand for high nutritional, antioxidant properties, and healthy alternatives is fueling the global market.
- Rising Health Awareness: The growing consumers’ awareness of healthy lifestyles and reducing cardiovascular and other chronic diseases are increasing the demand for date syrup. Date syrup contains iron, potassium, fiber, and other minerals to maintain and improve wellness.
- Growing Vegan Population: The growing popularity of vegan diets, changing consumer preferences, and rising demand for plant-based syrup drive the global market. Consumers prefer organic products to maintain natural sweeteners without any toxicity.
- Expanding Food & Beverages Sector: The food & beverages sector is significantly expanding the global market by offering a variety of date syrup items. It includes baked goods, sauces, desserts, and cereals. Manufacturers are adding exotic flavors and natural ingredients to develop unique products.
- Shifting toward Ethnic Cuisines: Date syrup is a traditional dry fruit widely used in the meals of the Middle East and North Africa. The rising popularity of ethnic cuisines and unique flavors is driving global market revenue.
These are a few driving factors that are flourishing the global market during the forecast period.
Key Takeaways:
The date syrup market is estimated to register a CAGR of 5% with a valuation of US$ 692.3 million by 2033.
- The United States is anticipated to secure a maximum share of 13% during the forecast period.
- Germany is capturing a significant share of 8.9% of the global market by 2033.
- In the historic period, the market registered a valuation of US$ 401 million in 2022 with a CAGR of 5.2%.
- The food & beverage sector is leading the global market by capturing a share of 38% by 2033.
Competitive Landscape
Leading date syrup manufacturers are well-positioned to supply their products across a range of industries, including food & beverages, nutraceuticals, and cosmetics & personal care.
A significant emphasis is placed on optimizing the supply chain to secure a steady availability of raw materials. Manufacturers strategically locate their facilities in major date production regions to maintain a reliable supply and reduce logistics costs. Additionally, they are focused on expanding production capacity to meet growing demand.
Global companies offer products in various quality grades, allowing them to attract new customers in the food service and food & beverages sectors. Products can be tailored to meet specific customer needs.
Recent Developments in the Global Market
- AI Foah, a United Arab Emirates-based company is a large producer of dates in the globe. The company offers a variety of date products such as chocolates, date syrup, and others.
- Bascom Family Farms announced its organic maple syrup with natural sweetener. They produce eco-friendly and vegan-friendly products for their customers.
Key Players
- 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
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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
- Asia Pacific
- The Middle East and Africa
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