The tissue-cultured date palms market is expected to increase at a CAGR of 7.7% from 2022 to 2032, reaching a value of US$ 11.2 billion. The market for tissue-cultured date palms was valued at US$ 5.4 billion in 2022. According to recently released market analysis data from Future Market Insights, the demand for tissue-cultured date palms will increase by 7.4% year over year (Y-o-Y) in 2022.
Tissue-cultured date palm plants are of superior and uniform quality and are from a known and selected origin. Tissue-cultured date palm plants grow rapidly with negligible losses and produce a higher quantity of fruits as compared to traditionally propagated plants. Tissue culture technology enables the supply of tissue culture plants in large quantities at a planned date throughout the year, therefore it is known as season-free planting material. Tissue-cultured date palms are healthy and are more resistant to diseases. These factors continue to fuel the inclination of date palm cultivators toward tissue culture technology.
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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.
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.
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.
Frequently Asked Questions
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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