PUBLISHER: Data Bridge Market Research | PRODUCT CODE: 1464268
PUBLISHER: Data Bridge Market Research | PRODUCT CODE: 1464268
The Latin America and North America micropropagation market is expected to reach USD 6.28 billion by 2031 from USD 4.11 billion in 2023, growing at a lucrative CAGR of 5.5% in the forecast period of 2024 to 2031.
Latin America and North America Micropropagation Market, By Crop Type (Orchid and Ornamentals, Small Fruits, Vegetables, Medicinal Plants, Banana, Pistachio, Hazelnut, and Others), Container Type (Petri Plates and Test Tubes, Plastic Containers, and Glass Bottles), End-User (Farmers and Research Labs), Sales Channel (Offline and Online) - Industry Trends and Forecast to 2031
Drivers
Development of high yield and resilient plant varieties
Rising demand for disease-free plants in the horticulture and agriculture sector
Restraints
High cost of infrastructure and technology
Genetic uniformity and somaclonal variation concerns
Opportunities
Advancements in biotechnology and tissue culture techniques
Rising demand for home laboratories and farming