Europe & APAC are the key regions dominating the Micropropagation market. Orchids & Ornamentals plant micropropagation market to grow at a CAGR of more than 11%.
Chicago, Aug. 01, 2022 (GLOBE NEWSWIRE) -- According to the latest Arizton market research report, micropropagation market will grow at a CAGR of over 10% during 2022-2027and the market revenue to reach USD 3 billion by 2027. The development is generally in the form of shoot buds or shoots, which are further rooted for the completion of plantlets. Therefore, micropropagation plays a significant role in crop improvement, which will further expand the growth of the market in the upcoming years.
The demand for disease-free plants in the horticulture & agriculture sector, coupled with the innovations in cell culture technology, is expected to grow significantly. Therefore, the use of micropropagation in agriculture & horticulture industry is anticipated to increase during the forecast period.
During the pandemic, there was an increase in demand for organic fruits and vegetables grown at home using micropropagation. Building new labs with standard measurements, culture areas, and greenhouses is simple for large industries, but not for home growers. As a result, the growing interest in homegrown produce, as well as the expansion of the plant tissue culture market, are expected to drive the growth of the global micropropagation market during the forecast period.
Crop Type, End-User, Sales Channel, Container Type, and Region
Europe, APAC, North America, Latin America, and Middle East & Africa
Click Here to Download the Free Sample Report
The popularity of medicinal plants is on the rise as people diversify their interests in homegrown medicine plants. Hence, the increased demand for medicinal plants pushes the need for micropropagation. The demand for micropropagation is expected to surge further during the forecast period due to the popularity of medicinal plants in India, the US, and others. In recent years, tetrahydrocannabinol (THC) (psychoactive) and low THC (industrial hemp) gained momentum in the field of medicine and food. Tissue culture clones contribute to the production of disease-free plants and the development of various technologies for genetic improvement. Therefore, the development of cannabis as a medicinal crop is essential in the plant tissue culture market, expanding the demand for the micropropagation of medicinal plants for various applications.
Globally, micropropagation products are widely used. The rising demand for micropropagation products prompts several new vendors to enter the market, and the competition among these vendors leads to the launch of several innovations and cutting-edge products. These businesses compete on a variety of fronts, including cost, dependability, accessibility, and branding. The most crucial elements for sellers to have an advantage over rival vendors are market price and quality.
Europe & APAC are the key regions dominating the Micropropagation market as the demand for horticulture products (orchids & ornamentals, bananas, tomatoes, corn & others) are rising across the region.
Orchids & ornamentals segment dominating the micropropagation market is projected to grow at a CAGR of 11.04% during 2022-2027.
In 2020, according to Agrarmarkt Information-Gesellschaft, (AMI), the German market for flowers and ornamental plants (market volume) grew by approximately 5.2%. Hence, such expansion in the ornamental’s plants market is supporting the demand for the micropropagation market in Germany during the forecast period.
The Test tube & petri dishes segment is expected to add a revenue of $628.98 million in the micropropagation market during the forecast period.
Rivers Biotech, AgriForest biotechnologies, Booms Pharm and Agristarts are some of the leading players dominating the Micropropagation market. The market competition is expected to intensify further with an increase in product extensions and growth in technological innovations.
In 2021, the company AgriForest biotechnologies received funding from the Canada-BC Agri innovation program to produce disease-free hazelnut plants.
Test Tube & Petri Dishes
Explore garden tools market profile to know more about the industry.
Click Here to Download the Free Sample Report
Read some of the top-selling reports:
Precision Agriculture Market - Global Outlook and Forecast 2018-2023
Garden Pesticides Market - Global Outlook & Forecast 2022-2027
Potting Soil and Mixes Market - Global Outlook & Forecast 2022-2027
Garden Hand Tools Market - Global Outlook & Forecast 2021-2026
Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals, and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Click Here to Contact Us
Call: +1-312-235-2040 +1 302 469 0707
Nio (NYSE: NIO) investors got some good news from Chinese authorities for the second day in a row today. The company's American depositary shares are responding again this morning, jumping 6% at the market open but easing to a gain of 1.9% as of 10:05 a.m. ET. Shares of the Chinese EV company spiked yesterday on news that the Chinese government was adding a new stimulus package to jump-start a sagging economy.
The Fed chair obviously chose to ignore data released just today that shows that current consumer level inflation is not exactly out of control.
Follow Buffett’s lead. And collect big dividends while you’re at it.
Altria Group (MO) declares a dividend hike of 4.4%, taking its quarterly dividend to 94 cents per share. The company is focused on boosting shareholders' returns.
Despite historically high inflation, the Oracle of Omaha has sold shares of these supercharged income stocks, which are yielding between 3.9% and 5.8%.
The old stock market axiom to buy when others are fearful could readily apply right now, according to Ashish Shah, chief investment officer at Goldman Sachs. Amid concerns markets will be volatile following Federal Reserve Chair Jerome Powell’s Jackson Hole policy speech on Friday, Shah thinks that doesn’t mean investors should stay on the sidelines at present. It's preferable to buy "when there's fear in the market," say Shah. "Don't fall into the trap of buying when there's FOMO," he added. Ag
Shares of several Chinese stocks that trade on U.S. exchanges rose this week after the Chinese government implemented more favorable economic policies and some companies delivered upbeat earnings news. For the week, shares of Chinese e-commerce giant JD.Com (NASDAQ: JD) were trading roughly 18.6% higher as of 3:16 p.m. ET Thursday, according to data provided by S&P Global Market Intelligence. Shares of online tutoring company TAL Education Group (NYSE: TAL) were up by nearly 21%, and shares of agricultural tech company Pinduoduo (NASDAQ: PDD) were up by close to 31%.
Yahoo Finance Live anchors discuss EA stock performance after reports of an Amazon acquisition surface.
In this article, we will be taking a look at the 10 energy stocks to buy before winter. To skip our detailed analysis of the energy sector and the prospective future demand for these stocks, you can go directly to see the 5 Energy Stocks to Buy Before Winter. In February 2022, the Russian Federation invaded […]
Bank of America, Toyota Motor, AT&T, The Home Depot, Zoetis, and Occidental Petroleum are included in this Analyst Blog.
U.S. stocks tumble after Federal Reserve Jerome Powell said that the central bank will continue its inflation battle until it falls back to around 2%.
What company is next to split its shares after Tesla? There's one logical answer hiding in plain sight.
Here's why one Wall Street analyst really loves Peloton's stock.
Yahoo Finance Live anchors discuss fourth-quarter earnings for Affirm.
Stocks fell sharply Friday as Federal Reserve Chair Jerome Powell reiterated the U.S. central bank's commitment to fight inflation in a hawkish speech at the Jackson Hole economic symposium.
After the worst start to a year in over 50 years, everyone would like to forget the stock market's performance for the first six months of 2022. One of the best that fits the bill just might be industrial conglomerate 3M (NYSE: MMM), which is down 18% this year after losing 25% of its value over the past 12 months. 3M's problems didn't begin in 2021 or 2022 -- it's been a laggard for a number of years.
Most news coverage of stocks is like reporting on the score four minutes into an NBA game. It's just noise because there's space to fill.
2020 will probably go down in history as the year of COVID-19. 2021 could be known as the year of the reopening. How will 2022 be remembered? Perhaps as the year of sky-high inflation. Prices of goods and services are at levels not seen in four decades.
A look at the shareholders of Dole plc ( NYSE:DOLE ) can tell us which group is most powerful. With 40% stake...
When a stock experiences a golden cross technical event, good things could be on the horizon. How should investors react?