Global Plant Tissue Culture Market Expected to Ride on its Pandemic-Period Resilience and Grow at a Stunning CAGR of 6.4% in the 2022-2031 Period [240-Pages] | Analysis by Research Dive

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Research Dive

22 Mar, 2023, 14:01 GMT

NEW YORK, March 22, 2023 /PRNewswire/ -- The global plant tissue culture market is expected to grow due to the increasing adoption by farmers to produce disease-resistant plants. Agriculture sub-segment is expected to flourish immensely. The Asia-Pacific region is likely to lead the market.

Global Plant Tissue Culture Market Forecast Analysis:

As per the report published by Research Dive, the global plant tissue culture market is expected to register a revenue of $2,202.9 million by 2031 and grow at a CAGR of 6.4% during the forecast period 2022-2031.

Segments of the Plant Tissue Culture Market

The report has divided the market into the following segments:

Type: instruments, media & reagents, and consumables

Application: plant research, agriculture, forestry, appliances, and others

Crop Type: ornamental plants, agricultural plants, wooden plants, and others

Region: North America, Europe, Asia-Pacific, and LAMEA

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Segment

Sub-Segment

Type

Media & Reagents– Most dominant market share in 2021

Media and regents play an important role in providing essential nutrients and growth factors for the development of plant tissues. This utility of media and reagents is expected to augment the growth of this sub-segment.

Application

Agriculture– Most profitable in 2021

Growing demand for high-quality and genetically uniform crops is predicted to boost the growth of this sub-segment in the forecast period.

Crop Type

Agriculture Plants – Highest market share in 2021

The use of plant tissue culture as a means to study genetic makeup and growth patterns of plants to produce high-quality and disease resistant crops is expected to be the main factor behind the growth of this sub-segment.

Region

Asia-Pacific – Most lucrative in the forecast period

Growing demand for high-quality ornamental plants in this region is predicted to propel the market in the forecast period.

Dynamics of the Global Plant Tissue Culture Market

Growing adoption of plant tissue culture by farmers to produce high-quality, disease-resistant plants is expected to become the primary growth driver of the plant tissue culture market in the forecast period. Additionally, increasing governmental support has led to an increase in the number of plant cell culture labs which is predicted to propel the market forward. However, according to market analysts, limited production capacity over plant tissue culture might become a restraint in the growth of the market.

Increasing demand for food and biofuel sector is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, growing demand for organic and non-GMO products is expected to propel the market growth in the coming period.

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COVID-19 Impact on the Global Plant Tissue Culture Market

The Covid-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The plant tissue culture market, however, was moderately impacted due to the pandemic. Though the market suffered a setback due to disruptions in global supply chains, the growing awareness among people during the pandemic regarding the importance of plant-based products helped the market grow during the pandemic period.

Key Players of the Global Plant Tissue Culture Market

The major players of the market include

  • Alpha Laboratories
  • Australis Capital Inc.
  • Phytoclone Inc.
  • Agriforest Bio-Technologies
  • Labland Biotech Private Limited
  • Rubi Bio LLC
  • Booms Pharm
  • Phytotech Laboratories Inc.
  • Merck KGaA
  • Caisson Laboratories Inc.

These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain the market growth.

For instance, in March 2022, AgriFORCE Growing Systems, a global agriculture technology firm, announced that it had signed an agreement to acquire Deroose Plants NV, a leading plant tissue culture propagation company. This acquisition is expected to increase the footprint of the acquiring company in the market in the coming period.

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What the Report Covers

Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)

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About Research Dive

Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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