Dates Market Report 2024 (Global Edition)

Market Dynamics of Dates Market

Key Drivers

• Rising Awareness towards Health Benefits of Dates is driving the Market

Dates contain high nutrition which is very good for human health. As, they are also rich in source of vitamins and minerals, which include iron, Vitamin B, Copper, Magnesium, and fiber. Dates are healthy substitute for processed sugars because they are having good amount of antioxidants., fiber and potassium. Dates also known to contain a high fiber content of 7 grams per serving, which is similar to the same amount of fiber that is obtained from a cup of whole cooked wheat pasta or just under a half cup of lentils.
The regular use of dates has been found to be beneficial in reducing the IL-6 level and helps in reducing the risk of developing brain degenerative conditions like Alzheimer’s Eating dates benefits women by increasing the likelihood of natural labor, reducing the complications associated with cesarean deliveries In-depth studies about dates revealed that the presence of a compound called beta D glucan in dates is very advantageous in promoting an anti-tumor activity within the body. The dates also help in fighting with diabetes which most common disease around the world. Dates have the ability to increase the production of insulin and also has several properties that can help reduce the rate of absorption of glucose from intestine. 
(source https://pharmeasy.in/blog/20-health-benefits-of-dates-and-date-recipes/ )
The dates Market is having a significant growth due to its demanding nature and create a healthy market due to its wide range and product offerings which helps the individuals to boost the health.

• Growing focus on Research and Development in order to drive the Global Production of Dates-

The global date production requires various research and development in the process because it requires high knowledge and analysis of producing the dates to understand the demand of the dates which is rising in the industry. The research part in this industry includes technologies adopted by various companies to produce best and even enhancing the quality of dates as well. The dates market ranges in wide variety which consists of technologies and the development part of that and it combines various technologies for that. 
In May 2021, the National Center for Genetic Engineering and Biotechnology (BIOTECH-NSDTA), a research Centre in Thailand, and P Solution Company Limited formed a collaborative project to develop huge propagation technology for date palms.
The new technology uses a combination of tissue culture and bioreactor system. This method on the application of advanced technology to improve the production of economic crops and even help farmers and growers by decreasing the cost of production. The enhancement on the research and development part on Date market plays a very crucial role as there is high number. The Dates market differs according to the location because it includes various factors like climate, soil, water factor, etc. which includes research for the development of Dates and the quality as well.

• Expansion of retail and E-Commerce platforms helps to get easily available of dates and thus, boosts the Market

The availability of Dates is now easy on retail outlets, online websites, and even franchise shops of Dates. The types of Dates available in the market depend upon the supply from the manufacturer end’s and it will be according to the current demand of market. The supply of dates is from Gulf region to other countries and then it decided by buyer to make it available on offline store, online store, and on own brand model i.e. franchise. Due to high energy giving fruit date is in demand and that’s why online grocery stores make it available in the website or app so that it gets delivered fastly according to the customer. The presence of high retail and online websites in the market the companies are generating high revenue and make their products available in the market spaces 
The demand of Dates is got directly proportional to the availability of the traffic coming on the online websites or apps who are dealing in the FMCG industry and having a proper market space for Dates market and thus, it boosts the market from back side which is very essential for the growth.

Restraints

• Price fluctuations in Dates hamper the Market growth

The prices of Dates differ from variety to variety. The expensive Date is Medjool Date which is very soft and juicy. The reason behind its expensive part is that they are harvested individually by hand rather than in enormous clusters. The dates prices not only hamper who are purchasing but also to the different types of dates available in the market. The price factor is the major constraint due to which sometimes the market gets disturbed. The supply of dates in the market is considered to be the price factor as well because some dates is not available in every season. The crop conditions decided the price rate sometimes because their fertility rate or quality helps to grow the Date faster and with better taste. 
The transportation cost engaged while importing or exporting through ships to various countries is considered to be the price fluctuation reason. As there is high import or export duties spend while transporting the Dates to other countries. The competitor's price in the market is a point which company takes care while deciding the price of a Date because without taking care of it the manufacturer will suffer loss or have to do the business by bootstrapping. 
The dates market suffers high credit transactions due to the availability of competitors in the market and the availability of various other products of the Date Market which at the end hampers the market growth.

