Market Size of Global Plant Stem Cell Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.20 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Plant Stem Cell Market Analysis
The plant stem cell market is expected to grow at the registered CAGR of 8.2% during the forecast period, 2022-2027.
Since the emergence of COVID-19, there has been an increase in demand for nutritional products, as proper nutrition is required for proper immunity. The demand for cosmetics has increased among both men and women, which is expected to propel the plant stem cell market forward. According to the study titled "Natural Plant Products: A Less Focused Aspect for the COVID-19 Viral Outbreak," published in Plant Biotechnology in October 2021, despite prior good reports of plant-based treatments, there have been no successful clinical studies of Phyto-anti-COVID therapies to yet. Thus, hampering the market growth in COVID-19. Moreover, according to the study titled "Use of medicinal plants for COVID-19 prevention and respiratory symptom treatment during the pandemic in Cusco, Peru: A cross-sectional survey" published in the PLOS Journal in September 2021, found that mesenchymal stem cells (MSCs) and their exosomes (MSCs-Exo) can considerably reduce the risk of lung damage caused by alveolar inflammation and related pathological states, such as the one seen in COVID-19 patients.
The cosmetic industry has increased its demand for plant stem cells due to the numerous benefits they provide, such as whitening, tanning, moisturizing, washings, and skin rejuvenation. According to the study titled "Stem cells and the pursuit of youth, a tale of limitless possibilities and commercial fraud," published in the World Journal of Biological Chemistry in July 2021, online direct-to-consumer marketing of stem cell therapies in Japan, 83 % of websites in the Japanese online stem cell market promoted cosmetic procedures, compared to only 14% in the United States. Also, companies in the cosmetic industry are investing more in the research and development of new stem cell products and applications due to increased demand. As a result, the global plant stem cell market is expected to grow as demand for anti-aging, hair care, and skincare products rises. Because male consumers are becoming more interested in cosmetics and aesthetics, the market is expected to grow shortly.
Furthermore, increased product launches containing plant stem cells for topical use helps to protect skin stem cells from aging, which aids in the growth of the plant stem cell market. In March 2020, Mibelle Biochemistry's launched the PhytoCellTec Malus Domestica Hair, a plant stem cell active ingredient targeted to human hair stem cells. The technology reportedly protects hair stem cells against premature aging and loss. Additionally, in April 2019, Tremotyx Biomedical Lab released an over-the-counter eczema treatment based on plant stem cells. This new aloe vera-based treatment will benefit millions of eczema sufferers in the United States.
However, the high operational costs associated with extracting and manufacturing plant stem cell products are expected to limit the plant stem cell market's growth.
