Rising demand towards rich source of carb in the food items is projected to escalate the date sugar market at a CAGR of 4.2%
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.
On the basis of end-use, the date sugar market is categorized into bakery, confectionery, dressings and condiments, sauces and spreads. Bakery segment is dominating the market. Increasing consumption of bakery products like cakes and pastries, biscuits, breads, and breakfast goods and ready-to-eat foods across the globe owing to hectic lifestyle is expected to fuel the bakery products demand over the forecast years. Various factors affecting the bakery industry growth are flavors and fat content along with texture and sweetness. Date sugar is used in bakery product to enhance the taste and texture. High demand for functional baked products, such as gluten-free, high-fiber, and trans fat products, is expected to drive the demand for date sugar in bakery segment.
In 2018, Europe 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 Europe region. The date sugar manufacturers are expanding their production activities in countries such as Germany, Italy, Spain etc. so as to meet the rising demands of date sugar in the region which is also expected to provide great opportunities for date sugar products’ manufacturers.
Europe is estimated to register the fastest CAGR in the market over the forecast period. Date sugar has been gaining growing popularity in the European regions due to its applications in the food and beverage industry for enhancing tests and increasing health benefits of the foodstuff. The consumption of date sugar and date sugar-based food products are displaying incremented growth over the last few years in the European countries.
Moreover, Germany, Italy, Spain, and the UK are experiencing a growing demand for date sugar due to the increasing disposable incomes, growing urbanization, and rising demand for health beneficiary products. Apart from this, continuous research and development, coupled with the growing use of the latest technology for the extraction of date sugar, have led to the widespread adoption of date sugar
Some of the major key players operating in the global date sugar market include 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 among many others. The major players in the date sugar market are focused on strategies such as mergers and acquisitions, new development, and strategy and business planning to increase their geographical presence, production capacity and consumer base globally.
Global Date Sugar Market - By Region Breakdown, 2018
