Market Trends of Global Plant Stem Cell Industry
This section covers the major market trends shaping the Plant Stem Cell Market according to our research experts:
Cosmetic by Application Segment is Expected to Dominate the Market Over the Forecast Period
Extracts obtained from plant stem cells are currently used in the production of both regular consumer and professional cosmetics, such as arbutin obtained from Catharanthus roseus (rose periwinkle) and pigments such as safflower and saflorin obtained from Catharanthus roseus (rose periwinkle).
According to the study titled "Plant stem cells and their applications, with a focus on commercially available products," published in the 3 Biotech in July 2020, Anti-aging lotions with plant-based compounds made from Mirabilis jalapa and the Indian gooseberry fruit Phyllanthus Emblica are among the latest cosmetics trends. In addition, plant cell culture is used to create several peppermint-based haircare products. Many cosmetic companies claim that their products contain stem cell technology. Thus, the extensive properties of the stem in the various cosmetics, as well as the technology adopted by the key players, are anticipated to boost the segment over the forecast period.
Furthermore, cosmetic product launches which are made up of plant stem cells are expected to boost the market over the forecast period. For instance, in May 2020, Vytrus Biotech, the company that specialised in plant stem cell culture for the cosmetic sector, launched a new biological deodorant ingredient that efficiently reduces body odor, DEOBIOME NONI (made from Morinda citrifolia plant stem cells). It consists of the first deodorant treatment that allows the axilla to perspire while avoiding bad odor generation while respecting the skin microbiota and the ecosystem. Therefore, due to these factors mentioned above, the cosmetics segment is expected to grow and occupy a major share in the plant stem cell market over the forecast period.
North America Dominates the Market and Expected to do Same in the Forecast Period.
North America dominates the plant stem cell market over the forecast period due to sophisticated technology that enables plant culture and component extraction research. In these developed nations, rising demand for naturally obtained products and more awareness also contribute to the growth of the plant stem cell market.
Rising the application of plant stem cells in various industries is anticipated to drive the market in the region. According to the study titled "Plant stem cell research is uncovering the secrets of longevity and persistent growth," published in The Plant Journal in September 2021, as a cosmetic product, stem cells have shown promise in reducing wrinkles in the crow's feet area of the face. Tomato cultivated stem cells from the plant Lycopersicon esculentum have shown promise in preventing heavy metal poisoning in the skin. Thus, the rising demand od plant stem cell in the cosmetics industry is anticipated to drive the market in the region.
The major market players are focusing on R&D activities to introduce new plant stem cell products in the market. However, to grow their product portfolio, major market players are focusing on various business tactics such as product launches. For instance, in March 2019, Mibelle Biochemistry introduced PhytoCellTec Goji, a new active component produced from goji plant stem cells. PhytoCellTec Goji improves exosome connection. Thus, all aforementioned factors are expected to boost the market over the forecast in the region.
