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| Plant Stem Cell Market |
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 Overview:
Plant stem cells are beneficial biological components extracted from plants
that aid in maintaining healthy, youthful skin. They boost collagen production,
delay skin aging, hydrate skin, reduce pigmentation and sun damage, heal acne
scars, and soothe inflamed skin. With growing consumer awareness about the
harmful effects of chemicals in cosmetic products, the demand for organic and
natural skin care products containing plant stem cells is increasing globally.
Market key trends:
One of the major trends driving the growth of the plant stem cell market is the
increasing adoption of organic and natural skin care products. Consumers are
becoming more health-conscious and aware of the benefits of using products
containing natural ingredients. They prefer formulations with plant stem cells,
vitamins, antioxidants, oils, and other natural extracts over synthetic
chemicals due to potential side effects. Moreover, plant stem cells have
anti-inflammatory, antioxidant, and wound-healing properties that help treat
various skin conditions like acne, pigmentation, and damage from UV exposure.
They form an essential ingredient in anti-aging creams, serums, and balms. The
demand for multi-functional natural skin care solutions is expected to foster
the market expansion during the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as it requires
high capital investment to set up research and development facilities for
developing new plant stem cell based products. However, patent rights and
proprietary technologies help incumbents maintain their competitive positions over
new entrants.
Bargaining power of buyers: The bargaining power of buyers is moderate as they
have various alternatives available in the market from different brands.
However, brand loyalty and quality of products give some bargaining power to
buyers.
Bargaining power of suppliers: The bargaining power of suppliers is low as
plant stem cells are widely available from different plant sources. Suppliers
do not have much control over pricing due to easy availability of raw
materials.
Threat of new substitutes: The threat of new substitutes is low as plant stem
cells have distinctive benefits over synthetic ingredients. However, new
advanced technologies can pose threat of substitution in future.
Competitive rivalry: Competition is intense due to presence of numerous players
offering similar products.
SWOT Analysis
Strength: Plant stem cell based cosmetics offer anti-aging benefits and treats
various skin conditions effectively. They have natural properties and minimal
side effects.
Weakness: High research and development costs involved to develop new plant
stem cell based products. Limited awareness among consumers regarding benefits.
Opportunity: Growing geriatric population worldwide and increasing adoption of
natural and organic personal care products present lucrative opportunities.
Threats: Stringent regulations associated with clinical trials and product
commercialization. Economic slowdowns can impact market growth.
Key Takeaways
The global Plant
Stem Cell Market Share is expected to witness high growth, exhibiting CAGR of 8.9% over the forecast period,
due to increasing consciousness among consumers regarding benefits of natural
ingredients. The market size for plant stem cell based products in 2023 is
estimated at US$ 404.57 Mn.
Regional analysis - Asia Pacific region dominated the global market in 2022 and
is expected to maintain its leading position during the forecast period. This
is attributed to growing elderly population, increased disposable incomes, and
rising awareness about anti-aging products in countries like China and India.
Key players - Key players operating in the plant stem cell market are Oriflame
Holding AG, Phyto Science SDN BHD, Natura Therapeutics Inc,
MyChelleDermaceuticals, LLC, Mibelle Biochemistry, and Renature Skin Care Inc.
Major players are focused on new product launches, partnerships, and expansion
in emerging markets to strengthen their market presence.
Read More,
https://www.newsstatix.com/plant-stem-cell-market-trends-size-and-share-analysis/
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