In 2022, The Global Plant Stem Cells Market revenue was US$ 371.4 million and is projected to attain a valuation of US$ 801.9 million by 2031, growing at a CAGR of 8.93% during the forecast period from 2023 to 2031.
The plant stem cells market is still emerging, constantly updated with new developments and studies exploring their potential. This rise in demand is a result of rapidly expanding industries mainly cosmetics and pharmaceuticals using plant stem cells’ capacity for regeneration. This product helps the end-users to improve their product quality and capture the attention of consumers. As a result, a large number of manufacturers are including plant stem cells in their product formulations to get the desired result. In line with this, the market has witnessed tremendous growth in research and development activities to explore growth potential and revenue opportunities in products that are used for skin regeneration, whitening, tanning, moisturizing, and cleansing.
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As per the recent report published by Astute Analytica the global cosmetics market was valued at US$ 262 billion in 2022 and will witness the highest CAGR of 4.3% during the projected period. Also, the cosmetic industry is contributing more than 47% of revenue to the global plant stem cells market. As per our recent survey on consumer trend analysis, it was found that 65% of customers globally prefer cosmetic chemicals originating from plants. Thus, demonstrating a substantial shift in end-user behavior. In line with this, prominent businesses namely Oriflame, Mibelle AG Biochemistry, EJO Skin, etc., use plant stem cells in their products.
Shift in Trends: Manufacturers Obtaining Ethically Sourced Plant Stem Cells
It was prominently observed that over 63% of customers globally showed concern about the origin of plant stem cells utilized in products and their potential effects on the environment. As a result, manufacturers have started taking steps to meet the consumer demand for ethical sourcing and biodiversity protection. For instance, the market witnessed more than 25% growth in the companies that have opted for certificates for products that were sourced ethically in 2022. Unhwa Corporation, Stempeutics, and STEMCELL Technologies are some of the companies that obtain plant stem cells ethically. Additionally, eco-friendly sourcing is used in products like PhytoCellTecTM Goji and Patagonia Berry Stem Cell Mask.
Asia Pacific Contribute Over 23% of Revenue Share: Making it a Largest Market
The Asia Pacific plant stem cells market accounts for nearly 23% of revenue share. Also, the region contributes 9% of annual growth to the market, with China, South Korea, and India being the main contributors.
Comparing Asian cosmetic firms to their Western counterparts on a global scale, the inclusion of products derived from plant stem cells has increased by 20%. Asia Pacific is now a huge contributor to the market expansion as this is consistent with the cultural preference for botanical ingredients.
According to our recent survey on consumer analysis, an astounding 80% of Asians still use traditional herbal treatments. In line with this, the cultural proclivity is driving the acceptance of plant stem cell products. It has been observed that consumers are ready to pay premium price for buying cosmetics products having plant stem cells. For instance, the cost of a tomato anti-oxidant cream is US$ 10, while a stem cell anti-oxidant cream, which contains extracts from tomato plant stem cells, can be priced at US$ 50, even though both creams have the same fundamental ingredients. This increase in commercialization opportunities has fueled the industry’s interest in creating additional stem cell products and services directly marketed to consumers.
- In terms of location, root apical meristems emerge as a dominant segment by accounting for 69% of the market revenue in 2023. The segment will grow at a CAGR of 9.02% during the forecast period.
- In terms of application, the cosmetics segment emerged as a leader, generating 47% of the revenue share of the global plant stem cells market.
- In terms of end-users, pharmaceutical and biotechnology companies are the primary end-users of plant stem cells. The segment holds Over 60% of the market’s revenue share.
- In terms of region, North America controls about 53% of the global market revenue share. Particularly, the U.S. has appeared as a leading powerhouse.
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List of Key Companies
- Aidan Products LLC
- AllCells, LLC
- Intelligent Nutrients
- International Stem Cell Corp.
- Juice Beauty
- L’Oreal S.A.
- Mibelle Biochemistry
- MyChelleDermaceuticals LLC
- Oriflame Cosmetics Global SA
- PhytoScience Sdn Bhd
- Vytrus Biotech
- Other Prominent Players
Key Strategies Adopted by These Key Players
- In August 2023, Cosmecca, a Korean beauty brand, and Vytrus Biotech, a Spanish supplier of cosmetic chemicals, have inked a contract. Under the terms of the commercial partnership, the businesses will investigate plant stem cell-based cosmetic ingredients.
- In May 2023, Derma E is a natural skincare firm that specializes in clean beauty. Their latest product is the Advanced Peptides & Flora Collagen Cryo-Gel Mask. This mask helps the skin heal and gets ready for daytime or nightly routine by delivering multi-peptides, Arginine, and Matrixyl Synthe 6 with Flora-Collagen plus Edelweiss Extract and Plant Stem Cells.
- In April 2023, Boston-based plant cell tech startup Ayana Bio announced the first-ever release of plant cell-cultivated echinacea and lemon balm components. These constituents can be used in supplement formulations for the immune system, sleep, and mood support.
- In March 2023, A prebiotic active component developed by Vytrus modulates the relationship between skin bacteria and sun radiation to combat microbial-induced photoaging.
The global plant stem cell market segmentation focuses on Location, Application, End-User, and Region.
- Root Apical Meristems
- Shoot Apical Meristems
By End User
- Pharmaceutical and Biotechnology Companies
- Research Laboratories
- North America
- The U.S.
- Western Europe
- The UK
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Western Europe
- Asia Pacific
- Australia & New Zealand
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Rest of South America
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