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The Global Date Palm Market size is projected to increase by USD 9.79 billion, at a CAGR of 7% between 2023 and 2028. The MEA market is poised for significant growth, driven by abundant land for date palm cultivation. Annual international events aimed at bolstering the business further contribute to this expansion. The region's emphasis on enhancing global trade underscores its potential benefits. With a focus on consumer convenience and evolving market trends, the MEA market presents promising forecasts for consumption. This analysis highlights the region's strategic positioning amidst global market dynamics and emerging trends. Additionally, GNS Pakistan Dates Co company offers date palms such as Aseel Dates, Dry Dates, Pitted Dates, Diced Dates, Decapped Dates, Date Paste, Date Syrup, Macerated Dates, Block Dates, Stuffed Dates with Nuts and dried fruit, and others. This market research and growth report includes key drivers, trends, and challenges.
The market shows an Accelerated CAGR during the forecast period.
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The market share growth by the medjool date palm segment will be significant during the forecast period. They are prized for their delicious flavor, rich sweetness, and creamy texture. Consumers value the high quality and superior taste of Medjool dates, driving demand for them. They are recognized for their nutritional value and health benefits. They are a natural source of energy, rich in vitamins, minerals, and fiber, making them a popular choice among health-conscious consumers seeking nutritious and wholesome snacks.
The medjool date palm segment was valued at USD 10.76 billion in 2018.
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Furthermore, the major portion of Medjool is grown in the US (California) and Israel. Moreover, agro-economic conditions in Australia are also ideal for the cultivation of Medjool. Furthermore, date palms, including Medjool date palms, hold cultural significance in many regions, such as the Middle East. They are associated with tradition, heritage, and religious ceremonies, driving demand for Medjool date palms for ornamental and landscaping purposes in addition to commercial production. These factors are expected to augment the growth of the Medjool segment of the market during the forecast period.
Middle East and Africa is estimated to contribute 69% to the growth of the global market during the forecast period
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Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. Date palms are traditional crops in MEA and are cultivated in dry arid zones having irrigation facilities. During events and festivals, such as Ramadan, the demand increases significantly in the region as dates and milk are the first food items consumed by the people. Moreover, in June 2023, The Food and Agriculture Organization (FAO) Council approved Saudi Arabia's proposal to declare the year 2027 as the International Year of the Date Palm. Therefore, owing to these factors, the regional market is expected to grow significantly during the forecast period.
The market witnesses increasing demand for snacks and food processing segments due to the health benefits of dates enriched with nutrients, antioxidants, and organic ingredients, including protein, vitamins, iron, phosphorus, sodium, potassium, magnesium, dietary fiber, and carbohydrates, offering attractive flavors and compositions, supported by date palm kernel oil, while facing challenges from pests and diseases, presenting opportunities for market players to enhance product acceptance and usage with extended shelf life and diverse date-based products.
The rise in demand for date palm seed oil is the key factor driving the market. Date seeds are recognized as a source of valuable functional ingredients such as natural antioxidants and dietary fibers. Date palm seed oil (DPSO) is derived from the seeds of dates that are obtained from date palms. These seeds are significant in treating some neurodegenerative diseases and cancer. Date seeds are also used to prepare a type of edible oil.
Moreover, DPSO is rich in essential fatty acids such as linoleic acid, palmitic acid, and stearic acid. It is known for its healing properties with sugar, antioxidants, nutrients, protein, vitamins, and carbohydrates. Some other benefits include being ideal for skin treatment and hair growth, long shelf life, and zero transfats. Thus, the demand for DPSO is increasing among the health-conscious population due to the health benefits. This, in turn, will propel the growth of the market during the forecast period. Additionally, dates and palm trees are typically found in tropical areas, where they are valued for their nutritional content and antioxidants.
Increasing demand for organic dates is the primary trend shaping the market. Align with market trends and analysis, most of the demand for organic food is from Europe and North America. They are getting popular due to their health benefits. The market for organic products is a niche segment. Organic products are healthy superfoods and have high nutritional benefits. They do not contain pesticides, chemicals, or preservatives. Most of their cultivation takes place in Egypt, Morocco, and Israel. In North America, Tunisia produces organic dates and exports them to different countries.
