Portland, OR, Sept. 01, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, 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. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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.
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COVID-19 scenario:
- The outbreak of the COVID-19 pandemic has led to temporary closure of production facilities of date syrup across the globe.
- The pandemic has further disrupted the supply chain due to which the manufacturers faced a lot of challenges to deliver finished goods to supermarkets or hypermarkets.
The report offers detailed segmentation of the global date syrup market based on nature, end user, distribution channel, and region.
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.
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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.
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.
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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.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
