Date Syrup Market Expected to Reach 361.3 million by 2028-Allied Market Research

According to a new report published by Allied Market Research, titled, “Global Date Syrup Market by Nature, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2028,”

The global date syrup market Size was valued at $361.3 million in 2020, and is estimated to reach $514.3 million by 2028, registering a CAGR of 4.2% from 2021 to 2028. The conventional segment leads in terms of market share and is likely to retain its dominance throughout the forecast period.

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.

The rapid spread of the coronavirus has disrupted the supply chain of the date syrup market, owing to which the companies faced a minor downfall in the initial phase of the COVID-19 pandemic, but soon they managed to maintain the availability of their products in different supply channels of the market.

The date syrup market is segmented into nature, end user, distribution channel, and region. On the basis of nature, the market is categorized into organic date syrup and conventional date syrup. On the basis of end user, the market is bifurcated into commercial and residential. On the basis of distribution channel, it is fragmented into supermarket/hypermarket, specialty stores, online sales channel and business to business. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).

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.

The players operating in the global date syrup market have adopted various developmental strategies including but not limited to product launch, geographical expansion and acquisitions to increase their market share, gain profitability, and remain competitive in the market. The key players operating in the date syrup market 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.