Date Sugar Industry Expected To Possess Nearly 45% Market Share throughout North America: Fact.MR
Fact.MR
forecasts that global date sugar sales will exceed US$ 2,960 Mn in the
assessment period 2022-2032, with a CAGR of 4%. Date sugar is being used in
everyday foods and beverages by consumers as a perfect alternative for cane
sugar. Furthermore, the antimicrobial qualities of date sugar are contributing
to the rising demand for the product.
Historically,
by the conclusion of the five-year period from 2017 to 2021, global sales of date sugar had surpassed US$ 2,000 Mn. The global
impact of the COVID-19 pandemic was felt across several industries. Date sugar,
on the other hand, has grown in popularity as an immune-boosting component.
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Furthermore,
the availability of dates in Middle East and Africa is increasing the demand
for date sugar from other regions. Moreover, increasing usage of date sugar in
desserts and sauces is positively influencing the sales of date sugar. Thus,
due to the aforementioned reasons, demand for date sugar is expected to upsurge
in the sales indicator period.
Key Takeaways from the Market Study
- By form, date syrups expected to
garner US$ 50 Mn market share for date sugar.
- By sales channel,
supermarkets/hypermarkets expected to hold more than 40% of market share
for date sugar.
- Date sugar industry expected to
possess nearly 45% market share throughout North America.
- Date sugar industry expected to
register a CAGR of 5% throughout Middle East and Africa.
- Egypt, Iran, Algeria, Syria, Saudi
Arabia, U.S and Canada are the top seven countries driving demand for date
sugar.
“Immunity
boosting qualities of date sugar along with its usage in desserts and sauces is
expected to upsurge the sales of date sugar globally.” opines a Fact.MR analyst
Competitive Landscape
- Naturalia Ingredients SRL offers
date sugar is certified by Kosher and Halal and is 100% gluten free. The
company is focusing on maintaining the purity of date sugar.
- Major companies operating in global
date sugar market, Bob’s Red Mill Natural Foods, Date Lady, Naturalia
Ingredients SRL, Now Foods, Barry Farms, Teeccino, Clarks U.K. Ltd.,
Chatfield’s Brands, and Glory Bee are major companies operating in global
date sugar market.
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Key Segments Covered
- By
Form :
- Date Granules &
Crystal
- Powdered Date Sugar
- Date Syrup/ Liquid
- By
End Use :
- Date Sugar for Industrial
Consumption
- Date Sugar for Food
Production
- Bakery
- Confectionery
- Snacks
- Dressings and
Condiments
- Sauces and Spreads
- Date Sugar for Beverage
Industry
- Retail Date Sugar
Consumption
- By
Origin :
- Organic Date Sugar
- Conventional Date Sugar
- By
Sales Channel :
- Direct Procurement of Date
Sugar
- Retail Sales of Date Sugar
- Hypermarkets /
Supermarkets
- Discount Stores
- Specialty Grocery Stores
- Traditional Grocery
Stores
- Online Retail
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Dates being
native to Middle-East and African countries including Egypt, Iran, Algeria,
Syria, Saudi Arabia and Iraq, are consumed in these regions in large
quantities. Moreover, the availability of dates in abundance in this region has
positively influenced the usage of dates in various products. This, in turn,
has increased the demand for date sugar. Furthermore, owing to low date sugar
prices in Middle-East and Africa, its market value is significantly lower as
compared to other regions.
With the
growing per capita date sugar consumption in MEA, the region is expected to
evolve as the largest date sugar market in terms of volume, by mid-term
forecast. While global date sugar demand is expected to grow at a CAGR of 4%
during 2022-2032, for MEA, it is projected to witness over 5% growth.
* This article was originally published here
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