The increasing consumption in bakery, desserts, and confectionery industry, particularly in developing as well as developed countries is driving the date palm market growth
The global date palm market size is likely to attain over USD 21.5 billion by the year 2028. Besides, it is likely to project a CAGR of nearly 5.4% during the forecast years 2021-2028. The date palm is an old fruit tree native to the Arab world that is widely grown and polished for its edible sweet fruit. Date palms contain anti-inflammatory and essential minerals, as well as a significant quantity of crude fibre.
Date palm is a high-quality nutritional supplement that is cholesterol-free. The date palm tree is a multi-purpose tree that provides lumber, food, goods, and shelter, among other things. The date palm fruit is a nutrient-dense food that is high in minerals, fibre, carbs, and vitamins. The date palm contains anti-carcinogenic and anti-mutagenic characteristics. It's also important in the creation of safe and effective insulting materials because it's a renewable resource.
The rising demand for healthy snacks, cookies, pastries, and desserts is due to increased offerings by merchants utilising safe and nutritious ingredients. To boost the nutritional value of bakery and confectionery goods, manufacturers are using date-based purees and syrups as one of the main components, as well as dried dates. Furthermore, because to increased demand for candy containing date palm in the developing regions, confectionery producers are focusing more on producing date-based chocolates.
In the worldwide date palm market, demand is rising at a rapid pace in North America as well as Europe, particularly for premium varieties of dates as Medjool, Deglet Noor, Barhi, and others. The date palm is gaining popularity in the global food business because to its high carbohydrate, dietary fibre, and other nutritional content. Companies in the food sector are increasingly incorporating date palm into their goods in response to the growing trend of consuming healthy foods. This circumstance is creating a plethora of sales chances for date palm sellers across the world.
The report also emphasizes several distinctiveness of the global date palm industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the date palm industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The date palm market is under stiff competition from both new and existing market merchants. Furthermore, date palm sector suppliers are attempting to acquire potential markets in order to get a competitive advantage over the rest of the business. Market participants are creating alliances, purchasing other firms and startups, merging and acquiring, forming partnerships and collaborations, and increasing their commercial existence in order to conquer the market.
On the basis of nature segment, the market is bifurcated into organic and conventional. 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, on the basis of variety segment the target industry is segmented into medjool, deglet noor, barhi, and zahidi.
In the forecast duration, the North American region is predicted to provide the highest market share. The strong demand for date palm in North American countries will fuel growth of the industry in the near future. Also, rising demand for date syrup in the United States and Canada is projected to boost demand for date palms. During the predicted years, Asia-Pacific is expected to see significant growth. The growth of the date palm market in this region is mostly attributed to the growing adoption of date palm in this region.
The major players of the global date palm market are 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. Renowned companies are offering new date palm products. In addition, the previously recognized as well as new market players are approaching the market with advanced and new strategies to remain competitive in the global market.
Segment Overview of Global Date Palm Market
Nature Overview, 2019-2028 (USD Billion)
Form Overview, 2019-2028 (USD Billion)
Variety Overview, 2019-2028 (USD Billion)
- Deglet Noor
End use Overview, 2019-2028 (USD Billion)
- Dietary Supplements
- Personal Care & Cosmetics
- Food Industry
Regional Overview, 2019-2028 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America