Micropropagation Market Trends, Size, Forecast 2024-2033

Overview and Scope Micropropagation is a plant propagation technique that involves growing plants from small plant parts, such as tissue cultures, under sterile conditions. It allows for the rapid production of large numbers of genetically identical plants. This method is widely used in agriculture, horticulture, and forestry for efficient plant multiplication and conservation. Sizing and Forecast 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 in the historic period can be attributed to the demand for disease-free planting materials, conservation of endangered species, crop improvement programs, globalization of agriculture, and increasing awareness among growers. 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 growth in the forecast period can be attributed to the emergence of new plant varieties, biopharmaceutical production, increased focus on sustainable agriculture, expansion of biofuel and biomass production, regulatory support, and intellectual property rights. Major trends in the forecast period include increased integration of artificial intelligence (AI) and automation technologies, expansion into non-traditional crops, digitalization of micropropagation services, expansion of contract micropropagation services, and vertical integration in value chains. Order your report now for swift delivery, visit the link: https://www.thebusinessresearchcompany.com/report/micropropagation-global-market-report Segmentation & Regional Insights 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 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. Intrigued to explore the contents? Secure your hands-on a free sample copy of the report: https://www.thebusinessresearchcompany.com/sample.aspx?id=16737&type=smp Major Driver Impacting Market Growth 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. Key Industry Players 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 The micropropagation market report table of contents includes: 1. Executive Summary 2. Micropropagation Market Characteristics 3. Micropropagation Market Trends And Strategies 4. Micropropagation Market - Macro Economic Scenario 5. Global Micropropagation Market Size and Growth .. 32. Global Micropropagation Market Competitive Benchmarking 33. Global Micropropagation Market Competitive Dashboard 34. Key Mergers An