Widespread Demand for Dates in Different Applications Stokes Progress in Date Palm Market
Albany, NY -- (SBWIRE) -- 12/26/2018 -- Increasing Demand for Healthy Foods Pushes Growth in Market
Date palms are a rich source of vitamins, fibers, and other nutrients through their fruits i.e., the dates. And as the demand for such foods is increasing by the day, the global date palm market is experiencing an unprecedented growth. Moreover, an increasing number of fitness enthusiasts too is making the market expand at an impressive pace, by supplementing the increasing rate of nutritious food demands. In addition, several companies are pouring extensive investments to improve their date manufacturing capacities. With increasing cultivation of date palms in the Middle East, Mediterranean, as well as in Europe, the market for these various dates is slowly expanding from a geographical perspective. Experts suggest that with rising production of functional food, nutritional bars, dietary supplements, the demand for date palms is all set up to witness a splendid surge. This is mainly due to the fact that dates are a crucial ingredient of the mentioned proprietary food items, consequently providing a strong impetus to the global date palm market's growth.
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As per expert analysts, the date palm market is projected to grow at a steady CAGR of 3.1% during the forecast period ranging from 2018 to 2026. On the basis of nature, organic date palms have witnessed maximum growth in recent times. This is mainly due to a rising awareness about the health benefits of organic foods coupled with increasing certifications required for the same.
Volatility in Raw Material Availability Stunts Progress
However, extensive fluctuation in availability of raw materials needed to cultivate date palms in remote and underdeveloped regions is primarily responsible for hindering progress in the date palm market. Moreover, these plants might grow properly only in specific regions, and not grow in other areas where suitable climatic conditions don't exist. In addition, cultivation of dates might be relatively costly, especially in geographical extents where necessary labor and equipment might not be readily available. Nonetheless, many businesses are soon expected to introduce cost-effective and eco-friendly date production techniques, thereby attempting to reduce major restraints acting on the date palm market.
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The global date palm market depicts a highly fragmented and competitive vendor landscape, says Transparency Market Research on the basis of a recently published report. Such a fragmented presence is mainly due to the existence of innumerable players in the market. Many companies are focusing on improving their product manufacturing techniques of dates. In this way, the companies are also enhancing customer retention by providing quality dates in the global date palm market. Many players are also focusing on improving their geographical reach.
Natural Delights, Best Food Company LLC, Groundworks of Palm Beach County Inc., Bayara Saudi Arabia Ltd. Al Barakah Dates Factory LLC, Hadiklaim Date Growers Cooperative, Maghadi Dates, Haifa Dattes, SUFFCO, and Atul Rajasthan Date Palm Ltd., are key players operating in the global date palm market.