According to a recent report on date palm market According to TMR analysts, the market is expected to reach $4,578 million in revenue by 2026. The market is expected to grow modestly at 3.2% CAGR during the period 2018-2026. Rising demand for organic dates, adoption of organic farming in key producing regions like California, and growing popularity as a food sweetener are expected to become the main driver of growth.
The demand for organic products continues to increase as consumers of various food categories opt for healthier choices and natural food ingredients. The rise of new applications such as date food syrup is also expected to create new opportunities for players in the date palm market. Date palm syrup is best for patients with diseases like diabetes. It may offer similar levels of sweetness, but lower amounts of sugar. Additionally, organic dates may enhance the healthy appeal of these syrups in the near future.
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Landscaping remains a major draw
Date palms were traditionally associated with values such as fertility and abundance. Moreover, these aesthetically pleasing trees can offer tasty fruits and keep for a long time in places like desserts. These trees also find a prominent place in tourist brochures or real estate advertisements.
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Their growing popularity in places like Southern California, Florida is expected to open new opportunities for players in the date palm market. There are many varieties of date palms and many of them are ideal for different purposes. Growing hybrid breeding methods, new landraces and growing demand for landscaping in the construction industry are expected to drive growth.
Growing demand for bakery and confectionery products to drive growth
Date purees and syrups are experiencing increasing demand in the food and beverage sector. Growing growth in the food and beverage sector owing to e-commerce and increasing demand for healthy products is expected to drive the growth of the date palm market. Besides syrups, date-based chocolates are also attracting more and more consumers to new food sweeteners. The expansion of various food products in the global market also creates new opportunities for experimentation to attract new consumers. Additionally, the date palm has enjoyed a strong appeal in the Middle East and continues to be a major draw in places like California. Growing demand for organic products, growing demand for healthy food options, and increasing expansion of the conventional baked goods market are expected to drive significant growth.
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This review is based on a TMR report, titled “Date Palm Market (Nature – Organic, Conventional; Form – Raw, Processed; Variety – Deglet Noor, Medjool, Barhi and Zahidi; End Use – Household, Foodservice, Dietary Supplements, Care personal and cosmetics, and food industry) – Global Industry Analysis, Size, Share, Growth, Trends and Forecasts 2018-2026 »
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