ALBANY, New York, August 2, 2018 /PRNewswire/ --
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.
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.
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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.
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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.
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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.
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Global Date Palm Market: Competition Dashboard
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.
Global Date Palm Market: Key Insights
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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