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Plant stem cells have the potential to differentiate into other cell types while maintaining genetic stability. They play a key role in plant growth, development and healing of damaged tissues. Stem cell therapy products derived from plant stem cells help treat skin conditions and boost skin rejuvenation.
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 key trends:
One of the key trends in the plant stem cell market is the increasing adoption of natural and organic personal care and cosmetic products. Consumers are growing more conscious about the ingredients used in personal care products and prefer organic and natural ingredients over synthetic ones due to rising health concerns. This is driving the demand for plant-derived stem cell skincare products as they do not contain any toxins and are gentle on sensitive skin. Companies are increasingly focusing on developing natural and organic stem cell therapy products for skin treatment and anti-aging, which is expected to support the market growth over the forecast period.
SWOT Analysis
Strength: Plant stem cells are known to have ant aging properties which help in skin rejuvenation. They possess properties like antioxidants which help fight free radicals.
Weakness: Plant stem cell products are costlier than regular skincare products. Availability of more affordable alternatives can restrict market growth.
Opportunity: Rising demand for natural and organic skincare products provide an opportunity for plant stem cell products. Increasing skincare and beauty consciousness also boosts market potential.
Threats: Stringent regulations associated with clinical trials and product approval can delay market entry. Competition from other new technologies also poses a threat.
Key Takeaways
The global plant stem cell market size is expected to witness high growth, exhibiting CAGR of 8.9% over the forecast period, due to increasing awareness about anti-aging skincare products. The growing middle class demographic with higher disposable incomes also favors market expansion.
North America dominates the global plant stem cell market owing to rising health and wellness consciousness. The Asia Pacific region is expected to witness fastest growth in the coming years led by countries like Japan, China and South Korea. Growth in these countries can be attributed to improving living standards and changing lifestyles.
Key players operating in the plant stem cell market are Oriflame Holding AG, MyChelleDermaceuticals LLC, Natura Therapeutics Inc., Aidan Products LLC, Mibelle Biochemistry, Phyto Science SDN BHD, and Renature Skin Care Inc. Players are focused on achieving a competitive edge through new product launches and strategic collaboration activities.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
