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Plant stem cells contain genetic material with ability to regenerate and repair damaged cells and tissues. They are widely used in skin care products for their anti-aging properties. Stem cells from plants like aloe vera, ginseng and grape effectively reduce signs of aging like wrinkles, dark spots and fine lines. They stimulate skin’s natural regeneration process to restore youthful texture and tone. With growing health consciousness, demand for herbal and natural skin care products is increasing significantly. Plant stem cell products not only make skin soft and supple but also protect it from sun damage and pollutants. Their anti-inflammatory properties help treat various skin conditions like acne, eczema and psoriasis.
The global 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:
Rise in geriatric population suffering from age-related skin issues is a major factor fueling the plant stem cell market growth. According to the UN Population division, the number of people aged 60 years or over is expected to more than double by 2050 and reach nearly 2.1 billion. Older individuals are more prone to developing wrinkles, age spots and dry, fragile skin. This makes plant stem cell infused anti-aging products highly popular. Another key trend is the increasing adoption of herbal and plant-based skin care regimes inspired by traditional Asian beauty routines. Consumers are shifting from synthetic chemicals to natural ingredients to avoid side effects. Furthermore, growing health issues like eczema and psoriasis due to pollution, infections and allergies have augmented demand for plant stem cell products offering healing properties.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to large capital requirements for research and development. However, new companies can enter the market by offering innovative products.
Bargaining power of buyers: The bargaining power of buyers is high as the plant stem cell market has several established brands and products to choose from. Buyers can negotiate on price easily.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many suppliers providing raw materials required for plant stem cell products in the market.
Threat of new substitutes: The threat of substitutes is low as there are no direct substitutes for plant stem cell based products available in the market currently.
Competitive rivalry: High due to the presence of many international and regional players competing intensely on the basis of product quality, innovation, and price.
Key Takeaways
The global plant stem cell market is expected to witness high growth, exhibiting CAGR of 8.9% over the forecast period, due to increasing demand for anti-aging products and rising awareness about benefits of plant stem cells. The market size for 2023 is estimated to be US$ 404.57 Mn.
North America is projected to dominate the global plant stem cell market during the forecast period. This is attributed to increased adoption of products containing plant stem cells among millennials for skincare in the US. Asia Pacific is anticipated to exhibit the fastest growth rate over the next few years due to rising disposable incomes and growing millennial population in China, India.
Key players operating in the plant stem cell market include Oriflame Holding AG, MyChelleDermaceuticals LLC, Natura Therapeutics Inc., Aidan Products LLC, Mibelle Biochemistry, Phyto Science SDN BHD, and Renature Skin Care Inc. Oriflame Holding AG offers a range of skincare products containing plant stem cells under their brand SkinMilk for anti-aging of skin.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
