Accordingto a recent report on date palmmarket by TMR analysts, the market is expected to reach $4,578 mnin revenues by 2026. The market is expected to witness modest growth at 3.2%CAGR during 2018-2026. The rise in demand for organics date, adoption oforganic farming in key producing regions like California, and increasingpopularity as a food sweetener are expected to emerge as key driver for growth.
The demandfor organics continues to rise as consumers across various food categories optfor healthier choices and natural food ingredients. The rising new applicationslike date food syrup is also expected to create new opportunities for playersin the date palm market. Date palm syrup is preferable for patients withillnesses like diabetes. It can offer similar levels of sweetness, yet loweramounts of sugar. Moreover, organic dates can boost the healthy appeal of thesesyrups in the near future.
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LandscapingRemains a Major Draw
Date palmtrees were conventionally associated with values like fertility and abundance.Additionally, these aesthetically pleasing trees can offer fruits which aretasty and can be preserved in places like desserts for a long time. These treesalso find a popular spot on brochures for tourists or real estate ads. Theirgrowing popularity in places like Southern California, Florida are expected toopen new opportunities for players in the date palm market. There are manyvarieties of the date palm trees and many of these are ideal for differentpurposes. The growing hybrid selection methods, new natural varieties, andgrowing demand for landscaping in the construction sector are expected to drivegrowth.
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RisingDemand for Bakery Products and Confectionaries to Drive Growth
Date-basedpurees and syrups are witnessing a growing demand in the food and beveragesector. The rising growth of food and beverage sector due to e-commerce andgrowing demand for healthy products are expected to drive growth for the datepalm market. Apart from syrups, date-based chocolates are also drawing moreconsumers towards new food sweeteners. The expansion of various food items inthe global market is also creating new opportunities for experimentation toappeal to new consumers. Moreover, the date palm has enjoyed a strong appeal inMiddle East and continues to be a major draw in places like California as well.The rising demand for organics, growing demand for healthy food options, andgrowing expansion of conventional bakery goods market are expected to drivesignificant growth.
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