Date Market 2020: Emerging Trends, And Growth Opportunities Is Likely To Expand At A Steady Growth By 2027 | Covid-19 Analysis

The global date market is experiencing a significant growth, and is expected to continue this trend in the next few years, owing to its wide usage and healthy nutrients. Date is an edible sweet fruit of a flowering plant species known as date palm from the palm family, Are caceae. The peak season for this sweet dates starts from mid-autumn and continues till mid-winter in the northern hemisphere region. Many types of date fruits are available in the market. Zahidi is asemi-dry date, which has sweet sugary flavor. It is consumed out-of-hand or used for cooking and very good for baking purposes. Medjool is another typeof date available in the market. It is rich in nutrients and delicious sweet date with soft, fibrous texture. It is large in size with amber and reddish-brown skin. It is good for eating fresh. Dayri isheavy and sweet flavored soft date, which ripens in midseason.. It has medium to large oblong shape and is soft-fleshed fruit along with red skin. Deglet noor is sweet delicate flavored semi-dry date, and is known for its “true” date taste. It turns from amber shade to deep brown shade as it ripens. Apart from these main types, few more kinds of dates are sold in the market such as barhi, arhihalawy, khadrawy, and thoory.

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Companies covered:

Haifa Dattes, SUFFCO, Atul Rajasthan Date Palm Ltd., Natural Delights, Al Barakah Dates Factory LLC, Best Food Company LLC, Groundworks of Palm Beach County Inc., Bayara Saudi Arabia Ltd., Hadiklaim Date Growers Cooperative, and Maghadi Dates.

COVID-19 scenario analysis

The worldwide outbreak of COVID-19 has led to serious implications in all the economic sectors. The COVID-19 outbreak has created medical emergency, due to which the demand for food items, hygiene products, and medical productsis increasing. Moreover, during this pandemic, the sales of traditional, healthy, and staple food items has increased considerably. Frozen non-veg food, fruits& vegetables, eggs, pulses, flour, and whole grains are further experiencing increased demand. However, nonessential products such as packaged foods, coffee, pastries, milkshakes, sweets, chocolates, cheese, and other bakery products have witnessed decline in their sale. Although the dates market has not been affected as severely as other processed food market, the implementation of lockdown scenario in various countries has hampered the production and supply chain of dates. Moreover, demand for dates in cosmetic and personal care industry and packaged & processed food industry has declined. Furthermore, the consumer buying behavior may change permanently post COVID-19. On the contrary, companies have to build robust sales plan for recovery, for instance, they might have to adopt e-commerce platform and omnichannel in their supply chain.

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Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

Increase in health consciousness among individuals is the key growth driver of the date market. Various nutrients such as protein, potassium, magnesium, copper, manganese, iron, vitamin b6present in the date fruit are increasing its demand. In addition, it is rich in fiber, which helps in blood sugar control and enhances the function of digestive system. Date fruit offers various health benefits due to which its consumption is increasing. For instance, it contains antioxidants such as flavonoids, carotenoids, phenolic acid, whichprotect body cells from free radicals.These are unstable molecules responsible for causing harmful reactions in the body and may lead to several disease. In addition, dates promote brain health, which boosts their demand, globally, thereby supplementing the growth of the market.

The organic dates segment is expected to dominate the date market during the projected years, due to increase inawareness about health benefits offered by organic food. In addition, dates areused as natural sweeteners, which may replace artificial and synthetic food additives, sucrose, and white sugar.

Wide usage of dates in the food &beverage, cosmetic &personal care,and dietary supplements industries is supporting the market to remain profitable in coming years.

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The global date market trends are as follows:

New product launches to flourish the market

There has been surged demand for premium quality and branded dates. To serve the increasing demand, new products are being launched. Leading companies are focused in making new dates products with enhanced flavor and taste. For instance, in February 2019, Medjool Date Company celebratedits launched Joolies, a new organic date at Natural Products Expo West in Anaheim, California.

Key benefits of the report

This study presents the analytical depiction of the global date industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global date market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global date market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.

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