The date syrup market is estimated to capture a valuation of USD 417 million in 2023 and is projected to reach USD 692.3 million by 2033. The market is estimated to secure a CAGR of 5% from 2023 to 2033.
The market particularly gains from the surging application of date syrup in the Middle East and Africa's nutraceutical and food service industries. Besides this, demand in South Asia is expected to increase at an accelerated pace over the forecast period.
| Attribute | Details |
|---|---|
| Market CAGR (2023 to 2033) | 5% |
| Market Valuation (2023) | USD 417 million |
| Market Valuation (2033) | USD 692.3 million |
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As a natural sweetener, date syrup offers tough competition to conventional sugarcane-derived sugar. Consumers' interest in consuming natural sweeteners has grown significantly in recent times. It is due to the dismissal of artificial food additives and the increasing awareness about health issues resulting from high sugar intake.
Date syrup is the most qualified sweetener, with considerable antioxidants, vitamins, and minerals. Furthermore, the glycemic index for date syrup is the second least compared to maple syrup, honey, agave, and sugar. All these properties associated with date syrup make it a worthy and effective natural substitute for sugar.
The health benefits of date syrup, such as control of heart disease, diabetes, fatty liver, and body hydration, make it a product worthy of global acceptance. According to the World Health Organization (WHO), around 422 million people worldwide have diabetes, and diabetes is directly responsible for 1.6 million fatalities annually.
Date syrup is a direct product of the hydrated deseeded form of dates and contains all the nutritious elements in the fruit. Carbohydrates (glucose, fructose, and sucrose) are the principal chemical constituents of the syrup, with a modest amount of cellulose and starch. It includes protein which can range from 1% to 7%, and amino acids.
The fat content is low, hovering at 0.1% to 0.5%, with plenty of antioxidants, minerals, and vitamins. The amount of date syrup that can be extracted from the fruit is determined by the crude fiber in the fruit, which is minimized during extraction to achieve maximum syrup.
Date syrup is popular among athletes and fitness professionals because of its nutritional value. Athletes have been gradually consuming dates and their derivatives in the form of nutritional drinks, milk sweeteners, protein bars, and other goods.
Dates and date-based items have been named one of the 50 thrust products with great potential for revenue recognition in international commerce by Ithraa. Growers, processors, the country, exporters, and other stakeholders profited from government programs.
Dates are extremely competitive in India’s market, but Oman is the only country that does not have a specific quality label or Geographical Indications (GI) established in the palm date sector, according to a report by the United Nations Conference on Trade and Development (UNCTAD).
As per Future Market Insights (FMI), the global date syrup market grew at a steady CAGR of 5.2% between 2018 and 2022. The market captured a valuation of USD 326.8 million in 2018 and USD 401 million in 2022.
Date syrup has found various uses in different industries over the years, including the food & beverages industry, nutraceutical, skincare & cosmetics, food service industry, retail/ household sector, and others.
For instance, in the food & beverages industry, it is widely used as a natural sweetener and a flavor additive. Moreover, due to its health benefits, date syrup also has found uses in the nutraceutical industry as a tablet binder.
Date syrup is also considered a good alternative to honey in the skincare and cosmetics industry for skin lightening due to its appealing constancy. Various industries are utilizing this product owing to the health benefits and natural occurrence and the popularity of the dates from which it is produced.
In the food and beverage industry, date syrup can be effectively used in bakeries, and confectionary applications, such as in making cakes, chocolates, cookies, etc. It is also used in dairy & desserts for producing flavored milk, ice creams, sweets & desserts such as dates halwa, and others. In snacks & cereals, it is used as a spread.
Organic date syrup is expected to register healthy growth at 7.6% CAGR over the assessment period. Food grown organically without the use of chemical substances and using primitive farming techniques delivers not only a better taste but also a high nutrition concentration with minimum adulteration.
According to the USA Department of Agriculture's Economic Research Service, consumer demand for organically produced goods continues to grow by double digits. In turn, it results in the availability of these products in 20,000 natural food stores and three out of four conventional grocery stores across the country.
Many manufacturers offering date syrups, including Al Barakah Dates Factory LLC, Rapunzel Naturkost, and others, are focused on providing organic date syrup.
The food & beverages sector dominates the global market by capturing 38% of the market share, registering growth at 6.2% CAGR over the forecast period.
With rising consumer demand for new and varied beverages, including both alcoholic and non-alcoholic beverages, the global beverage business has seen enormous expansion. With a growing population and diverse client tastes, the sector is increasing significantly, which presents date syrup with promising market growth prospects, given its versatility in both types of beverages.