Further, the interest in and supply of organic foods is growing. Food safety concerns among consumers regarding pesticides are driving their interest in organic foods. Furthermore, consumers consider organic dates to be healthier than their conventional counterparts, and the market demand for the same is increasing. Additionally, manufacturers are coming up with different varieties, which will definitely aid the growth of the market during the forecast period.
Lack of awareness about the production technology is a major challenge that affects market expansion. Crop sales are the primary source of income for farmers in Pakistan, while the sales are the secondary source of income. Date palms contribute mainly as the tertiary source of income for approximately two-thirds of farmers in Pakistan. Moreover, the marketing of dates is an important aspect for producers in many developing countries. The lack of awareness about marketing their produced dates affects producers significantly. Also, in developing countries such as Pakistan, the long distances between the cultivation area to the marketplace hinder the sale of dates.
Furthermore, aseel and Dhakki are the most popular varieties among the cultivars in Pakistan. However, the majority of farmers lack awareness of other popular varieties. They also have a low level of knowledge regarding the use of fertilizers and the time of application, as well as the diseases and pests in cultivation. This indicates the low level of awareness among farmers about the production technologies and information regarding the same. Thus, it is a significant challenge for the growth of the global market.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market forecasting growth and analysis.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Al Mohamadia-Dates Co., Al Raiqa Date Fruit Trading Co. LLC, Ario Fruit Co., Barari Group, Bard Valley Natural Delights, Bateel International Llc, Bayara, Best Food Co. LLC, Egyptian Export Center, Emirates Dates, Groundworks of Palm Beach County Inc., Hadiklaim Israel-Date Growers Cooperative, HAIFA DATTE, Lion-Dates, Liwa-Date for Food Industries LLC, PalmHillsDates, and Royal Palm Group
The market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing a surge in product acceptance driven by its versatile usage across various industries. From producing white sugar to incorporating organic ingredients in food processing, date-palms offer a rich source of phosphorus, sodium, potassium, and magnesium. The market extends to date palm kernel oil, catering to the growing demand in the food processing segment for its attractive flavors and diverse compositions. With its wide variety including Deglet Noor, Barhi, and Zahidi, date palms find applications in raw and processed forms across end user segments like household, food service, dietary supplements, personal care, and cosmetics within the food industry.
Furthermore, the market encompasses a spectrum of offerings, from fresh dates to purees & syrups, catering to diverse applications. With its distinctive nature, date palms provide a unique flavor profile unmatched by substitutes. Among the product types available, Deglet Noor stands out, alongside other varieties like Barhi and Zahidi, offering options for the production of whole-date products. As a significant flowering plant species, date palms yield edible sweet fruit, contributing to the market's overview and serving as a staple in various industries.
The market research and growth report forecasts market growth analysis by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Market Scope |
|
Report Coverage |
Details |
Page number |
160 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7% |
Market Growth 2024-2028 |
USD 9.79 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.67 |
Regional analysis |
Middle East and Africa, APAC, Europe, North America, and South America |
Performing market contribution |
Middle East and Africa at 69% |
Key countries |
Egypt, Algeria, Saudi Arabia, Iran, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Agthia Group PJSC, Al Barakah-Dates Factory LLC, Al Mohamadia-Dates Co., Al Raiqa-Date Fruit Trading Co. LLC, Ario Fruit Co., Barari Group, Bard Valley Natural Delights, Bateel International Llc, Bayara, Best Food Co. LLC, Egyptian Export Center, Emirates-Dates, GNS Pakistan-Dates Co., Groundworks of Palm Beach County Inc., Hadiklaim Israel-Date Growers Cooperative, HAIFA DATTE, Lion-Dates, Liwa-Date for Food Industries LLC, PalmHillsDates, and Royal Palm Group |
Market dynamics |
Parent market analysis, market growth and trends inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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