While the volume sales of date sugar in syrup/ liquid form is expected to rise at a swift pace, in terms of market value, powdered sugar segment is expected to witness a faster growth, owing to higher pricing of the latter.
Rockville, United States – December 10, 2019 /MarketersMedia/ —
North America and Middle-East and Africa (MEA) are two of the largest date sugar manufacturing regions. In 2018, Europe was the largest consumer of date sugar, though the market growth in Middle-East and Africa is projected to be the highest. 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. However, consumption of date sugar within these regions is lower as compared to North America and Europe. 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 4.0% during 2019 – 2029, for MEA, it is projected to witness over 5% growth.
Key Takeaways of the Global Date Sugar Market
– Date sugar in Syrup/ liquid form accounts for over one-third of the overall market, trailed by powdered form
– Date sugar demand in beverage industry is expected to grow 1.4X between 2019 and 2029
– Retail sales are expected to continue being the larger revenue contributor as compared to direct procurement
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– About 35 countries are engaged in the production and trade of dates, which together produce over 8 Mn tons of dates, though date sugar manufacturing is confined to a handful of countries
– There exists a significant difference in date sugar pricing amongst regions; price in North America is three times more as compared to that in MEA
– In 2018, North America, Europe and Middle-East and Africa together accounted for over three-fourth of the global date sugar market
– Global date sugar market is highly fragmented where top six players accounted for a mere 14% share in 2018
Certifications Pivotal for Brand Popularity, Key Players Race for Greater Market Share
Certifications hold significant importance for date sugar consumers while opting for a particular brand. This has led key manufacturers to obtain certifications such as Kosher, Organic, Gluten-Free, Non-GMO, and Natural. Key competitors such as Bob’s Red Mill Natural Foods, Now Foods, Naturalia Ingredients SRL, Date Lady, Glory Bee and Clarks U.K. Ltd. are the frontrunners focused on obtaining certifications.
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Most of the competitors in the date sugar market have their presence limited to regions around their headquarters, which has led to a moderate degree of competition. However, several regional players are focusing on increasing their global footprint through exports to key date sugar consuming countries.
“In comparison with the sugar substitutes market, date sugar market has witnessed a steady growth in the past half-decade. While key sugar substitutes such as stevia is still in its growth phase, date sugar is in its nascent phase of the product life cycle. This points at a large untapped opportunity for manufacturers in the date sugar market as it traverses through its growth phase.” Says the Fact.MR analyst.”
Find More Valuable Insights on the Global Date Sugar Market
Fact.MR, in its new offering, provides an unbiased analysis of the global market for date sugar, with historical data on demand (2014 – 2018) and expected projections for the period (2019-2029). The date sugar report discloses compelling insights into the demand for date sugar based on product form i.e. granules and crystal, powdered, and syrup/ liquid; end-use (industrial consumption, and retail consumption), origin (organic and conventional), sales channel (direct procurement and retail sales) across 6 key regions and 22 + countries.
To get more information on date sugar market, visit- https://www.factmr.com/report/651/date-sugar-market
About The Food & Beverage Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Fact.MR helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million plus data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
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Source URL: https://marketersmedia.com/liquid-variants-dominate-the-demand-in-date-sugar-industry-finds-factmr/88938517
Source: MarketersMedia
Release ID: 88938517
