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Cytokinins Market

Cytokinins Market By Type (Adenine, Phenyl Urea, Others), Function (Cell Division, Cell Elongation, Morphogenesis, Apical Dominance, Phloem Transport), End Use Industry (Agriculture, Research Labs, Pharmaceuticals, Biodefense) & Region - Forecast 2022 - 2032

Market Insights on Cytokinins covering sales outlook, demand forecast & up-to-date key trends

Cytokinins Market Overview

The cytokinins market is expected to grow at a 7.9% CAGR during the forecast period, reaching US$ 3.64 Billion by 2032, up from US$ 1.7 Billion in 2022.

Report Attribute

Details

Estimated Base Year Value (2021)

US$ 1 Billion

Expected Market Value (2022)

US$ 1.7 Billion

Projected Market Value (2032)

US$ 3.64 Billion

Global Growth Rate (2022-2032)

7.9% CAGR

Cytokinins are plant growth hormones that stimulate cell division in shoots and roots. Cytokinins are classified into two types: adenine-type and phenyl urea-type. Cytokinins have a variety of applications, including biomedicine, pharmaceuticals, and agriculture.

The global cytokinins market is experiencing increased demand as a result of advances in botany. The excellent properties of cytokinin extracts have played an important role in the global market's expansion. Furthermore, cell division research and analysis in plants is an important part of botanical research and analysis.

The medical community is conducting extensive research into the properties of cytokinins. A number of research studies have found that cytokinins have medical benefits. Other schools of thought, however, question the veracity of the former's claims. Nonetheless, the global cytokinins market is expected to expand at a rapid pace in the coming years.

Which are Some Prominent Drivers Spearheading Cytokinins Market Growth?

The market is expected to be driven by rising demand from the organic food and textile industries. Cotton is used as a basic raw material in the textile industry, and cytokinins are used to increase cotton production. The organic food industry is expected to grow in response to the growing population and preference for organic foods.

The growing demand for herbal products in medicines and cosmetics is propelling the growth of the herbs and medicinal plants industry, which is expected to propel the cytokinins market.

However, the use of fertilizers and the high cost of cytokinin-based products are expected to stifle market growth. Developing cost-effective products and environmentally friendly cytokinin synthesis is expected to provide enormous opportunities in the near future.

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What are the Challenges Faced by the Cytokinins Industry?

However, higher cytokine costs compared to conventional plant growth chemicals are expected to stymie the global cytokinins market. To gain a competitive advantage, key players can develop an economical production process and ecological synthesis of cytokinins.

Regardless, this will pass as well. Rising government and non-governmental organization assistance can aid in the fight against this extremely contagious disease. Some businesses are struggling, while others are thriving. In general, the pandemic is expected to have an impact on almost every area.

Why is Asia-Pacific Emerging as an Opportunistic cytokinins Market?

Geographically, the Asia Pacific cytokinins market has been rapidly expanding in recent years. The widespread use of cytokinins in the agricultural and horticultural sectors has fueled the market growth.

Due to demand from emerging economies such as China and India, the Asia Pacific region is expected to grow at a faster rate. The market in this region is expected to be driven by rising population and demand from the cotton-based textile industry. Cytokinins are used to increase production in order to provide food to the population and cotton to the textile industry.

Nikhil Kaitwade
Principal Consultant
LinkedIn
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How is Europe Contributing to the Growth of the Cytokinins Market?

Because of the demand from organic food chemistry and government policies encouraging the use of eco-friendly agrochemicals, Europe was the largest consumer of cytokinins. Various national governments are requiring farmers to use environmentally friendly plant growth enhancers rather than chemical fertilizers.

Due to increased demand for organic foods and the implementation of stringent environmental regulations against hazardous chemical-based products, Europe held a significant share of the global cytokinins market in 2020. The use of chemical-based fertilizers has been restricted by the European Union. Because of the low environmental impact, this has increased demand for cytokinins in Europe.

Market Competition

Key players in this market include BASF SE, Crop Care Australasia Pvt Ltd., Du Pont, Redox Industries, Xinyi Industrial Co. Ltd., Bayer CropScience, Sichuan Guoguang Agrochemical Co. Ltd, Sigma Aldrich, NuFarm Ltd., and amongst others.

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Report Scope

Report Attribute

Details

Growth Rate

CAGR of 7.9% until 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Type
  • Function
  • End Use Industry
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Segments Covered in the Cytokinins Market Report

Type:

  • Adenine Cytokinins
  • Phenyl Urea Cytokinins
  • Other Cytokinins Types

Function:

  • Cytokinins for Cell Division
  • Cytokinins for Cell Elongation
  • Cytokinins for Morphogenesis
  • Cytokinins for Apical Dominance
  • Cytokinins for Phloem Transport
  • Cytokinins for Seed Dormancy
  • Cytokinins for Senescence
  • Cytokinins for Other Functions

End Use Industry:

  • Cytokinins for Agriculture
  • Cytokinins for Research Labs
  • Cytokinins for Pharmaceuticals
  • Cytokinins for Biodefense
  • Cytokinins for the Food Industry
  • Cytokinins for Cosmetics
  • Cytokinins for Biomedicine
  • Cytokinins for Environment Monitoring
  • Cytokinins for Other End Use Industries

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East & Africa

Frequently Asked Questions

FMI projects the global Cytokinins market to expand at a 7.4% value CAGR by 2032

Europe is expected to be the most opportunistic Cytokinins market.

Du Pont, Redox Industries, Xinyi Industrial Co. Ltd., Bayer CropScience, Sichuan Guoguang Agrochemical Co. Ltd, Sigma Aldrich, NuFarm Ltd.are some prominent Cytokinins manufacturers

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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