The date palm market is expected to grow at a compound annual growth rate (CAGR) of 4.6% over the forecast period, from its estimated value of USD 13.5 billion in 2022 to USD 17.11 billion by 2028.
Date fruits have the potential to improve human health. However, this fruit is undervalued, and significant study is required to establish a sustainable date palm business. Many items made from date fruits include confectionary, date butter, jam, date-in-syrup, chutney, candy, jelly, and date bars. The rising popularity of sugar-free or low-sugar goods among consumers has prompted confectionery and bakery producers to make significant efforts to minimise sugar content in their products.
Over the forecasted period, rising consumption in the bakery, desserts, and confectionery industries is predicted to enhance market concentration. Sugar reduction or replacement for white sugar is predicted to be a greater trend than sugar-free products since it gives producers more options and has less of an influence on the final flavour. Global confectionery industry market size was valued at over USD 180 billion in 2018.
Increased per capita expenditure in both emerging and developed nations is projected to fuel demand for bakery and confectionary items, resulting in increased dates penetration in the future years. In the next years, the date palm sector is projected to be strengthened by increased government investment and agricultural company support to enhance date output.
The global date palm market size is predicted to reach over USD 21.5 billion by 2029. The target market is projected to be driven by rising demand for healthy ingredients and rising demand for cookies, healthy snacks, desserts, and bakeries. Other reasons predicted to stimulate demand for the date palm include an increase in the number of manufacturers using date-based syrups and purees as one of the major ingredients in their goods, as well as the use of dried dates to boost the nutritional value of confectionery and bakery items.
Growing markets for date palms, on the other hand, will provide profitable opportunities in the future. Top date palm companies are always focused on developing high-end items that will drive market expansion over the next 10 years. Furthermore, the target market's expansion is projected to be fueled by the expanding fitness trend and rising health standards. Low yield owing to fungal diseases and trouble in date palm plantations, on the other hand, is a key problem that is predicted to limit the target market's growth. The growing desire for organic dates among customers is one of the key trends in the global date palm industry.
Date Palm Market Scope
|Revenue forecast in 2028
|USD 17.11 billion
|CAGR of 4.6 % during 2018-2028
|Nature, Form, Variety, End-use, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Best Food Company LLC, Groundworks of Palm Beach County Inc. Natural Delights, Atul Rajasthan Date Palm Ltd. Hadiklaim Date Growers Cooperative, Bayara Saudi Arabia Ltd, Maghadi Dates, Al Barakah Dates Factory LLC, SUFFCO, Haifa Dattes among others.
Key Segments of the Global Date Palm Market
Nature Overview, (USD Billion)
Form Overview, (USD Billion)
Variety Overview, (USD Billion)
- Deglet Noor
End use Overview, (USD Billion)
- Dietary Supplements
- Personal Care & Cosmetics
- Food Industry
Regional Overview, (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global date palm market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global date palm market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the date palm industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on component, application, and industry vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global date palm market. The report will benefit every stakeholder involved in the date palm market.
- Managers within the date palm industry looking to publish recent and forecasted statistics about the global date palm market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global date palm market.
- Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
The global date palm industry is competitive, with the top regional competitors of the industry. Major players in the global industry are Best Food Company LLC, Natural Delights, Hadiklaim Date Growers Cooperative, Groundworks of Palm Beach County Inc. Atul Rajasthan Date Palm Ltd. Bayara Saudi Arabia Ltd, Maghadi Dates, Al Barakah Dates Factory LLC, SUFFCO, Haifa Dattes among others.
Mergers and acquisitions, major investments, collaborations, new product launches, and capacity expansion are all important techniques utilized by large multinational corporations to boost their market share. To fulfil a wide range of consumer requests, the market's leading firms have a large worldwide footprint and a diverse product portfolio. Throughout the forecast period, developing areas are anticipated to become major markets for date palms due to growing demand from end-user industries.
