Date Syrup Market

Date Syrup Market Size, Growth, Forecast (2023-2028)

The Global Date Syrup Market size is estimated to grow from US$361.4 million in 2022 to US$ 514.4 million by the end of 2028, expanding at a CAGR of 4.3% during 2023 and 2028.

Global Date Syrup Market Scenario:

The Global Date Syrup Market is anticipated to have the highest market revenue due to the increasing consumption of date syrup in the commercial sector. The process of boiling dates in water and the residue formed is nothing but the date syrup. Date syrup is sweet, delicious, and also healthy. Most of the global population replace date syrup with sugar in coffee, tea, and others. Dates syrup comprises many minerals, including zinc, magnesium, calcium, iron, and sugar. Date syrup can be drizzled over a bowl of ice cream, French toast, sandwiches, pancakes, oatmeal, and yogurt. Owing to these characteristics, the global date syrup market growth would increase in the upcoming years. 

REPORT COVERAGE:

Date Syrup Market Drivers:

The increasing consumption of date syrup in the commercial sector is one of the major factors driving the date syrup market growth. Date syrups are efficient in combating numerous diseases. These are proved better than sugar. Therefore, most diabetic patients were attracted to the date syrup, which led the global date syrup market to increase its size and share during the foreseen period. According to the analysis of specialists, the number of diabetes patients was increasing globally daily. It is reviewed that almost 400 million people have diabetes. This case would continue to grow in the next six years since date syrup is clinically proved better than sugar, attracting most of the patients who have diabetes and helps in increasing the global date syrup market growth.

Date Syrup Market Restraints:

The availability of different products, including maple syrup, chocolate syrup, corn syrup, coconut sugar, molasses, honey, and many more, were in demand to slow down the growth of the global date syrup market. However, one of the most commonly used and popular is maple syrup due to its natural sweetness obtained from the maple tree. Therefore, the consumption of maple syrup is more among the population. Thus, slowing down the market share of global date syrup during the forecast period.

Recent Developments in the Date Syrup Market:

Lion Dates Impex Pvt Ltd. has introduced the date syrup is prepared from the machine without adding any preservatives. Thus making the nutrients retained in the date syrup. It is being extracted from pure dates to keep the fiber content of dates intact.

Challenges in the Date Syrup Market:

Major substitutes for syrups were made available in the market. Also, less product knowledge and awareness among the customers are the significant challenges hampering the growth of the global date syrup market.

Date Syrup Market Segmentation:

By Nature:

• Conventional date syrup
• Organic date syrup

Based on nature, the date syrup market is segmented into conventional date syrup and organic date syrup. Besides organic date syrup, traditional syrup of date tends to hold the highest global date syrup market share due to its heavy production and availability in the market. In addition, conventional date syrup is used by most women to regulate high blood pressure and has a good concentration of sugar. Therefore, the traditional date syrup segment drives the global date syrup market growth.

By End User:

• Residential
• Commercial

Based on end-user, the date syrup market is segmented into residential and commercial. The commercial segment plays a significant key role in holding the largest date syrup market share and is yet to continue its dominance in the upcoming years due to the growing number of bakeries and the food sector.

By Distribution Channel:

• Specialty stores
• Supermarkets/Hypermarkets
• Business to business
• Online sales channels

The date syrup market is categorized into specialty stores, supermarkets/hypermarkets, business & business, and online sales channels based on the distribution channel. Among these, the business-to-business sector tends to hold the most significant global date syrup market share during the forecast period due to consumers' increasing demand for date syrup. Thus, the growing consumption drives the segment to play a dominant role in the global date syrup market.

Global Date Syrup Market Regional Analysis:

The Global Date Syrup Market Report includes the segmentation of Regions:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Europe predominantly holds the highest Global Date Syrup market share due to the increasing awareness regarding health among consumers. In addition, most of Europe's population relies primarily on a healthy diet, thus driving the dominant region of the Europe Date Syrup market. Moreover, the Asia Pacific region holds the highest CAGR during the forecast period. This is due to consumers' increasing number of health complications, thus driving the Asia Pacific Date Syrup Market to hold the highest CAGR. At the same time, owing to the changing lifestyle, North America Date Syrup Market tend to have a steady CAGR shortly, and the Middle East & Africa Date Syrup Market tend to grow with a significant CAGR respectively during the forecast period owing to the increasing number of population concentrating on health in the Middle East and Africa.

Impact of COVID-19 on Global Date Syrup Market:

COVID-19 is an infectious disease that was attacked in the year 2020. It has made the government impose lockdown all around the world. Most of the people were suffered from COVID-19, and some survived, and some lost their lives. The industrial sector has seen a massive loss due to lockdown and the stock left in the garage. Similarly, the Global Date syrup market has experienced a slight increase in its growth since most people concentrated on health. The market experienced profit and is yet to continue after COVID.

Date Syrup Market Key Players:

Major Key Players in the Global Date Syrup Market are

• Lion Dates Impex Pvt Ltd.
• Al Foah,
• Hain Celestial Group
• Belazu Ingredient Company
• Galil Foods
• Arat Company PJS.
• Ratinkhosh Co.
• Ario Co
• Sahara Dates