• Seasonal availability of Dates in the market is a major restraint of Dates Market

The availability of dates in the market depends upon the season in which it is present because the Dates are not available every time in the market and have a limited growing credibility. These are the fruits that are grown on Date Palm, in the regions of North Africa, Middle East, and California. Certain types of dates is available in the market according to the season in which they create demand and supply. This minimum availability creates a challenge to both the producer and buyer. 
Producers must carefully take care of farming the Dates in the soil to make a proper or smooth flow of supply in the market. This is only possible when there is a proper demand of exact Dates in the market. Medjool dates start ripen in late July and will continue to ripen through late September. 
A date palm can take around 4 to 8 years after planting before they can bear date fruits, and start producing viable amounts for vast harvest between 7 and 10 years. It mostly begins to bear in April or May. Dates are nearly ripened in six to seven months and are harvested from September through December.
(source https://kouroshfoods.com/articles/season-of-dates-fruit-for-fans-of-super-healthy-diets/ )
Seasonal availability of Dates possesses the restraint on the market by making an impact on Demand and supply of Dates.

Opportunities

• The Organic and Sustainable Production of Dates creates an opportunity for the Market

The Dates is an organic product which got developed in a tree without any chemical preservatives and having a natural taste which is in the demanding stage of an individual. It provides a valuable and advantageous opportunity for the market to align with the growth of consumer demand. It involves farming of Dates without including synthetic pesticides, herbicides, or fertilizers and practices to make without any major global impact. Consumers are becoming more health-attractive towards the products and that’s why they are looking for organic products like Dates.
Market opportunity also rises from the pricing factor because the pricing range of organic products are high so that’s why consumers are ready to pay high prices which will create a demand in the market. This thing creates a space in the market for manufacturers to make premium or high prices for customers so they make high profits too.
The organic and sustainable Dates product is creating opportunity while taking care of Consumer’s taste and preferences according to the demand available in the market. 

How did COVID-19 impact the Market

The global Dates Market was affected by the COVID-19 pandemic as it has created a medical emergency, due to which the demand for food items, hygiene products, and medical products increased. The lockdown, and travel restrictions cause delays in the exporting of dates in the market. 
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 expected to see a massive influence of the COVID-19 pandemic in 2021, as the fourth wave of the pandemic has exacerbated the supply-demand gap.
(source https://finance.yahoo.com/news/date-market-growth-trends-covid-154500697.html? )
The pandemic heightened awareness of the importance of a nutritious diet leading to an increased consumption of dates as a natural source of vitamins, minerals, and antioxidants. The market not only benefits the local market but the global market as well due to increasing high demand in the market. The Date market got impacted by COVID-19 due to restrictions imposed in the countries and their trade policies which are developed at that time. However, nonessential products like Coffee, Pastries, packaged foods, milkshakes, chocolates, cheese and other bakery-related products have seen a decline in their sale. But the Date market has not been affected as severely as other processed food markets, the implementation of lockdown in various countries has obstructed the production and supply chain of dates. 
The date market in covid plays a diversified role in FMCG sector due to its high demand as its contain high nutrition, vitamins which boost the energy level of an individual and help them to create a healthy diet in the pandemic.
 

With the help of the above study about the Date Market, we can conclude that the Date market is about to mark a growth in the near future and they will have to focus on the quality of making the Dates and even choosing the best sustainability methods. It provides the data regarding various topics and allows the individual to read and understand the given data about the market and industry. With its rich nutritional profile and versatile applications, dates continue to gain popularity among health-conscious people around the world.

Frequently Asked Questions