An increase in demand for date syrup from diabetics and massive use of date syrup in the commercial sector boost the global date syrup market growth.
Allied Market Research published a research report on the global date syrup market. The findings of the report state that the global market for date syrup 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. The report offers valuable information on changing market trends, key segments, key investment pockets, and the competitive landscape for market players, shareholders, investors, and new entrants.
The report offers an extensive analysis of drivers, restraints, and opportunities to help market players in determining strategies based on driving forces and tap into new opportunities. An increase in demand for date syrup from diabetics and massive use of date syrup in the commercial sector boost the global date syrup market growth. Nevertheless, the easy availability of alternate products such as corn syrup, honey, maple syrup, molasses, chocolate syrup, agave nectar, and coconut sugar can halt the growth of the global market. Massive awareness about the health benefits of date syrup will open new growth opportunities for the global market over the years ahead.
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The research provides detailed insights regarding the Covid-19 pandemic along with its impact on the date syrup market across the globe. Moreover, the COVID-19 pandemic severely affected the growth of the global date syrup market due to the temporary lockdown of manufacturing units. Furthermore, the pandemic disrupted supply chain activities owing to which manufacturers faced an uphill task of providing the finished goods to hypermarkets.
The report offers an extensive analysis of segments of the global date syrup market based on nature, end user, distribution channel, and region. Based on nature, the conventional date syrup segment held the highest market share in 2020, accounting for more than four-fifths of the global market share in 2020. Furthermore, the segment is anticipated to continue its domination during the forecast timeline. However, the organic date syrup segment is set to record the fastest CAGR of 6.2% from 2021 to 2028.
On basis of end user, the commercial segment held the highest market share in 2020, contributing approximately three-fifths of the overall market share in 2020. The segment is anticipated to continue its domination over the coming eight years. However, the residential segment is set to record the fastest CAGR of 4.8% from 2021 to 2028.
Region-wise, the European continent contributed to the highest share of the global date syrup market in terms of revenue in 2020, accounting for two-fifths of the overall market share, and is estimated to continue its domination by 2028. However, the Asia-Pacific date syrup market is projected to manifest the fastest CAGR of 6.0% during the forecast period.
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Major players profiled in the global date syrup market analyzed in the report include Lion Dates Impex Pvt Ltd., Ario Co, Al Foah, Galil Foods, Ratinkhosh Co., Hain Celestial Group(Clarks UK Ltd), Belazu Ingredient Company, Arat Company PJS., Just Date Syrup, and Sahara Dates.
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