Growing Demand for Organic Dates to Drive the Date Palm Market | Technavio

The global date palm market is expected to grow at a CAGR of more than 7% from 2017-2021, according to a new market research report by Technavio.

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Technavio has published a new market research report on the global date palm market 2017-2021 under their food and beverage library. (Graphic: Business Wire)

Global date palm market segmentation by product type and distribution channel

Technavio’s report on the global date palm market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by product type, including medjool date palm and deglet nour date palm. As projected in 2016, more than 59% of the market share originated from medjool date palm.

Based on distribution channel, the global date palm market has been segmented into hypermarkets and supermarkets, convenience stores, and food and drink specialist stores. As of 2016, more than 52% of the market share came from hypermarkets and supermarkets.

“There has been an increase in organized retail, particularly in developing countries. The penetration of modern retail chains in the ASEAN countries such as Indonesia, Thailand, Malaysia, and the Philippines increased to more than 16% in 2014. This channel offers a wide range of products to consumers under one roof. Furthermore, frequent discount offered by these outlets for the promotional purpose also benefit consumers,” says Manjunath Reddy, a lead analyst at Technavio for food research.

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Global date palm market: competitive vendor landscape

The global date palm market is rapidly changing because of changing demands, preferences, and spending patterns of the consumer. Due to the increase in health-conscious consumers, this industry has been impacted positively. Additionally, the change in economic conditions are affecting customer's living standards and could also affect the business of vendors. The global date palm market is highly fragmented because of the presence of many small and large market players. Manufacturers compete to meet consumers' requirements and increase their market reach.

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Other topics covered in the report:

Market drivers:

• Health benefits associated with date palm
• Increasing use of date palm and ethnic snacks

Market challenges:

• Low yield due to fungal diseases and pest in date palm plantation
• Shortage of quality date palms

Market trends:

• Increasing demand for organic dates
• Rise in demand for Fairtrade certificate

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