US Date Market in 2023
With the rising demand for organic snacks that provide ideal nutritional benefits and have a long shelf-life, the global and US market for dates has experienced significant growth over the last couple of years. According to a report by ResearchAndMarkets, the global date market in 2020 was valued at 8.8$ billion, and experts predict that the number could reach a whopping 12.3$ billion by 2027. Furthermore, with the US being one of the major consumers, the US date market in 2022 was evaluated at 2.2$ billion, with a constant increase in growth. In fact, the report also states that the market could reach up to 2.6$ billion by 2025. Today, we’ll be giving you a deeper look into the statistical data for the US date market, focusing on production, import and export, consumption, and growth.
While not being one of the powerhouses in the yield of dates compared to its Middle Eastern counterparts, the US still managed to increase its production in the last year, reaching record numbers. Mainly, the value increased by 6,8%, according to IndexBox, specifically, per the date of USDA’s National Agricultural Statistic service, the dates production in the country was estimated at 35 million pounds. This is quite a noteworthy surge, considering the estimated 31 million pounds less in 2015.
Import & Export
Where the US lacks in production, it definitely excels in the import of dates. While the numbers peaked in 2015, the rates declined in the last two years. However, as the demand increased, Tridge reports that dates import volume reached 26,78 million metric tons in 2021, a 16% increase compared to 2020.
In addition, due to growing production, the US also managed to raise its export rates as well. Furthermore, IndexBox also states that the value of exported dates has skyrocketed in the last two years, with the price being the highest in India and Mexico – the lowest. To put it factually, the exports were valued at 29$ million, with Canada being the largest date market.
After the pandemic, more people started looking into healthy alternatives for snacks, with dates making it to the top of the list almost every single time. Therefore, consumption has greatly increased over the last three years, reaching peak numbers. To put it more precisely, IRI, a market research firm, reported that the sales of dates in retail stores across the US increased by 17%. Since more health experts are turning to dried fruits for nutritional diets, the consumption rate is expected to grow even more in the following years.
With the growth of the date market in the US, an increasing number of date-based products and brands have started to appear more frequently. Companies have expanded their selection to offer various kinds of dates, including products that contain them, like spreads and protein bars. As a result, the country is expected to have a flourishing market with no signs of decreasing in the coming years.
We hope that our research provided a clear look into the statistical data of the US date market in 2022. With the presented results, it’s safe to say that dates aren’t going away for a very long time! To read more interesting articles on scrumptious and highly nutritious dried fruit, check out the rest of our blog.