A study by Fact.MR, a market research firm based in Dublin, revealed that Date Sugar will continue to generate the highest demand by 2029. The market is projected to grow 1.6X between 2019 and 2029. And, the consumer spending on date sugar is expected to increase further. Especially, Middle-East and Africa are expected to become the largest date sugar markets
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.
Countries from Asia Pacific region, especially India, Pakistan, China and Australia have large plantations of dates. The Australian date palm industry has observed immense growth in the last half a decade, with the country’s climate being suitable for large scale plantations of dates. Another country situated in southern hemisphere, Namibia is also showing huge promise in production of dates.
The 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, and it is expected to be valued at over US$ 120 Mn during mid-term forecast (year 2025). By 2029, the market is expected to reach a value of around US$ 150 Mn.
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.
The combined absolute $ opportunity from powdered and syrup / liquid segments equals to US$ 50 Mn. Market growth rate of granule / crystal form is expected to be higher in the second half of forecast period, where the consumer spending on date sugar is expected to increase further.
Hence, date sugar demand in beverage industry is expected to grow 1.4X between 2019 and 2029. 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. Middle-East and Africa are expected to become the largest date sugar markets in the mid-term forecast. In terms of market value, their regional markets are projected to be the fourth largest market by 2029 end.