by The global Plant Stem Cell Market is estimated to be valued at US$ 404.57 Mn in 2023 and is expected to exhibit a CAGR of 8.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Plant stem cells are undifferentiated cells found in plants that have the ability to differentiate into specialized cells and tissues. They are capable of continuously dividing and replenishing other plant cells. Plant stem cell products provide anti-aging benefits through hydration, cell repair, and renewal. They help moisturize the skin and reduce fine lines, wrinkles, and age spots. Owing to their regenerative properties, plant stem cell cosmetics are extensively used in anti-aging creams, serums, and gels. Increasing consumer preference for herbal and botanical ingredients in cosmetics is a major factor driving the demand for plant stem cell based products.
Market key trends:
One of the key trends in the plant stem cell market is the increasing use of advanced extraction techniques. Earlier, toxic solvents were used to extract active ingredients from plant stem cells. However, using advanced techniques like supercritical CO2 extraction helps obtain cleaner, purer, and more potent extracts while eliminating toxic residues. Another major trend is the development of multifunctional products integrating plant stem cells with other ingredients like peptides, hyaluronic acid, vitamins, and minerals to achieve anti-aging benefits. Manufacturers are focusing on the clinical efficacy of their products through scientific validation. This is improving the consumer confidence in plant stem cell based cosmetics.
Porter’s Analysis
Threat of new entrants: Low capital requirements and availability of advanced technologies reduce barriers for new players to enter the plant stem cell market.
Bargaining power of buyers: Individual customers have low bargaining power due to availability of substitutes, whereas large hospitals and cosmetic companies enjoy higher negotiating power.
Bargaining power of suppliers: Few technology providers and raw material suppliers have significant control over pricing, leading to high bargaining power.
Threat of new substitutes: Ongoing R&D introduces novel production methods and ingredients that can reduce demand for traditional plant stem cell products.
Competitive rivalry: Global players compete on the basis of innovation, cost, quality, and brand image.
Key Takeaways
The global Plant Stem Cell Market Share is expected to witness high growth, exhibiting a CAGR of 8.9% over the forecast period 2023 to 2030, due to increasing demand for anti-aging products and rising geriatric population globally. The market size for 2023 is estimated to be US$ 404.57 Mn.
Regionally, Asia Pacific dominates the global market and is estimated to grow at the fastest rate during the forecast period. Abundance of raw materials, expanding cosmetic industry, and growing middle-class population contribute to the regional market growth. China, Japan, and South Korea are the major markets in the region.
Key players operating in the plant stem cell market include Oriflame Holding AG, Phyto Science SDN BHD, Natura Therapeutics Inc, MyChelleDermaceuticals, LLC, Mibelle Biochemistry, and Renature Skin Care Inc. Major companies are focusing on new product launches and innovating their formulation and delivery systems to cater to evolving consumer demands.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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