Deeper awareness of the health advantages of dates has led to increased consumption in recent years, and this trend is anticipated to continue in the future years. Dates provide a number of key health advantages. Its high calorie content compared to other fruits, as well as its nutritious and essential vitamins, are projected to boost its market share. High fibre content is beneficial to digestive health since it prevents constipation. Date eating on a daily basis promotes regular bowel movement, which is critical for individuals with digestive problems. Constipation is an issue that many Americans and Europeans have.
Dates are a natural sweetener that may be used in a variety of recipes. A natural kind of sugar with a high fructose content is predicted to be the greatest alternative for white sugar. Because of its minerals, antioxidants, and fibre, it is predicted to be a perfect healthy substitute for white sugar in recipes. The market is fragmented, with a few large businesses owning the lion's share. However, as new market entrants emerge from emerging countries such as India, Japan, China, and others, the sector is expected to fragment more in the coming years.
Based on the nature segment, the market is bifurcated into organic and conventional. In 2020, the organic sgment accumulated the significant market share and it is likely to continue its dominance throughout the forecast years. Dates that are organic are the most natural. These are grown in a natural setting and hand-picked from farms with excellent soil, plenty of water, and plenty of direct sunlight. Organic date cultivation is carried out on farms where no chemical materials are applied to the soil for more than three years.
They have a natural colour, a pleasant flavour, and a distinct odour, which is the most obvious difference between organic and conventional dates. Organic dates have been more popular in recent years due to their healthy sweetening properties and high iron and fibre content, and this trend is anticipated to continue in the future. The traditional category, on the other hand, is expected to increase significantly over the next few years, owing to rising usage in emerging markets.
Organic and conventional dates generally have the same flavour and taste, but choosing the organic range ensures that the product has gone through a rigorous quality control cycle and adheres to organic agricultural rules. This entails the use of only natural fertilisers, pure water, the absence of pesticides and herbicides, and regular laboratory testing.
End use Segment
Based on the end use, the market is segmented into foodservice, personal care & cosmetics, dietary supplements, food industry, and household. The food industry sector sized the maximum market share in 2020 and it is likely to maintain its place throughout the forecast years. Further, dietary supplements end use segment is anticipated to grow at noteworthy growth rate over the forecast period of time.
Over the projection period, rising demand for date syrup in the United States and Canada is projected to boost demand for date palms. Silan or date syrups are anticipated to benefit from rising consumer demand for sweetener alternatives in the region. As a result, demand for dates is projected to rise throughout the projection period. Dates' main characteristics include their low glycemic index and suitability for paleo and vegan diets, which has resulted in a large growth in their use for making silan or date syrups in recent years.
Date fruit production and consumption is increasing in developing areas such as Australia and India. Date palms are known for their high nutritional content and sweet flavour, which has led to a recent increase in their consumption across Asia and Oceania. During the projection period, several regions of Asia Pacific are predicted to have good agronomic conditions for product cultivation. In recent years, the consumption of Barhee and Medjool date palm types has risen in the region.
Some of the most popular date palm varieties in Europe include Deglet Nour, Zahidi, Kouat Alligh, and Medjool. Due to numerous product features such as sweetness, soft texture, and caramel taste, as well as high knowledge about the fruit, demand for Mejdool dates has risen substantially in recent years in countries such as France, Germany, and the United Kingdom. In 2017, the top importers of date palms in Europe were Germany, the Netherlands, Spain, and Russia. Consumer preferences for natural, high-energy, and nutritious meals are anticipated to increase demand for date palms in Europe throughout the forecast period.
The major players of the global date palm market are Best Food Company LLC, Natural Delights, Hadiklaim Date Growers Cooperative, Groundworks of Palm Beach County Inc. Atul Rajasthan Date Palm Ltd. Bayara Saudi Arabia Ltd, Maghadi Dates, Al Barakah Dates Factory LLC, SUFFCO, Haifa Dattes among others. Prominent companies are posing new and innovative date palm products. They are also investing in and purchasing small firms in order to boost their profitability. Major competitors in the target market are using a number of business tactics to get a competitive edge in the global market, including partnerships, new solutions, large investments, strategic alliances, and mergers and acquisitions.