Date Palm Market Revenue Expected to Increase to US$ 10,353.4 Mn by 2026

Transparency Market Research offers an eight-year forecast for the global date palm market between 2018 and 2026. In a recently released report by the company, the global date palm market is expected to register a CAGR of 3.1% during the forecast period. The primary objective of the report is to offer insights on the advancements and opportunity in the date palm market. The study demonstrates market dynamics that are expected to influence the current challenges and future status of the global date palm market over the forecast period. This report also offers updates on trends, drivers, restraints, value forecasts, and opportunities for manufacturers operating in the global and regional date palm market.

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The general perception that healthy food comes at the cost of taste has been successfully blurred out in the functional bar, as manufacturers have improved their products to such an extent, that taste is no more a negative factor as far as functional bars are concerned. Improved ingredient quality and the introduction of newer process technology has made functional bars available in attractive flavors and compositions, some of which are only unique to bar offerings, such as high protein content, vitamins, organic ingredients, fruits, dates, nuts, etc. Companies are offering nutrition bars containing date palm as a key ingredient as it is a rich source of dietary fiber, carbohydrates, and enriched with many other nutrients. The global date palm market by end use is segmented into households, 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. In the global date palm market, dietary supplements segment is projected to grow at 3.9% CAGR over the forecast period. Furthermore, on the basis of nature type segment, date palm market is segmented into organic and conventional. The demand for organic date palm is rising in the North America and Western European countries.

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Increasing Demand for Date Palm among Bakery, Desserts, and Confectionery Manufacturers

Product innovations addressing growing health concerns have changed the market dynamics on a global level. Increasing offerings by vendors using safe and healthy ingredients is responsible for the growing demand for healthy snacks, cookies, bakery, and desserts. Manufacturers are preferring date-based purees and syrups as one of the key ingredients in their products and also dried dates in order to enhance nutritional content of bakery and confectionery products. In addition, confectionery manufacturers in Middle East countries are more focused towards offering date-based chocolates owing to increasing demand of confectionery containing date palm in Europe and Asia Pacific markets. On the basis of form, the global date palm market is segmented into raw and processed date palm. Further, processed form of date palm is sub-segmented into paste, dried, purees and syrups.

Increasing Demand for Premium Quality Date Palm in the European Market

The global date palm market report includes analysis at a regional level and is further broken down at a country level that includes consumption of dates in respective countries across five regions. By region, the global date palm market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. In the global date palm market, the demand for date palm is increasing at a robust growth rate in Europe and North American market especially for premium variety of dates such as Deglet Noor, Medjool, Barhi, and others. In terms of value and volume share, Middle East and Africa accounts for a majority of market share in the global date palm market. A section of the report highlights the global demand for date palm. This study discusses key drivers, and opportunities contributing to the growth of the global date palm market, as well as analyses the degree to which drivers are influencing the global market. In the final section of the global date palm report, a competitive landscape has been included to provide report audiences with a dashboard view. Key categories of producers covered in the report are global date palm key players. Detailed profiles of the producers are also included in the scope of the report to evaluate their long-term and short-term strategies, key product offerings and recent developments in the global date palm space.

Market participants in the global date palm market include, Natural Delights, Best Food Company LLC, Groundworks of Palm Beach County Inc., Bayara Saudi Arabia Ltd. Al Barakah Dates Factory LLC, Hadiklaim Date Growers Cooperative, Maghadi Dates, Haifa Dattes, SUFFCO, Atul Rajasthan Date Palm Ltd. And others.

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This release was published on openPR.