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Global Micropropagation Market Research Report - Analysis & Forecast 2023 - 2033
Micropropagation Market Trends
As per the report, 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 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%.
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Horticulture Development Drives Growth In The Micropropagation Market
The development of horticulture is expected to propel the growth of the micropropagation market going forward. Horticulture is the practice and science of cultivating plants for food, medicinal use, ornamentation, or aesthetic enjoyment. Horticulture is developing due to increasing demand for diverse crops, sustainable agricultural practices, urban green spaces, and ornamental plants, driven by population growth, environmental concerns, and aesthetic preferences. Micropropagation is required for horticulture to efficiently produce large quantities of disease-free plants with desired traits, ensuring consistent quality and genetic uniformity in crop production, ornamental gardening, and conservation efforts. For instance, in June 2024, according to a report published by the Department for Environment Food and Rural Affairs, a UK-based ministerial department, in 2023, the value of home-grown vegetables rose by 10% to just under £1.9 billion ($2.03 billion). The value of field vegetables increased by 12%, amounting to £1.5 billion ($1.60 billion), and the value of protected vegetables went up by 3.7%, reaching £374 million ($399 million). Therefore, the development of horticulture is driving the growth of the micropropagation market.
Innovations In Propagation Systems Boost Micropropagation Market
Major companies operating in the micropropagation market are developing innovative products, such as propagation systems, to enhance the efficiency and effectiveness of plant cloning and cultivation. Propagation systems are methods or techniques used to reproduce plants from seeds, cuttings, or other plant parts to produce new, genetically identical, or varied individuals. For instance, in January 2023, NuPlant, an Australia-based biotechnology company, launched SmartClone. SmartClone is an advanced plant tissue culture propagation system that aims to quickly produce enhanced plants from breeding programs for different species. This system utilizes precision robotics to create strong clones from parent material, with adjustable conditions for each growth phase. SmartClone is expected to yield sturdier, more consistent plantlets while also cutting down on labor and reducing costs per plant.
The micropropagation market covered in this report is segmented -
1) By Crop Types: Banana, Orchids And Ornamentals, Medicinal Plants, Vegetables, Small Fruits, Other Crop Types
2) By Container Type: Test Tubes And Petri Dishes, Glass Bottles, Plastic Containers
3) By Sales Channels: Offline, Online
4) By End User: Farmers, Research Labs, Other End Users
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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, Agribiotecnología 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
Contents of the report:
1. Executive Summary
2. Micropropagation Market Report Structure
3. Micropropagation Market Trends And Strategies
4. Micropropagation Market - Macro Economic Scenario
5. Micropropagation Market Size And Growth
…..
27. Micropropagation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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