Many beverage makers are experimenting with date syrup in milk and alcoholic beverages to create novel drinks, and depending on the results, new beverage items are introduced on the market. For instance, Parsunday Symbol Co. claims its date syrup is used to produce high-quality alcoholic beverages and vinegar.
According to the latest report, online retail is forecasted to expand at a CAGR of 8.6% in 2023. Due to the rise of convenience-based apps and the gig economy, online grocery shopping is popular.
Consumers' desire to avoid public places, government directives to stay at home, and the ongoing need for groceries and basic commodities have made online grocery delivery services from Walmart, Amazon, and Target indispensable.
As a result, online grocers have done a great job of meeting demand during the pandemic, which plays a big part in determining how much date syrup is sold online after the outbreak.
| Countries | Current Market Share 2023 |
|---|---|
| The United States | 13% |
| Germany | 8.9% |
| Japan | 0.6% |
| Australia | 0.2% |
| Countries | Current Market CAGR 2023 |
|---|---|
| China | 3.4% |
| India | 5.6% |
| The United Kingdom | 6.8% |
The United States date syrup market is projected to register a share of 13% during the forecast period. In the United States, there has been a decrease in demand and consumption of genetically modified organisms (GMOs) is there over the last few years.
People are aware and dependent on supplying their bodies with the appropriate kind of nourishment due to work-centric lifestyles, which are devoid of any concentration of impurity.
Non-GMO products are also promoted by the World Health Organization (WHO) and the Food and Agriculture Organization (FAO). The demand for non-GMO foods has risen as a result. Many date syrup producers also make it a point to use, only non-GMO dates to process and produce date syrup. Ario Co and Ratinkhosh Co. only source non-GMO dates for producing dates syrup.
According to FMI's analysis, GCC Countries are forecasted to expand at a CAGR of 6.5%. Every year in the holy month of Ramadan, dates and date-based product consumption grow high than at any other time. Its derived products, considered sacred in Islamic culture, are the first to be consumed daily after the fast.
The amount of natural sugar in date syrup provides instant energy and a feeling of the full gut for a long period. It has resulted in a significant increase in fruit demand during this year's season, as many processed date products are becoming common on shop shelves compared to contemporary syrups and jams. For instance,
Al Barakah Dates Factory LLC, which is among the large dates processor in the United Arab Emirates, has mentioned in a report that it has observed a tremendous increase in demand for dates and its derived products during Ramadan. The demand is there even after the imposition of lockdown with restrictions in the United Arab Emirates.
According to the latest report, the date syrup market of the rest of Middle East Asia is estimated to be over USD 160 million in 2023.
Date syrup is promoted as a healthy and natural alternative although it is expensive as compared to brown sugar. Date syrup, often known as date honey or date molasses, is a thick, dark, sweet fruit syrup prepared from dates. It is frequently used for cooking in North Africa and the Middle East.
A versatile natural sweetener of date syrup can replace molasses, sugar, or syrup. Date syrup can benefit from bread, cakes, muffins, biscuits, fruit bars, and desserts. Dates are high in vitamins, potassium, and fiber.
In the food sector, date syrup can make distinctive liquid products such as juice blends, yogurt drinks, and other beverages. It is also utilized to ferment sweet syrup liquid/pulp in wines, spirits, and vinegar.
The key date syrup manufacturers are positioned to offer their syrup in various end-use industries. Manufacturers offer food & beverages, nutraceutical, cosmetics & personal care industry products, etc.
A strong focus is on the supply chain to ensure the availability of raw materials. Manufacturers strategically place their facilities in high-date production areas to ensure constant supply and cost-cutting in logistics. The manufacturer also focuses on increasing production capacity to fulfill the demands.
Companies operating in the global market offer products in different quality grades. It has enabled the manufacturers to fetch new customers from the food service and food & beverages industry. Depending upon the customer's need, the product can be provided.
Other Prominent Players Operating in the Global Market
Recent Developments in the Global Market
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | The United States, The United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered | Nature, End Use, Distribution Channel, Region |
| Key Companies Profiled | 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 |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is expected to secure a valuation of USD 417.0 million in 2023.
Al Foah, Malabar Food Products, and Just Dates Syrup are the essential market players.
The market registered a CAGR of 5.2% From 2018 to 2022,
Increasing food & beverage sector to boost the market prospects.
The growth potential of the date syrup market is 5.0% through 2033.
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Date Syrup Market
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