Date Syrup Market Projected To Reach 514.3 Million: Al Foah, Galil Foods, Hain Celestial Group

The global date syrup market generated $361.3 million in 2020, and is projected to reach $514.3 million by 2028, witnessing a CAGR of 4.2% from 2021 to 2028.

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Rise in consumption of date syrup in the commercial sector and preference for date syrup among diabetes patients drive the growth of the global date syrup market. However, multiple substitute availability and low product knowledge among the customers restrain the market to some extent. On the other hand, production of organic date syrup and modernized packaging & processing present new opportunities in the upcoming years.

One of the leading factorswhich influences the market growth include rise in date syrup and other dates byproducts demand in the market is due to its efficiency in combating multiple diseases. Date syrup has been consumed in many countries and is efficient in obliging in intestinal disorders, cancer, anemia, constipation, bone health, allergies, heart health, bacterial infections, night blindness, intoxication, sexual disorders, and other ailments. Health benefits of date syrup also include prevention of the bacterial growth which is faster than manuka honey in date syrup, and also is known for having different antibacterial properties which is majorly used in dressings to improve wound repair. Furthermore, this syrup contains some essential minerals such as potassium, magnesium, copper, manganese, and iron. Potassium is an essential mineral found in dates syrup, and potassium has a very important role in regulating blood pressure levels and keeping the heart beating properly. Magnesium is another essential mineral and it is known for its anti-inflammatory properties, which can reduce the risk of serious diseases such as cardiovascular disease, arthritis, strokes, and Alzheimer's disease. Therefore, rise in health consciousness propels the growth of the date syrup market.

Leading players of the global date syrup market analyzed in the research include Lion Dates Impex Pvt Ltd., Al Foah, Galil Foods, Hain Celestial Group(Clarks UK Ltd), Belazu Ingredient Company., Just Date Syrup, Arat Company PJS., Ratinkhosh Co., Ario Co, and Sahara Dates.

The report offers detailed segmentation of the global date syrup market based on nature, end user, distribution channel, and region.

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Based on nature, the commercial segment held the highest market share in 2020, holding more than four-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the organic segment is estimated to register the highest CAGR of 6.2% from 2021 to 2028.

Based on end user, the commercial segment held the largest market share in 2020, holding nearly three-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the residential segment is projected to register the highest CAGR of 4.8% from 2021 to 2028.

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Based on region, the global date syrup market across Europe contributed to the highest share in terms of revenue in 2020, holding two-fifths of the total market share, and is estimated to continue its dominant share by 2028. However, Asia-Pacific is projected to manifest the fastest CAGR of 6.0% during the forecast period.

Key findings of the study

By nature,the conventional segmentled in terms of the market share in 2020. However, the organic segment is the fastest-growing segment during the forecast period.
By end user, the commercial segment accounts for about three-fifths of the market share. However, the residential segment is expected to gain traction during the forecast period.
The Europe region dominates the global market and Asia-Pacific region is expected to grow with the highest CAGR during the forecast period.
By distribution channel, the business to businesssegment is holding more than half of the market share. However, the online sales channel segment is anticipated to gain traction during the forecast period.
Demand for organic date syrup is anticipated to rise in near future with the increase in awareness regarding the health benefits of date syrup.
Key players are launching date syrup with smart different packaging styles to provide ease to the consumers in consuming date syrup.

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