Majorly driven by application in food & beverages, cosmetics & personal care, and feed industries, global tissue cultured date palm market surpassed a value of US$ 4.5 Bn in 2019. The market is further projected for a robust growth outlook through 2027.
Key Takeaways – Tissue Cultured Date Palm Market Study
- Tissue cultured date palm plants have ability to establish large scale farms in a shorter period of time than traditional methods. Use of tissue cultured date palm plants increases the efficiency of farming, lowers cost and makes operations more profitable to farmers. Due to these factors, the demand of tissue cultured date palm plants is increasing rapidly.
- Consumers are becoming conscious about the source of the raw material used in the end product and the need for high quality products. Tissue cultured date palm plant is healthy and disease free plant and is obtained from known source.
- Tissue cultured date palm plants produce high quality fruits as compared traditional plants due to which their demand is increasing in the food and beverage industry.
- In the North America, the demand for Medjool is increasing rapidly because tissue cultured date palm is used as an ornamental plant in subtropical and tropical climates, such as those in southern California and Florida. These trees are commonly seen along roadsides, parking lots and shopping centers. The demand for elite variety of Kutch is more as compared to other varieties across the globe which manufacturer only in Asia Pacific.
- The Middle East and Africa holds major share in the tissue cultured date palm market. A large number of players are entering the tissue cultured date palm market in the Middle East and Africa. Date palms are known as wonder tree of the dessert. Weather in the MEA is suitable for the tissue cultured date palm plants due to which the production of tissue cultured date palm is more in MEA than any other region.
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Tissue cultured date palm plant increases the production capacity of the fruits as well it is season-free and produces extremely high quality products due to which its demand is increasing across the globe. The use of tissue cultured date palm is economical as compared to traditional method.
M&A and Online Retail – Key Winning Imperatives
The global tissue cultured date palm market is primarily characterized by the presence of a large number of local and regional players. Local players account for a fair share of 15-20%. The global tissue cultured date palm market is characterized as highly organized in developed and developing economies. The key players operating in the tissue cultured date palm market are focusing on launching different varieties of tissue cultured date palm to expand their customer base.
Manufacturers of tissue cultured date palm are investing in research and development to expand their product portfolio. Major players of tissue cultured date palm are focusing on offering different varieties of tissue cultured date palm plants. Very few players use ecommerce website to sell their products. Players should therefore focus on utilizing the power of online channels to increase their sale, to increase their brand awareness and to increase their consumer base. Manufacturers in the tissue cultured date palm market are investing in the mergers, acquisitions and strategic joint venture to increase their geographical presence and production capacity.
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Know More About the Tissue Cultured Date Palm Market Report
Future Market Insights, in its new offering, provides an unbiased analysis of the global tissue cultured date palm market, presenting historical demand data (2013-2018) and forecast statistics for the period from 2019-2027. The study divulges compelling insights on the tissue cultured date palm based on the Nature (male inflorescences and female inflorescences), variety (medjool, barhi, deglet noor, male barhi, elite varieties of Kutch and others) across seven major regions.
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