From centuries the date palm is referred to a “tree of life” and has the religious and historical preference. Date extract is a rich source of fibers, vitamins and other nutrients. It is rich in simple carbohydrates, ascorbic acids, folic acids, organic acids, iron, calcium, potassium, sulfur, biotin, riboflavin and thiamine. Date extract is a functional extract used widely in food and beverages industry for preparation of curries, salads, stews, mousse, cakes, muffin, ice cream smoothies, milkshake and other sweet and savory dishes. With natural flavor, no chemicals and no alcohols the date extract is the most preferred ingredient for fitness enthusiasts. There is a rise in the production of food supplements, nutritional bars & snacks, and functional foods are all set to witness unprecedented growth in date extract market.
Rising Demand for Date Extract
The demand for date extract is expected to increase as it contains important nutrient for the human body. Utilization of date extract as a dietary supplement is expected to boost the market demand. Date extract is expected to increase its demand as an alternative to artificial sweeteners. In a few culinary preparations, the date extract is also used as an alternative to vanilla extract. It is also used in personal and skin care products as it has antibacterial property and is abundant of antioxidants. With an increase in knowledge and awareness, the trend for clean labels has widely spread globally which has also increased in a number of health-conscious customers. Sustainable, eco-friendly, natural and organic products are in demand by consumers, so the manufacturers are compelled to cater to these products.
Date Extract Market Segmentation
On the basis of nature, the date extract market has been segmented as-
On the basis of form, the date extract market has been segmented as-
On the basis of end uses, the date extract market has been segmented as-
- Dietary supplements
- Food Service
- Household Use
- Food Industry
- Nutritional bars
- Milk shakes
- Personal Care
On the basis of distribution channel, the date extract market has been segmented as-
- Hypermarket / Supermarket
- Drug store
- Specialty store
- Online store
Date Extract Market: Key Players
The key players operating in date extract market are Nutricargo LLC., Synthite Industries Ltd., Amoretti Gmbh, Just Date Syrup, AOS Product Pvt. Ltd., SRS Aromatics Ltd., Natures Flavors Inc., Clarks UK Ltd., Graine De Vie LLC. Many manufacturers are focusing to enter the market, as there is increase in demand of date extract for its variety of applications in food and beverage industry.
Date Extract Market Opportunities
The date extract has a large number of health benefits but the absence of customer awareness about its benefits is hindering the development of the date extract market. Consumer awareness and educational marketing are important for the date extract market to grow. Manufacturers are expected to come up with various nutritional food products. Date tree and its products are important economically in North Africa and the Middle East. Hike in demand for dates and its products is expected to be beneficial for these countries. The organic products are in high demand globally therefore, the market for organic date extract is also expected to grow with its usage in food & beverages and personal care products. This will encourage the makers to extend their purchaser base, boosting the development of the date extract market.
Date Extract Market: Regional Outlook
The Middle East, Asia and Africa are the largest cultivators of dates, not only exporting the consumption of dates and its products is also high in these regions. These regions cover high production share of dates and its products. The easy availability of source in these regions is boosting the growth of the market. The market for date extract is expected to grow in North America and Europe due to an increase in demand for natural and organic food ingredients with an increase in knowledge and awareness of food safety.
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2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
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