Rising demand towards a high carbohydrate source in food products is expected to climb the date sugar market at a CAGR of 4.2% and reach $ 2,942.1 million by 2027
NEW YORK, UNITED STATES, December 9, 2021 /EINPresswire.com/ – Latest market research on “Date Sugar Market to 2027 – By Form (Granules and Crystal, Powder, 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 ” Date sugar is valued at US $ 2,036.5 million in 2018 and is expected to grow at a CAGR of 4.2% during the forecast period 2019 – 2027, reaching US $ 2,942.1 million of by 2027. The report includes a key understanding of the driving factors behind this growth and also highlights key market players 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 – 4.2% CAGR from 2019-2027
Forecast period – 2019-2027
Base year – 2019
Number of Pages – 181
N ° Tables – 122
Number of graphs and figures – 87
Historical data available – Yes
Covered segments – Shape; End use; Origin; Sales channel and geography
Regional scope – North America; Europe; Asia Pacific; Latin America; AEM
Country Scope – US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report Coverage: Revenue Forecast, Company Rank, Competitive Landscape, Growth Factors and Trends
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The North American region accounted for the maximum share of the world date sugar market. The North America region includes developed economies such as the United States and Canada as well as Mexico as a developing country. Companies are constantly improving all business processes to best meet customer demand for high quality products and services. Several national and multinational companies are already well established in North American countries such as the United States and Canada. In recent years, there has been interest in the growing and high consumption of sweeteners in the United States. Planned U.S. sugar production for fiscal 2019 is reduced as beet and cane sugar production is lowered based on the most recent harvest data from FAO (Food Organization and agriculture). Domestic deliveries for the year are also reduced, based on the total forecast lower than previously reported for 2018.
The demand for food applications is increasing rapidly all over the world, matching the growing demand for organic sugar. Consumers around the world are very inclined towards products made from natural substances, which has prompted manufacturers to use organic date sugar in their products. Organic date sugar is widely used in baked goods like cookies, biscuits, cakes, pastries, muffins, jams, marmalades, etc. Organic date sugar can also be used in ice creams and chocolates. Thus, the growing demand for organic date sugar in the food industry will open up new avenues for the date sugar market.
Impact of the COVID-19 pandemic on the date sugar market
The COVID-19 outbreak was first reported in Wuhan, China in December 2019, and since then it has spread at a rapid rate across the world. As of June 2020, the United States, Brazil, India, Russia, Spain and the United Kingdom are some of the most affected countries in terms of confirmed cases and reported deaths. COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans and business closures. Food and beverage is one of the major industries in the world suffering from severe disruption such as supply chain disruptions, cancellations of tech events and office closures as a result of this outbreak.
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By form, the global date sugar market has been segmented into granules and crystals, powder, syrup, or liquid. Date sugar is used in different applications such as baking, confectionery, snacks, dressings and condiments, sauces and spreads by industries or by households. However, depending on the application, the appropriate form is used. For example, date sugar granules and crystals are widely used for baking and confectionery. In 2018, granules and crystal dominated the global date sugar market, while syrup and liquid are expected to grow at the fastest growth rate during the forecast period 2019-2027.
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, the PANOS brands and MGT Dried Fruit are among the major players in the global date sugar market. Leading companies focus on expanding and diversifying their market presence and acquiring new customers, thereby exploiting existing business opportunities.
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