Plant Stem Cell Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Plant Stem Cell Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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.

Key Market TrendsCosmetic 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.

Competitive Landscape

The plant stem cell market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. The presence of major market players includes Oriflame Holding AG, MyChelleDermaceuticals LLC, Natura Therapeutics Inc., Aidan Products LLC, Mibelle Biochemistry, Phyto Science SDN BHD, and Renature Skin Care Inc.

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