The date sugar market in Asia Pacific was valued at US$ 428.9 million in 2018 and is expected to reach US$ 635.5 million by 2027; it is estimated to grow at a CAGR of 4.5% during 2019–2027.
Date sugar is most commonly found in natural food stores since it is less processed than regular sugars. It is produced using dried dates and adds a rich sweetness to recipes. It is available in various forms such as granules and crystal, powdered, and syrup or liquid. High demand for sweetening agents with low glycemic index (GI) drives the growth of the date sugar market. Low GI food is recommended for individuals with high blood glucose or diabetes mellitus. Growing demand from processed snack and cereal manufacturers also drives the growth of the market. However, wide availability of cost-effective, yet potential, alternative sweeteners restricts the growth of date sugar market. For instance, coconut sugar, honey, fruit juices and nectars, molasses, and maple syrup are among the other natural sweeteners that can be used as a replacement for date sugar. The nutritional bars, including protein bars, snack bars, meal replacement bars, and whole food bars, are consumed as substitute for proper meal by individuals who need quick energy. The increasing number of the working population, living hectic lifestyle, is driving the demand for these nutritional bars. Also, the shift in consumer preference toward healthier diet and rise in disposable income have triggered the demand for nutrient-rich, organic food products. These factors have encouraged food and snack providers to introduce nutritional foods by amalgamating flavor and nourishment.
The date sugar market in Asia Pacific, based on form, has been segmented into granules and crystals, powdered, and syrup/liquid. The powdered segment holds the largest share of the date sugar market in Asia Pacific. Powdered date sugar is a finely ground and thus is more soluble in nature than granulated sugar. It is used in bakery and confectionery products; moreover, it is used in dressings and condiments, sauces, and spreads. Increasing consumption of confectionery and bakery food products is the key factor propelling the growth of powdered date sugar. Further, granulated date sugar is sometime referred to as industrial sugar. It is used in the food & beverages, and bakery and confectionery industries. Date sugar in this form is used in the preparation of cookies, biscuits, cakes, pastry, muffins, jams, marmalades, etc. Date sugar syrup is gaining popularity owing to its long shelf life. Moreover, its nontoxic, crystalization resistance, anti-freezing humectant, and preservative properties are driving the demand for date sugar syrup.
The date sugar market in Asia Pacific, based on country, has been segmented into Japan, Australia, India, China, Indonesia, South Korea, and Rest of Asia Pacific. Australia holds the largest share of the market in Asia Pacific, and China is expected register the highest CAGR in the market during the forecast period. The growing health-consciousness among consumers for adopting healthy lifestyle, along with the increasing use of this sweetening option in multiple industries, is fueling the growth of the market in Asia Pacific. Moreover, rising disposable income and purchasing power are predicted to contribute to the market growth in the coming years. Rising foreign direct investments (FDIs) are also leading to economic growth in the region. Over the years, the spending toward the developments of the food & beverages manufacturing industry has grown significantly in many Asia Pacific countries and is further anticipated to grow rapidly in the coming years.
Several players operating in the date sugar market in Asia Pacific are Now Foods, Ario Co., Hain Daniels Group, and MGT Dried Fruit, among others.
The overall date sugar market size in Asia Pacific has been derived in accordance to both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the date sugar market in Asia Pacific.