Elite Varieties of Kutch Emerging Highly Lucrative
Among the various varieties of tissue cultured date palm, medjool and barhi continue to be the most sought-after, with a collective market value share of more than 55%. However, male barhi variety that currently accounts for around 15% of total tissue cultured date palm sales reflects high growth potential.
Elite varieties of Kutch, in the other hand, are emerging highly attractive and their sales would exhibit a solid double-digit CAGR during projection period. High quality, popularity of date derived products, notable export records, and augmenting government efforts towards post-harvesting process will continue to fuel sales of elite varieties of Kutch date palm
MEA Remains Traditional Date Palm Market
Middle East & Africa (MEA) has been the traditional market for tissue cultured date palm. Asia, Oceania, and Europe, collectively capturing almost 2/5th of the global market value, would also remain among the key markets. While currently, MEA accounts for more than 35% of total sales tissue cultured date palm, there are strong indications that developed regional markets, particularly North America, would outpace MEA in terms of growth rate over the forecast period.
Increasing Acceptance in Lieu of Conventional Sugar
Being strongly promoted as superfood, excellent baby food ingredient, healthy snack alternative, and natural sweetener, date palm is also observing extensive traction from the landscaping sector. Increasingly positive consumer perception for tissue cultured date palm as a white or brown sugar alternative particularly underpins its demand as a natural sweetener in an array of packaged products. Its rich nutrient profile and antioxidant content position it as a preferred ingredient in nutrition bars, cereals, and oatmeal, as it eliminates the fattening component of conventional sugar. Bob’s Red Mill Natural Foods recently introduced Bob’s Red Mill date sugar, made from Deglet Nour dates, that can be used as an alternative for white or brown sugar.
How Growth will Unfold
Accounting for more than 60% of total sales of tissue cultured date palm, female inflorescences remain preferred over their male counterparts. However, the latter continues to be a popular choice of tissue cultured date palm among consumers of MEA, followed by those in North America. Sales of female inflorescences of tissue cultured date palm continue to witness notable growth in Asian and European markets.
FREQUENTLY ASKED QUESTIONS ABOUT GLOBAL TISSUE CULTURED DATE PALM MARKET
Which region will lead the global sales of tissue cultured date palm?
Middle East & Africa remains the largest shareholder in the tissue cultured date palm market. However, North America is expected to show higher growth. Manufacturers are focusing on expanding their geographical reach through the establishment of merger and acquisition and focusing on selling their products through online channel to increase their sale.
Which variety of tissue cultured date palm is highly lucrative in terms of growth opportunities?
Elite variety of Kutch is a local variety of Kutch in India. This variety is not present in any other place in the world even not in the major Middle East and Africa market. This variety of date palm produces high quality fruits. Due to the rare availability of elite variety of Kutch, the demand for this variety is increasing rapidly across the globe.
What is the degree of competition in the tissue cultured date palm market?
Rising demand for tissue cultured date palm and an increasing number of small, medium and large scale manufacturers across the world are the reasons behind the intense competition in the tissue cultured date palm market. To sustain their position in tissue cultured date palm market companies are focusing on manufacturing various types of tissue cultured date palms.
Which trend will drive the tissue cultured date palm market in the coming years?
Tissue cultured date palm plants grow rapidly with negligible losses and produce a higher quantity of fruits as compared to traditionally propagated plants. The demand for date palm is increasing in food & beverage, feed, and cosmetic industries which will complement the higher production of tissue cultured date palms in the near future
Will increasing price of tissue cultured date palm plants affect the future growth?
The awareness of the benefits associated with tissue cultured date palm is increasing across the world. The demand for high quality products is increasing and tissue cultured date palm produces superior quality fruits as compared to traditional method. The demand for date palm is increasing in food and beverage, cosmetic and personal care and animal feed industry. The increasing price of tissue cultured date palm won’t affect the growth in the future.
TISSUE CULTURED DATE PALM MARKET TAXONOMY
The global tissue cultured date palm market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
Nature
- Male Inflorescences
- Female Inflorescences
Variety
- Medjool
- Barhi
- Deglet Noor
- Male Barhi
- Elite Varieties of Kutch
- Others
Region
- North America
- Latin America
- Europe
- Asia
- Middle East and Africa
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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