Global Cytokinins Market - 2022-2029

Global Cytokinins Market - 2022-2029

Market Overview

Cytokinins Market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Cytokinins are a class of plant hormones that promote cell division, or cytokinesis, in plant roots and shoots. They perform a major role in cell growth and differentiation but also affect apical dominance, axillary bud growth, and leaf senescence. A higher level of cytokinins in plants increases resistance to pathogens, whereas the opposite is true for plant susceptibility to diseases. Farmers use it to increase the production of crops. Cytokinins play a major role in plant pathogenesis by inducing resistance against certain disease-causing bacteria.

Market Dynamics: Increasing demand for cytokinins in plant cotton crop growth regulation

Cytokinins are the natural growth regulator for the cotton crop. They are very helpful in fiber initiation and also help to increase cotton yield. Cytokinins promote cell division and growth of the plant. In cotton crop, cytokinins stimulate the growth of the main plant stem and branches. Applying cytokinins to cotton crops increased the yields in water-limited environments with reduced irrigation or no irrigation requirement. Application of cytokinins to cotton crop increases 5-10% yield in a water-limited environment. It is effective in a full water environment also. The application of cytokinins on auxin triggered the fiber initiation in the cotton crop. Some naturally occurring hormones are auxin, gibberellins and cytokinins. Cytokinins help to promote cell division and enlargement of stems and leaves of cotton. Cytokinins can delay the aging of leaves, allowing the longer photosynthetic activity. Cytokinin has also entered the market with a different hormone than PGR IV or Maxxon.

Furthermore, the demand for organic products is increasing due to their ecofriendly nature and no harmful effect on the body. The growing number of lactose-intolerant populations across the globe is increasing the demand for cytokinins. Furthermore, increasing demand for organic food ingredients is growing in demand for cytokinins in the coming years.

Market Segmentation: Cell division segment accounted for the highest share in global cytokinins market

In 2021, the cell division segment had the highest revenue share of over XX percent. Cytokinins play a major role in cell division. Cytokinins are generally considered in mitotic cell division in the plant shoot. Cytokinins help to regulate cell division and play a major role in establishing organization within shoot stem cell centers. The rising demand for cytokinins in botany to study cell division in plants has increased the market size. Furthermore, the increase in research & development activity in biochemical products helps to increase the crop yield that drives the cytokinins market growth.

The increasing demand for cytokinins from the agriculture sector plays an important role in market growth. Increasing population across the globe tends to increase the food demand. Cytokinins help to increase the production of crops by promoting crop growth. The increasing research and development activities in agrochemicals drive the market growth of cytokinins. Increasing demand from developing countries like India and China for environmentally-friendly agrochemical products like cytokinins helps to increase the sales of cytokinins.

Geographical Penetration: Asia Pacific is the dominating region during the forecast period

In 2021, the Asia Pacific region had the highest revenue share of almost XX percent. Asia pacific cytokinins market has been growing rapidly over the past few years. The increasing demand for cytokinins in the agriculture sector helps to increase the sales of cytokinins. Asia Pacific region's market is expected to be driven by a rising population and increasing demand from the cotton-based textile industry. Cytokinins are used to increase production to provide food to the population and cotton to the textile industry.

Europe has the second-largest share of organic agricultural land in the world. The area for organic agriculture is steadily increasing, with 17.1 million hectares of farmable land in 2020. With the increased demand for organic food and strict government regulations against hazardous chemical-based products, Europe held a significant market share. Chemical-based fertilizers are banned in European countries because of their environmental impact, increasing the demand for natural growth promoters like cytokinins.

Competitive Landscape:

There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Some major market players are BASF SE, Bayer AG, Redox Industries, and Xiny (H.K.) Industrial Co., Ltd., Sichuan Guoguang Agrochemical Co. Ltd., Nufarm Ltd and others. Some of the major companies launched new products to increase their product portfolio. For instance, in July 2020, GroPro launched a new biostimulant for higher crop yield and securing bee population. This product helps to enhance flower development while increasing stamen hold and pollinator activity. It increases total flower pollination and increases crop yield. According to a research conducted in March 2022, mutations that interfere with cytokinin signaling help Arabidopsis plants tolerate high salinity.

COVID-19 Impact: Negative impact on the global cytokinins market

Agriculture sales of cytokinins suffered the most during the Covid- 19 pandemic due to the shutdown of the manufacturing facility to avoid contamination and reduce the risk of spreading covid. Due to the covid pandemic, core industries such as the textile, cosmetic and food industry is highly impacted. Due to the strict government regulations, most of the manufacturing plants were closed, which declined the production of goods. Product manufacturing plants were closed due to the shortage of labor. The textile industries were completely closed during a pandemic, so the demand for cotton also decreased. Commodity markets are closed for a certain time. Farmers avoided extra expenditure on the growth promoters like cytokinins. These factors negatively impacted the cytokinins market.

The global cytokinins market report would provide an access to approximately 58 market data tables, 61 figures and 170 pages