PUBLISHER: The Business Research Company | PRODUCT CODE: 1539738
PUBLISHER: The Business Research Company | PRODUCT CODE: 1539738
Micropropagation is a plant propagation technique involving the cultivation of plants from small plant parts, such as tissue cultures, under sterile conditions. This method enables rapid production of large numbers of genetically identical plants, and is widely applied in agriculture, horticulture, and forestry for efficient plant multiplication and conservation.
The primary crop types suitable for micropropagation include bananas, orchids, ornamentals, medicinal plants, vegetables, small fruits, and others. Banana micropropagation specifically utilizes tissue culture techniques to generate substantial quantities of banana plants from minute plant tissue samples. These cultures are typically maintained in test tubes, petri dishes, glass bottles, or plastic containers, and are distributed through both offline and online channels. End users of this technology include farmers, research laboratories, and other stakeholders involved in plant propagation and agriculture.
The micropropagation market research report is one of a series of new reports from The Business Research Company that provides micropropagation market statistics, including micropropagation industry global market size, regional shares, competitors with a micropropagation market share, detailed micropropagation market segments, market trends and opportunities, and any further data you may need to thrive in the micropropagation industry. This micropropagation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The micropropagation market size has grown rapidly in recent years. It will grow from $1.39 billion in 2023 to $1.53 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth during the historic period can be attributed to several factors, including the demand for disease-free planting materials, efforts towards conservation of endangered species, crop improvement programs, globalization of agriculture leading to increased trade in plant materials, and growing awareness among growers about the benefits of using micropropagation for efficient plant production and conservation efforts.
The micropropagation market size is expected to see rapid growth in the next few years. It will grow to $2.26 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The projected growth in the forecast period can be attributed to several factors, including the emergence of new plant varieties, expanding applications in biopharmaceutical production, heightened focus on sustainable agriculture practices, growth in biofuel and biomass production, supportive regulatory frameworks, and advancements in intellectual property rights protection. Major trends anticipated in this period include the increased integration of artificial intelligence (AI) and automation technologies to enhance efficiency and precision in micropropagation processes, expansion into non-traditional crop species to meet diverse market demands, digitalization of micropropagation services for improved data management and analysis, expansion of contract micropropagation services to cater to specialized needs, and vertical integration within value chains to streamline production and distribution processes.
The micropropagation market is anticipated to grow due to advancements in horticulture. Horticulture involves cultivating plants for food, medicine, ornamentation, or aesthetic enjoyment and is expanding because of increased demand for diverse crops, sustainable farming practices, urban green spaces, and ornamental plants. This growth is driven by factors such as population growth, environmental concerns, and aesthetic preferences. Micropropagation plays a crucial role in horticulture by efficiently producing large quantities of disease-free plants with desired traits, ensuring consistency and genetic uniformity in crop production, ornamental gardening, and conservation efforts. For example, a report from the UK's Department for Environment Food and Rural Affairs in June 2024 indicated significant increases in the value of home-grown vegetables, field vegetables, and protected vegetables in 2023, underscoring the sector's growth and importance.
Leading companies in the micropropagation market are focusing on developing innovative products, such as propagation systems, to improve the efficiency and effectiveness of plant cloning and cultivation. Propagation systems encompass methods or techniques used to reproduce plants from seeds, cuttings, or other plant parts, enabling the production of genetically identical or varied individuals. For instance, NuPlant, an Australia-based biotechnology company, launched SmartClone in January 2023. This advanced plant tissue culture propagation system utilizes precision robotics to rapidly produce robust clones from parent material, tailored to specific growth phases. SmartClone aims to enhance plantlet quality and uniformity while reducing labor costs per plant.
In January 2022, Broad Sky Partners, a US-based private equity investment firm, acquired Thomas Scientific to strengthen its presence in the scientific equipment and supplies sector. This acquisition provides Broad Sky Partners with expanded market access, improved distribution networks, and increased market share. Thomas Scientific, based in the US, specializes in products related to micropropagation.
Major companies operating in the micropropagation market are Iribov BV, Phytocultures Ltd., Deroose Plants Inc., Phytelligence Inc., Alpha Laboratories Ltd., Oglesby Plants International Inc., Segra International Corp., HiMedia Laboratories LLC, AgriForest Bio-Technologies Ltd., Tissue-Grown Corporation, Lifeasible, Agribiotecnologia de Costa Rica S.A., Caisson Labs Inc., Galiltec S.A, Hartmann's Plant Company, Knight Hollow Nursery Inc., Lowes TC Pty Ltd., Mountain Shadow Nursery LLC, Phytotech Labs Inc., Plant Cell Technology Inc., PlantMedia, Rancho Tissue Technologies Inc., Xplant Laboratory Inc., Dark Heart Industries
Europe was the largest region in the micropropagation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the micropropagation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the micropropagation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The micropropagation market consists of revenues earned by entities by providing services such as plant tissue culture, industrial-scale propagation, nutrient enhancement, and specialized plant breeding. The market value includes the value of related goods sold by the service provider or included within the service offering. The micropropagation market also includes sales of plant growth regulators, plant tissue culture media, laminar hoods, tissue culture equipment, and micropropagation kits. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Micropropagation Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on micropropagation market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for micropropagation ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The micropropagation market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.