Consumption of date syrup as a natural sweetener in the food and beverage industry is rising rapidly. Manufacturers are likely to benefit from the growing date trade and rising consumer demand for nutritional products. Date syrup is used in the beverage industry as a preferred choice for natural ingredients.
Utilization of date syrup is also on the rise because to the growing popularity of home baking around the world. As a result, date syrup’s high functionality, nutritional content, and long shelf life are expected to propel the market forward.
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Increasing consumer inclination toward non-GMO and organic food products is driving manufacturers to offer organic products, which also includes date syrup. Various manufacturers such as Rapunzel Naturkost, and Al Barakah Dates Factory LLC are focused on providing organic date syrup to cater to growing consumer demand.
Numerous beverage manufacturers are also experimenting with date syrup in milk and alcoholic beverages to create novel drinks, and depending on the results, companies set to introduce new beverages in the market. Apart from alcoholic beverages, date syrup is expected to be widely used as a natural sweetener in non-alcoholic nutritious beverages such as fruit juices.
As per detailed industry analysis by Persistence Market Research, the global date syrup market is expected to expand at a CAGR of 6.2% over the forecasted period of 2022 to 2032.
Key Takeaways from Market Study
- The market for date syrup is anticipated to expand at CAGRs of 6.1% and 7.5% in countries of Oceania and Europe, respectively, through 2032.
- Market share of South Asia and East Asia is 9.1% and 5.2%, respectively, in 2022.
- The Middle East and African date syrup market is expected to reach 849,054 tons by the end of 2032.
- Usage of date syrup as a natural sweetener is increasing; based on nature, the organic segment is expected to expand at a CAGR of 7.4%.
- Although by end use the food & beverage industry holds the highest market share, the nutraceutical segment of date syrup is set to surge at a CAGR of 7.6%.
- The outbreak of COVID-19 disrupted the supply and value chain of date syrup. However, the market is expected to witness significant growth over the coming years with economies opening up.
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“Manufacturers of date syrup would be able to gain significant profits by targeting the food and beverage industry. The nutraceutical industry would also serve as a potential market for date syrup, which is attributable to growing demand for organic and natural nutraceutical products across the globe,” says a Persistence Market Research analyst.
Competitive Landscape
Key manufacturing companies of date syrup are majorly emphasizing on new product development programs to enhance the quality of their products and also increase their distribution and production facilities. Market players also participate in various exhibitions and events around the world to increase the awareness of their products.
- In March 2021, Date Lady announced plans to expand its production facility so as to provide the much-needed space and larger equipment to meet the ever-growing demand for its products.
- Lion Dates Impex Pvt. Ltd. continuously strives to innovate its product range to suite customers’ needs. The company was able to introduce seedless or deseeded dates in the Indian market due to its constant innovation activities.
Explore More Valuable Insights
Persistence Market Research, in its new report, offers an impartial analysis of the global date syrup market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
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The study offers compelling insights based on nature (organic, conventional), end use (food & beverage industry, cosmetics & personal care industry, foodservice industry, retail/household, others), and distribution channel (business to business, business to consumer), across seven major regions of the world.
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