NEWARK, Del, June 11, 2023 (GLOBE NEWSWIRE) -- The date syrup market is estimated to secure a valuation of US$ 417 million in 2023 and is predicted to reach US$ 692.3 million by 2033. The market is anticipated to capture a CAGR of 5% during the forecast period.
Which Factors Drive the Global Market?
- Increasing Consumers Demand: The rising demand for high nutritional, antioxidant properties, and healthy alternatives is fueling the global market.
- Rising Health Awareness: The growing consumers' awareness of healthy lifestyles and reducing cardiovascular and other chronic diseases are increasing the demand for date syrup. Date syrup contains iron, potassium, fiber, and other minerals to maintain and improve wellness.
- Growing Vegan Population: The growing popularity of vegan diets, changing consumer preferences, and rising demand for plant-based syrup drive the global market. Consumers prefer organic products to maintain natural sweeteners without any toxicity.
- Expanding Food & Beverages Sector: The food & beverages sector is significantly expanding the global market by offering a variety of date syrup items. It includes baked goods, sauces, desserts, and cereals. Manufacturers are adding exotic flavors and natural ingredients to develop unique products.
- Shifting toward Ethnic Cuisines: Date syrup is a traditional dry fruit widely used in the meals of the Middle East and North Africa. The rising popularity of ethnic cuisines and unique flavors is driving global market revenue.
These are a few driving factors that are flourishing the global market during the forecast period.
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Key Takeaways:
The date syrup market is estimated to register a CAGR of 5% with a valuation of US$ 692.3 million by 2033.
- The United States is anticipated to secure a maximum share of 13% during the forecast period.
- Germany is capturing a significant share of 8.9% of the global market by 2033.
- In the historic period, the market registered a valuation of US$ 401 million in 2022 with a CAGR of 5.2%.
- The food & beverage sector is leading the global market by capturing a share of 38% by 2033.
How are Key Players Bringing Notable Growth in the Global Market?
The market is highly competitive by several key players that invest highly in research and development activities. These players invest their million-dollar amount in developing improved and exotic flavor date syrup to attract consumers' taste and desire. They focus on organic and sustainable products to maintain a healthy lifestyle.
The key players adopting various marketing tactics to uplift the global market are mergers, agreements, partnerships, and product launches. These players are estimated to continue to drive the market through their innovations, investments, and sustainability to another height by 2033.
Recent Developments in the Global Market:
- The United States-based company, Date Lady develops eco-friendly and vegan-friendly organic date syrup. The company innovated a variety of flavors of date syrup to attract its customers and customize them according to their preferences.
- Bascom Family Farms focus on producing organic syrup. They offer natural sweeteners and other data products to their consumers. The company invests in research activities to develop exotic food items to expand its market portfolio.
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Who is Winning?
- 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
Key Segmentation:
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
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Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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