Report : Europe Plant Tissue Culture Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Instruments, Media & Reagents, and Consumables), Application (Plant Research, Agriculture, Forestry & Technical Grade, and Others), and End Users (Greenhouse, Field, and Laboratory)
At 8.6% CAGR, the Europe Plant Tissue Culture Market is speculated to be worth US$ 211.16 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe plant tissue culture market was valued at US$ 128.52 million in 2022 and is expected to reach US$ 211.16 million by 2028, registering a CAGR of 8.6% from 2022 to 2028. Growing demand for transgenic plants and rising demand floriculture are the critical factors attributed to the market expansion.
Plant tissue culture is gaining popularity in this region due to its ability to produce and grow thousands of plants. Various developing countries are taking initiatives and investing in plant tissue culture and funding research projects so that they can export the products to new markets. For instance, “Chemical profiling of microbes associated with king chilli (Capsicum chinense) with special reference to growth promotion, biocontrol and capsaicinoids production in Northeast Region” is a tissue culture project that is funded by DBT. This increase in investment in tissue culture is creating opportunity for growth of plant tissue culture market. This is expected to drive the market during the forecast period.
On the contrary, high price of tissue culture hurdles the growth of Europe plant tissue culture market.
Based on type, the Europe plant tissue culture market is categorized into instruments, media & reagents, and consumables. The instruments segment held 59.5% market share in 2022, amassing US$ 76.48 million. It is projected to garner US$ 121.50 million by 2028 to expand at 8.0% CAGR during 2022–2028. Further, the instrument segment is categorized into incubators, centrifuges, microscopes, sterilizers, and others. Similarly, media & reagents are categorized into murashige and skoog media, linsmaier and skoog media, and others.
Based on application, the Europe plant tissue culture market is categorized into plant research, agriculture, forestry & technical grade, and others. The agriculture segment held 56.5% market share in 2022, amassing US$ 72.60 million. It is projected to garner US$ 118.73 million by 2028 to expand at 8.5% CAGR during 2022–2028.
Based on end users, the Europe plant tissue culture market is categorized into greenhouse, field, and laboratory. The field segment held 57.0% market share in 2022, amassing US$ 73.22 million. It is projected to garner US$ 118.96 million by 2028 to expand at 8.4% CAGR during 2022–2028.
Based on country, the Europe plant tissue culture market has been categorized into the Germany, UK, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 35.9% market share in 2022. It was assessed at US$ 46.10 million in 2022 and is likely to hit US$ 74.15 million by 2028, exhibiting a CAGR of 8.2% during the forecast period.
Key players dominating the Europe plant tissue culture market are Thomas Scientific LLC; Sigma-Aldrich Co LLC; HiMedia Laboratories Pvt Ltd; Caisson Labs Inc.; and Becton, Dickinson and Co. among others.
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