Plant Tissue Culture Market Estimated to Gain $895 Million in Revenue by 2030 | Alpha Laboratories, Phytoclone Inc, 3 Rivers Biotech, AgriForest Bio-Technologies, Caisson Laboratories, Inc.

The growth of the global plant tissue culture market is attributed to high demand for disease free plants, hybrid plants and others and is also expected to offer significant growth opportunities for the market during the forecast period.

Increase in the adoption of improved crop varieties and rise in demand for vegetables and fruits propel the global plant tissue culture market. On the other hand, poor demand in underdeveloped countries hinders the market growth. On the contrary, high growth potential in developing countries is expected to create lucrative opportunities for the market players.

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The global plant tissue culture market generated $382.30 million in 2020, and is expected to reach $895.00 million by 2030, exhibiting a CAGR of 8.5% from 2021 to 2030.

Impact of COVID-19 on Plant Tissue Culture Market-

The COVID-19 pandemic has impacted agro systems and associated livelihoods across the globe due to lockdown, lack of workforce, and restricted transportation.

The pandemic hit the market at the time when the harvest activities were starting. This impacted the value chain, from farmer to buyer.

Many workers returned home due to an uncertain work environment and lockdown, causing major losses in the field.

Lack of workforce also hindered the production of millions of virus-free tissue culture plants.

Restriction on transportation hindered the delivery of planting material, endangering next year's yield.

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Key Findings of the Study

By crop type, the floriculture plants segment was the highest contributor to the market in 2020.

By stage, the multiplication segment was the highest contributor to the market in 2020.

By plant type, the annual plants segment was the highest contributor to the market in 2020.

By type of media, the murashige and skoog media segment was the highest contributor to the market in 2020.

By type of growth container, the glass bottles segment was the highest contributor to the market in 2020.

By cost component, the personnel cost segment was the highest contributor to the market in 2020.

By variety, the hybrid variety segment was the highest contributor to the market in 2020.

On the basis of sales channel, the direct sales segment was the major revenue contributor in 2020, and is anticipated to remain dominant during the forecast period. There are various advantages of direct sales such as high-profit margin for both parent companies and sellers, no expense of store maintenance, and others is driving the growth of the market.

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Key players of the global plant tissue culture market analyzed in the report include Alpha Laboratories, Phytoclone Inc, 3 Rivers Biotech, AgriForest Bio-Technologies, Caisson Laboratories, Inc, AgriStarts, Dark Heart Nursery, DP-Deroose Plants, Himedia Laboratories, IribovSBW, Labland Biotech Private Limited, Lifesible, Knight Hollow Nursery, Merck KGaA (Sigma-Aldrich), Meristematic, Inc, Melford Laboratories, PhytoTech Laboratories, Inc., Phytocultures, PlantMedia, RuBi Bio LLC, Segra International, Rancho Tissue Technologies, Booms Pharm, Thomas Scientific (The Carlyle Group), and Tissue-Grown Corporation.

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