Latest market study on "Date Sugar Market to 2027 - By Form (Granules and Crystal, Powdered, Syrup/Liquid); End Use (Bakery, Confectionery, Snacks, Dressings and Condiments, Sauces and Spreads ); Origin ( Organic, Conventional ); Sales Channel ( Hypermarkets / Supermarkets, Discount Stores, Specialty Grocery Stores, Traditional Grocery Stores, Online Retail ), and Geography", The global date sugar market is accounted to US$ 2,036.5 Mn in 2018 and is expected to grow at a CAGR of 4.2% during the forecast period 2019 – 2027, to account to US$ 2,942.1 Mn by 2027. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Report Coverage Details
Market Size Value in- US$ 2,036.5 Million in 2018
Market Size- US$ 2,942.1 Million by 2027
Growth rate- CAGR of 4.2% from 2019-2027
Forecast Period- 2019-2027
Base Year- 2019
No. of Pages- 181
No. Tables- 122
No. of Charts & Figures- 87
Historical data available- Yes
Segments covered- Form ; End Use ; Origin ; Sales Channel , and Geography
Regional scope- North America; Europe; Asia Pacific; Latin America; MEA
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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The North American region accounted for the maximum share in the global date sugar market. The North America region constitutes developed economies such as U.S. and Canada as well as Mexico as a developing nation. The companies are continuously enhancing the overall business processes to meet the customers' demand for high-quality products and services in the best possible way. Several domestic and multinational companies already have a strong foothold in the North American countries like the U.S. and Canada. From the past few years, there has been interesting concerning the growing and high consumption of sweeteners in the United States. Projected U.S. sugar production for the fiscal year 2019 is decreased, as both beet sugar and cane sugar production are lowered based on most recent crop data by FAO (Food and Agriculture Organization). Domestic deliveries for the fiscal year are also reduced as well, based on decreasing forecast totals than previously reported for 2018.
The demand for food applications is increasing rapidly all over the world, which is the growing demand for organic sugar. Consumers across the world are highly inclined towards the products that are made from natural substances, which has influenced the manufacturers to use organic date sugar in their products. Organic date sugar is used widely in bakery products like cookies, biscuits, cakes, pastry, muffins, jams, marmalades, etc. Organic date sugar can also be used in ice creams as well as chocolates. Thus, the increasing demand for organic date sugar in the food & beverage industry will be opening new avenues for the date sugar market.
Impact of COVID-19 Pandemic on Date Sugar Market
The COVID-19 outbreak was first reported in Wuhan (China) in December 2019, and since then, it has spread at a fast pace across the globe. As of June 2020, US, Brazil, India, Russia, Spain and the UK are a few of the worst-affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Food and beverages is one the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. There is lack of enough workers to harvest crops and international logistics services have become expensive and inefficient. Various companies have already announced possible delays in product deliveries and slump in future sales of their products.
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By form, the global date sugar market has been segmented into granules and crystal, powdered, syrup or liquid. Date sugar is utilized in different applications such as bakery, confectionery, snacks, dressings and condiments, sauces and spreads by industries or by households. However, depending upon the application the suitable form is used. For instance, date sugar granules and crystals are widely used for bakery & confectionery. In 2018, granules and crystal has led the global date sugar market, whereas syrup and liquid is expected to grow at the fastest growth rate during the forecast period of 2019-2027.
The global date sugar market by geography is segmented into five regions, including North America, Europe, Asia Pacific, Middle East and Africa, and South America. North America held the largest share of the global date sugar market. The demand for date sugar is expected to increase in the region due to rising awareness about health benefits offered by date sugar. Also, the growth in demand for various end use such as bakery, confectionery, processed snacks, dressings and condiments, sauces and spreads is also driving the market growth in North America region.
Date Sugar Market: Competitive Landscape and Key Developments
Bob’s Red Mill Natural Foods, Date Lady, Naturalia Ingredients srl, NOW Foods, GloryBee, Ario Co, Barry Farm Foods, Hain Daniels Group, PANOS brands and MGT Dried Fruit are among the key players in the global Date Sugar market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
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