Plant stem cells are regenerative and multipotent cells capable of yielding other types of cells. They have anti-aging properties and are employed in various skin care and hair care products such as creams, lotions, serums, shampoos, and conditioners. Stem cell technology helps in slowing down the aging process, reducing wrinkles, improving skin elasticity, and preventing hair loss.
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 key trends:
The rising adoption of natural and organic skincare and hair care products is a key trend fueling the plant stem cell market growth. Consumers are increasingly preferring products with natural ingredients owing to growing health consciousness and concerns about side effects of chemical-based personal care products. Plant stem cells obtained from fruits, leaves, and flowers help in restoring skin health, reducing signs of aging, and strengthening hair follicles. They promote collagen production, cell renewal, and overall skin rejuvenation. Burgeoning cosmetic industry and growing awareness about benefits of plant stem cell-based anti-aging products are propelling the market expansion.
Porter's Analysis
Threat of new entrants: The plant stem cell market requires high RD investment and infrastructure which acts as a barrier for new companies.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitute products.
Bargaining power of suppliers: A few companies control the raw material supply market giving them significant influence over pricing.
hreat of new substitutes: Alternative anti-aging products pose minor threat.
Competitive rivalry: Fierce competition exists between established players.
SWOT Analysis
Strengths: Plant stem cells are non-controversial and pose no ethical issues. They are widely accepted by consumers.
Weaknesses: High costs associated with RD and commercialization. Requires specialized extraction and processing techniques.
Opportunities: Growing demand for natural and organic cosmetic products presents an opportunity. Emerging markets like Asia Pacific and Latin America offer high growth potential.
Threats: Stringent regulations related to stem cell use. Economic slowdowns can negatively impact the industry.
Key Takeaways
The global plant stem cell market is expected to witness high growth at a CAGR of 8.9% over the forecast period due to rising awareness about anti-aging solutions. The market size was valued at USD 404.57 Mn in 2023 and is projected to exceed USD 750 Mn by 2030.
Regionally, Asia Pacific dominates the global market and is projected to grow at fastest pace due to rising disposable incomes, growing middle class, and increasing preference for natural cosmetics in countries like China, India, and South Korea.
Key players operating in the plant stem cell market are Oriflame Holding AG, MyChelleDermaceuticals LLC, Natura Therapeutics Inc., Aidan Products LLC, Mibelle Biochemistry, Phyto Science SDN BHD, and Renature Skin Care Inc. Major players are focusing on new product launches, partnerships, and geographical expansion strategies to gain competitive edge.
