The date syrup market is estimated to capture a valuation of US$ 417 million in 2023 and is projected to reach US$ 692.3 million by 2033. The market is estimated to secure a CAGR of 5% from 2023 to 2033.
The market particularly gains from the surging application of date syrup in the Middle East and Africa’s nutraceutical and food service industries. Besides this, demand in South Asia is expected to increase at an accelerated pace over the forecast period.
Increasing Demand for Natural Sweeteners Bolstering Date Syrup Sales
As a natural sweetener, date syrup offers tough competition to conventional sugarcane-derived sugar. Consumers’ interest in consuming natural sweeteners has grown significantly in recent times. It is due to the dismissal of artificial food additives and the increasing awareness about health issues resulting from high sugar intake.
Date syrup is the most qualified sweetener, with considerable antioxidants, vitamins, and minerals. Furthermore, the glycemic index for date syrup is the second least compared to maple syrup, honey, agave, and sugar. All these properties associated with date syrup make it a worthy and effective natural substitute for sugar.
The health benefits of date syrup, such as control of heart disease, diabetes, fatty liver, and body hydration, make it a product worthy of global acceptance. According to the World Health Organization (WHO), around 422 million people worldwide have diabetes, and diabetes is directly responsible for 1.6 million fatalities annually.
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How are Government Policies Supporting the Growth of the Dates Syrup Market?
Dates and date-based items have been named one of the 50 thrust products with great potential for revenue recognition in international commerce by Ithraa. Growers, processors, the country, exporters, and other stakeholders profited from government programs.
Dates are extremely competitive in India’s market, but Oman is the only country that does not have a specific quality label or Geographical Indications (GI) established in the palm date sector, according to a report by the United Nations Conference on Trade and Development (UNCTAD).
Date Syrup Market, 2018 to 2022 Historical Sales, Compared to 2023 to 2033 Future Outlook
As per Future Market Insights (FMI), the global date syrup market grew at a steady CAGR of 5.2% between 2018 and 2022. The market captured a valuation of US$ 326.8 million in 2018 and US$ 401 million in 2022.
Date syrup has found various uses in different industries over the years, including the food & beverages industry, nutraceutical, skincare & cosmetics, food service industry, retail/ household sector, and others. For instance, in the food & beverages industry, it is widely used as a natural sweetener and a flavor additive. Moreover, due to its health benefits, date syrup also has found uses in the nutraceutical industry as a tablet binder.
Date syrup is also considered a good alternative to honey in the 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 and the popularity of the dates from which it is produced.
In the food and beverage industry, date syrup can be effectively used in bakeries, and confectionary applications, such as in making cakes, chocolates, cookies, etc. It is also used 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.
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Competitive Landscape
The key date syrup manufacturers are positioned to offer their syrup in various end-use industries. Manufacturers offer food & beverages, nutraceutical, cosmetics & personal care industry products, etc.
A strong focus is on the supply chain to ensure the availability of raw materials. Manufacturers strategically place their facilities in high-date production areas to ensure constant supply and cost-cutting in logistics. The manufacturer also focuses on increasing production capacity to fulfill the demands.
Companies operating in the global market offer products in different quality grades. It has enabled the manufacturers to fetch new customers from the food service and food & beverages industry. Depending upon the customer’s need, the product can be provided.
Other Prominent Players Operating in the Global 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, Date Lady, Others.
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.
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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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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