Date Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
The consumption of date globally is around 9.6 million metric ton is anticipated to witness a CAGR of 4.6% during the forecast period(2021-2026). The broadening of trade sanctions and high tariff barriers in reaction to the COVID-19 pandemic had a drastic detrimental effect on global food security. The Middle East and North Africa (MENA) region is the largest date producer and supplier worldwide. As the number of cases continues to rise in the midst of a global coronavirus resurgence and its latest strains, several Middle Eastern countries have extended restrictions on movements that are expected to put a strain on supply chains. For instance, in February 2021, a 20-day extension was declared by the Kingdom of Saudi Arabia on restrictions placed earlier this month to stem the pandemic. The date market is therefore expected to see a massive influence of the COVID-19 epidemic in the year 2021, as the fourth wave of the pandemic has exacerbated the supply-demand gap.
Over the long term, the increased consumption of date across the world with the rising awareness about health benefits and rising demand for date from processing industries is expected to drive the market growth over the study period. Fresh dates offer a variety of health benefits. They are a good source of vitamins and minerals such as calcium, iron, phosphorus, sodium, potassium, magnesium and zinc. They also contribute fiber to the diet, and have been shown to help prevent abdominal cancer. Hence, the increased awareness over the health befits of date consumption has boosted their imports worldwide. However, some factors such as stringent regulations, risk of pest and diseases and political uncertainties in the middle eastern region​ is expected to restrain the market growth during the forecast period.
Middle East and Africa is observed as the largest market for the dates globally. Egypt, Algeria, Saudi Arabia, Sudan, the United Arab Emirates, Iraq, Oman and Morocco dominate the MENA region, based on volumes of dates consumption.
Egypt ranked first, with the consumption of 1.6 million metric tons of dates in 2019. The highest per capita dates consumption was recorded for Oman followed by the United Arab Emirates, Algeria and Saudi Arabia. Owing to the increasing demand for dates, the consumption in expected to grow significantly during the forecast period.
Key Market Trends
Rising Awareness about Health Benefits of Dates Driving the Market
Dates have an excellent nutrition profile. They are a rich source of vitamins and minerals, including iron, potassium, B vitamins, copper, and magnesium, and fiber. Dates are also a good source of antioxidants, mainly carotenoids, and phenolics. Dates are a popular food across the Middle East. They are a sign of hospitability, served both in greeting and post-meal. Further, with the emerging trend of healthy snacking, consumption is rising in other parts of the world as well.
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Key Market Trends
Rising Awareness about Health Benefits of Dates Driving the Market
Dates have an excellent nutrition profile. They are a rich source of vitamins and minerals, including iron, potassium, B vitamins, copper, and magnesium, and fiber. Dates are also a good source of antioxidants, mainly carotenoids, and phenolics. Dates are a popular food across the Middle East. They are a sign of hospitability, served both in greeting and post-meal. Further, with the emerging trend of healthy snacking, consumption is rising in other parts of the world as well.
The United Arab Emirates was the largest date importing country in 2019, with an import volume of 632 thousand metric tons. The imported growth in quantity was recorded at 219% per annum from 2018-19. India ranked second in date imports worldwide in 2019, with an import of about 282 thousand metric tons. Indonesia is another major importer of dates in the Asia-Pacific region.
Consumption is also rising in European countries including France, Germany, United Kingdom and the Netherlands. The European consumers are searching for healthier alternatives to snack between meals, or for snacks that can replace meals. Younger consumers are switching from sweets such as candies, chocolate snacks to low-sugar alternatives.Thus, considering these factors, the global date market is expected to witness significant growth over the forecast period.
Middle East and Africa Dominates the Market
Middle East and Africa holds a major share of about 70% of global consumption for dates. Dates have been collected for their sweet fruit and has remained a staple food over the thousands of years worldwide particularly in the Middle East and Africa region.
Consumption is also rising in European countries including France, Germany, United Kingdom and the Netherlands. The European consumers are searching for healthier alternatives to snack between meals, or for snacks that can replace meals. Younger consumers are switching from sweets such as candies, chocolate snacks to low-sugar alternatives.Thus, considering these factors, the global date market is expected to witness significant growth over the forecast period.
Middle East and Africa Dominates the Market
Middle East and Africa holds a major share of about 70% of global consumption for dates. Dates have been collected for their sweet fruit and has remained a staple food over the thousands of years worldwide particularly in the Middle East and Africa region.
Date fruit has a special significance in Islamic countries. The dates are traditionally served at iftar tables to break the fast during the holy month of Ramadan. They are also served at greetings, funerals and post meals. The demand for dates peaks during the holy season of Ramadan, resulting in high imports of dates at that time.
In 2018, the per capita date consumption in Oman was recorded highest at 79 kilograms followed by followed by the United Arab Emirates(39 kilograms), Algeria(26 kilograms) and Saudi Arabia(19 kilograms). A similar up trend in consumption is expected to be seen during the forecast period.
Reasons to Purchase this report:
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In 2018, the per capita date consumption in Oman was recorded highest at 79 kilograms followed by followed by the United Arab Emirates(39 kilograms), Algeria(26 kilograms) and Saudi Arabia(19 kilograms). A similar up trend in consumption is expected to be seen during the forecast period.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
For sample report please visit: https://www.statzyreports.com/report/sr496579/date-market
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