by The 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 stem cells found in various plant species that have the ability to differentiate into specialized cell types. They play a crucial role in plant growth and development. Stem cells derived from plants such as Aloe vera, grapes, and orchids are commonly used in various skincare and cosmetic products due to their antioxidant and anti-aging properties. They help improve skin elasticity, stimulate collagen production, reduce signs of aging, and moisturize the skin. Plant stem cells are also used in nutraceuticals due to their healing and regenerative properties.
Market Dynamics:
Rising consumer awareness about the health and skincare benefits of natural and organic ingredients is driving the demand for plant stem cell-based cosmetic and nutraceutical products. According to a survey, over 70% of consumers prefer cosmetic products containing natural ingredients over conventional chemical-based products. Additionally, the increasing geriatric population prone to aging signs such as wrinkles and fine lines is also positively impacting the plant stem cell market growth. Over 55% of the US population will be aged above 65 years by 2030, according to the United Nations, thereby generating high demand for anti-aging products.
Segment Analysis
The plant stem cell market can be segmented by type into shinorine, lumina-pd and others. Among these, the shinorine segment dominates the market and accounts for around 60% share owing to its wide range of anti-ageing benefits such as reducing fine lines and wrinkles, regenerating skin cells, improving skin texture and tone.
PEST Analysis
Political: There are no significant political risks impacting the plant stem cell market currently.
Economic: The rising disposable incomes and growing demand for anti-aging products are driving the economic growth of this market.
Social: Increasing social acceptance of plant stem cell based cosmetic products along with the growing health and beauty consciousness is fueling the social factors.
Technological: Advancements in biotechnology for efficient extraction of stem cells from plants and their application in cosmetic products is a major technological driver.
Key Takeaways
The global Plant Stem Cell Market Share is expected to witness high growth, exhibiting CAGR of 8.9% over the forecast period, due to increasing health and beauty consciousness among consumers. The market size is projected to reach US$ 842.31 Mn by 2030 from US$ 404.57 Mn in 2023.
Regional analysis: Asia Pacific dominates the global market and is anticipated to maintain its lead over the forecast period, owing to rising population, improving living standards and increasing adoption of anti-ageing skin care products in countries like China and India.
Key players operating in the plant stem cell market are Oriflame Holding AG, Phyto Science SDN BHD, Natura Therapeutics Inc, MyChelleDermaceuticals, LLC, Mibelle Biochemistry, and Renature Skin Care Inc. These players are focusing on new product launches and partnerships to strengthen their market position. For instance, in 2022, Mibelle Biochemistry launched a new product range based on stem cells from rice extracts.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
