Global Date Palm Market - 2022-2029

Global Date Palm Market - 2022-2029

Market Overview

Date palm, also known as Phoenix dactylifera or date, is a flowering plant species in the palm family and cultivated for its edible sweet fruit called dates. Dates color ranges from dark brown to bright red or yellow depending on the variety. Dates are mostly cultivated in the Middle East and the Indus Valley. The total annual world production of dates amounts to 8.5 million metric tons. The Middle East and North Africa are the largest producers and consumers of dates. Dates contain 21% water, 75% carbohydrates, 2% protein, and less than 1% fat. Dates are a rich source of energy. The whole date palm tree is very useful all parts of the tree are used, such as the trunk furnishes timber; the midribs of the leaves supply material for crates and furniture; the leaflets for basketry; the leaf bases for fuel; the fruit stalks, for rope and fuel; the fiber, for cordage and packing material; and the seeds are sometimes ground and used as stock feed. Egypt, Iran, Saudi Arabia, and Iraq are the leading date-producing and date-exporting countries. The increasing demand for food based on dates, such as various snacks and date palm kernel oil, is estimated to boost the market's demand.

The global date palm market was valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 3.45% during the forecast period (2022-2029).

Market Dynamics: An increase in health benefits awareness of the consumption of dates drives market growth

Dates are a rich source of calories, carbs, fiber, protein, potassium, magnesium, copper, manganese, iron and vitamin B6. Most of the calories in the dates come from carbs. Dates are a rich source of fiber. Fiber is important for overall health. The fiber in the dates is beneficial for digestive health by preventing constipation. It promotes regular bowel movement by contributing to the formation of stool. The fiber in the dates is beneficial for blood sugar control. Dates provide various antioxidants that protect body cells from free radicles and unstable molecules that cause harmful reactions in the body and lead to disease.

Dates are also rich sources of three antioxidants: Flavonoids, Carotenoids and Phenolic acid. Flavonoids are powerful antioxidants that reduce inflammation and can potentially reduce the risk of diabetes, Alzheimer’s disease and certain types of cancer. Carotenoids in the dates promote heart health and reduce the risk of eye-related disorders like macular degeneration. Phenolic acid in the dates is known for its anti-inflammatory properties and helps to lower the risk of cancer and heart disease. Dates help lower inflammatory markers in the brain, such as interleukin 6 (IL-6). High levels of interleukin 6 are associated with a higher risk of neurodegenerative diseases like Alzheimer’s. Dates help reduce the activity of amyloid beta proteins, which can form plaques in the brain. Excess plaque in the brain disturbs communication between brain cells which can ultimately lead to brain cell death and Alzheimer’s disease. Dates are very beneficial for the ease of late-term labor in pregnant women. Eating dates in the last few weeks of pregnancy promote cervical dilation and lower the need for induced labor. They may also help reduce labor time. Dates are very sweet and are used as excellent natural sweeteners. Dates are good for bone health due to minerals in the dates such as phosphorus, potassium, calcium and magnesium. Dates are good for blood sugar regulation due to their low glycemic index, fiber and antioxidants. Regular consumption of the dates is beneficial for diabetes management.

Market Segmentation: Organic segment accounted for the highest share in global Date Palm market

The organic date segment dominated the market due to the high demand from consumers. Most consumers prefer to consume the organic form of products because they contain multiple nutrients without the presence of any pesticides or toxic chemicals. The demand for organic date palms is due to the changing consumer lifestyle and the increased number of health-conscious people in the market. Organic dates are free from harmful pesticides, herbicides and other chemicals. Organic farming is good for the environment. It keeps dangerous substances out of the soil, decreasing pollution and protecting the environment. Organic dates tend to be fresher than compared to conventionally grown dates. In organic date, palm farming, only bio fertilizers and organic fertilizers are used. Organic dates are produced using organic farming standards. In the United States, organic foods are certified by the National Organic Program. In the U.S., a sizeable share of almost 40 percent counts organic food as one of their leading food priorities. Increased demand for organic food products drives segment growth in the forecast period. For instance, in 2021, the United States amounted to about 57.5 billion U.S. dollars in organic food sales.

Geographical Penetration: North America is the dominating region during the forecast period

North America has dominated the region due to the increasing demand for date palms due to their health benefits. The United States and Canada are the leading countries in date palm consumption. In the United States increase, the demand for functional food like dates drives the market growth in the forecast period. The rise in demand for nutritional food is due to the region's health consciousness population. The commercial dates in the United States are located in the Sonoran Desert of southeast California and southwest Arizona. The industry comprises about 3800 hectares, of which 78% is found in California and the rest in Arizona. The increased demand for organic dates in the United States drives regional growth due to the increasingly health-conscious population. Individual growers in the United States are increasingly forming cooperatives to pack the fruit at a centrally located packinghouse. Increasing demand for dates palm from snack manufacturers in the region drives the market growth.

Competitive Landscape

There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Some major market players are AL BARAKAH DATES FACTORY L.L.C, Atul Rajasthan Date Palms, Barari Group, Bard Valley Natural Delights, EMIRATES DATES, HAIFA DATTE, Maghadi, Hadiklaim, PHOENIX AGROTECH LLC, Al WathbaMarionnet, and Kutch Crop Services Pvt. Ltd. among others. Some major key players launched new products in the market to expand their business. For instance, in March 2022, Bard Valley Natural Delights launched a new product line of Truffles to accompany its roster of Mini Medjool Date varieties. The new Truffles come in 5 oz packages and are available in three flavors: Chocolate Probiotic, Milk Chocolate Cherry, and Dark Chocolate Blueberry. The newly launched truffle’s combine the health benefits of dates with beloved chocolate to create a well-rounded, indulgent snack that satisfies consumers' craving for eating healthy and sweet. Some major key players expand their businesses to increase their product sales. For instance, in March 2021, Al Barakah Dates expanded its existing facility in Dubai Industrial City to make it the world’s biggest date factory. The company is expanding its facility to increase its existing facility to process over 100,000 tons of date and date products annually, which is approximately half of the UAE's entire domestic harvest. The new factory covers a total area of 600,000 square feet with 420,000 square feet of processing and cold storage space and features more than 6,500 solar panels to offset 3,000 tons of emissions per year. This expansion further grows the company’s range of organic and conventional date products.

COVID-19 Impact Positive impact on the global date palm market

The date palm market has been positively affected by the COVID-19 pandemic as people changed their priorities and invested more in buying healthy and immunity-boosting food products. The increased sales of dates and their processed products were observed through online stores during the COVID-19 period, which sustained the demand in the market studied. Most people preferred to buy larger quantities at a time, fearing running out of stock of products. Thus, large basket sizes remained a significant reason for the sustenance of date’s products across all regions. Moreover, the demand for ready-to-eat products has increased during the pandemic situation. Hence, the demand for processed date products has also increased, as dates are rich in fiber, and antioxidants are one of the supplements that may directly affect immune system cells. Therefore, it can improve it and prevent diseases that occur due to the vulnerability of the immune system. Some major market players boost their date product sales in the Covid. For instance, Joynagar Moa Nirmankari Society makers of the Joynagar moa boost sales during the Covid pandemic. The moa is a popped-rice ball held together with fresh date-palm jaggery that is extracted during the winter months.

The global date palm market report would provide an access to approximately 80 market data tables, 76 figures and 170 pages