Transparency
Market Research (TMR) delivers key insights on the global date palm
market in its upcoming outlook titled, “Date Palm Market - Global
Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 -
2026”. In terms of value, the global date palm market is projected
to expand at a CAGR of 3.1% during the forecast period due to various
factors, regarding which TMR offers vital insights in detail.
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The
date palm market is segmented on the basis of nature, variety, end
use, form and region. On the basis of nature, the global date palm
market is segmented into organic and conventional. The organic date
palm segment is expected to increase at a significant growth rate
owing to increasing demand for organic food and beverages in the
global market as organic food products are free from chemicals,
fertilizers, insecticides, and others. Organic date palm also has
higher nutritional content and offers high quality of taste to
consumers. In addition, consumers have greater preference towards
certified organic products such as certification by USDA, European
commission, and other government bodies. However, the conventional
segment accounts for a higher market share in the global date palm
market in terms of both value and volume. On the basis of variety,
the global date palm market is segmented into Deglet Noor, Medjool,
Barhi, Zahidi, and others. Since different regions covered in the
scope of the study have varying preferences of variety of date palm,
the analysis based on variety has been provided at a regional level.
Among all the varieties of date palm, Deglet Noor and Medjool are the
primary preference of consumers owing to their high quality and
higher nutritional content.
On
the basis of end use, the global date palm market is segmented on the
basis of household, foodservice, dietary supplements, personal care &
cosmetics, and food industry. Furthermore, food industry is
sub-segmented into bakery & desserts, confectionery, functional
food & nutritional bars, and others. The household segment is
expected to dominate the global date palm market in the near future
due to higher consumer preference towards dried date palm in Asia
Pacific region and raw date palm in Middle East countries. On the
basis of form, the global date palm market is segmented into raw and
processed form of dates. Further, processed form of date palm is
sub-segmented into paste, dried, purees and syrups. The raw form of
date palm segment is expected to grow at a significant CAGR in the
global date palm market. On the basis of region the global date palm
market is segmented into North America, Latin America, Europe, Asia
Pacific, and Middle East.
Middle
East & Africa Region Accounts More Than 80% of Global Date Palm
Consumption
The
date
palm market in the Middle East & Africa region is
expected to account for a majority of date consumption between 2018
and 2026 and is also the largest producer of dates in the world.
Middle East countries are expected to remain the largest market
through 2026, as dates are their major staple food. In the global
date palm market, after Middle East & Africa, dates are consumed
predominantly in Asia Pacific region and its majority of consumption
is in India and Pakistan. On the other hand, in the European date
palm market, the demand for dates is increasing at a robust growth
rate owing to its increasing demand in functional food, nutritional
bars, dietary supplements, and others. In addition, the demand for
date palm is also increasing in North America and European markets
owing to better positioning of dates in retail shelves at
hypermarket/supermarket stores as a healthy and nutritional fruit.
Higher
Expenditure for Product Packaging and Premiumization in order to Make
Distinctive Identity of Date Palm
In
order to increase the sales of date palm in the global market,
producers of date palm are more focused towards packaging of date
products such as offering dates in flexible and rigid thermo packs,
vacuum packs, bouquets of dates, and many others. Furthermore,
companies are also focused towards offering premium quality and
organic dates in order to meet increasing demand for dates in Europe
and North American market.
This
report covers trends driving each segment and offers analysis and
insights into the potential of the date palm market in specific
regions. Detailed profiles of the providers are also included in the
scope of the report to evaluate their long-term and short-term
strategies, key offerings and recent developments in the date palm
space. Date palm key players includes Al Barakah Dates Factory LLC,
Hadiklaim Date Growers Cooperative, Maghadi Dates, Haifa Dattes,
SUFFCO, Atul Rajasthan Date Palm Ltd., Natural Delights, Best Food
Company LLC, Groundworks of Palm Beach County Inc., and Bayara Saudi
Arabia Ltd.
The
growth of the date palm market is supported by increasing demand for
dates among households, owing to its associated health benefits and
its increasing demand among functional food manufacturers as it plays
significant role as an alternative to sugar and also a great source
of nutrients such as protein, carbohydrates, dietary fibre, and
minerals.
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