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Cytokinins Market Share, Global Industry Analysis and Forecast 2023 – 2030

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Cytokinins Market Share, Global Industry Analysis and Forecast 2023 – 2030

September 03
20:01 2023
Cytokinins Market Share, Global Industry Analysis and Forecast 2023 - 2030
Cytokinins Market – DataM Intelligence
Asia Pacific is the dominating region and Europe has the second-largest share during the forecast period.

Market Overview

Cytokinins are plant hormones that induce cell division, also known as cytokinesis, in plant roots and shoots. They have an important role in cell proliferation and differentiation, but they also have an impact on apical dominance, axillary bud growth, and leaf senescence. A greater amount of cytokinins in plants enhances resistance to infections, whereas a lower quantity increases susceptibility to illnesses. Farmers utilize it to boost agricultural productivity. Cytokinins play an important function in plant pathogenesis by developing resistance to pathogenic microorganisms.

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Market Size and Growth Analysis

According to the DataM Intelligence’s latest research the Global Cytokinins Market reached US$ billion in 2022 and is projected to witness lucrative growth by reaching up to US$ billion by 2030. The market is growing at a CAGR of XX% during the forecast period 2023-2030.

Market Key Drivers

Increasing Demand for Cytokinins in Plant Cotton Crop Growth Regulation

Cytokinins are the cotton crop’s natural growth regulator. They are quite beneficial in fibre commencement and also aid in increasing cotton production. Cytokinins stimulate plant cell division and growth. Cytokinins encourage the development of the main plant stem and branches in cotton crops. Applying cytokinins to cotton crops boosted yields in water-stressed regions with little or no irrigation. In a water-stressed environment, applying cytokinins to cotton crops enhances production by 5-10%. 

It is also effective in a full-water environment. The use of cytokinins on auxin-induced fibre initiation in the cotton crop. Auxin, gibberellins, and cytokinins are examples of naturally occurring hormones. Cytokinins enhance cell division and the growth of cotton stems and leaves. Cytokinins may postpone leaf ageing, allowing for greater photosynthetic activity. Cytokinin, like PGR IV and Maxxon, has reached the market with a new hormone.

Segmentation Analysis

As per the research analysis, the global cytokinins market is segmented type, function, and end use industry

By Type 

  • Adenine
  • Phenyl urea
  • Others

By Function

  • Cell Division
  • Cell Elongation
  • Morphogenesis
  • Apical Dominance
  • Others

By End-Use Industry 

  • Agriculture
  • Research Labs
  • Pharmaceuticals
  • Others

Function: Cell Division Segment Accounted for the Highest Share of the Global Cytokinins Market

The cell division segment had the biggest revenue share of more than XX per cent in 2021. Cytokinins are important in cell division. Cytokinins are usually thought to be involved in mitotic cell division in plant shoots. Cytokinins aid in the regulation of cell division and serve an important part in the organization of shoot stem cell centres. 

The market size has grown due to the growing demand for cytokinins in botany to investigate cell division in plants. Furthermore, increased R&D effort in biochemical goods helps to boost agricultural output, which promotes the cytokinins market expansion.

End User: The Agriculture Segment Accounted for the 70% of the Market Share

The agriculture segment is expected to account for more than 70% of the market in 2021 and to rise considerably throughout the forecast period. Global population expansion is increasing the need for food. Growing agrochemical research and development efforts, as well as the adoption of modern agricultural technology in emerging nations such as India and China, are raising demand for environmentally friendly agrochemical products. The eco-friendly agrochemical boosts agricultural, fruit, and flower output, driving the market for cytokinins during the projection period. 

According to Invest India, agriculture accounts for 16.5% of India’s GDP and employs 58% of the population. Agriculture is the backbone of the Indian economy, with a GVA of 20.2% in 2020-21. Agricultural Technology has a market value of US$ 204 million in 2020 and is expected to grow to US$ 24.1 billion over the following five years. The growing demand for agricultural goods is propelling the Cytokinin industry.

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Key Development

  • GROPRO launched Awakening Pollination, a stimulator that encourages the plant’s natural processes to improve flower growth while enhancing stamen hold and pollinator activity, in August 2020. Awakening also includes auxins, cytokinins, and other biostimulants.

Cytokinins Market: Regional Analysis

Based on region the global cytokinins market is segmented into North America, Europe, South America, Asia Pacific, Middle East, and Africa. 

Asia Pacific Dominates the Global Cytokinins Market

The Asia Pacific region had the highest revenue share of over XX percent in 2021. The Asia Pacific cytokinins market has expanded substantially in recent years. The growing need for cytokinins in the agricultural sector aids in cytokinin sales. 

The market in the Asia Pacific region is likely to be driven by an expanding population and increased demand from the cotton-based textile sector. Cytokinins are utilized to boost output in order to feed the people and provide cotton to the textile industry.

Competitive Landscape

The market players contributing to the global cytokinins market growth include:

  • BASF SE 
  • Bayer AG
  • Redox Industries, and Xiny (H.K.) Industrial Co., Ltd.
  • Sichuan Guoguang Agrochemical Co. Ltd.
  • Nufarm Ltd

About DataM Intelligence

DataM Intelligence 4Market Research is a Market Research firm that provides end-to-end business solutions to organizations from Research to Consulting. We at DataM Intelligence leverage our top trademark trends, insights, and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of Syndicate Reports & and; Customized Reports with a robust methodology. 

Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries, catering to the key business research needs that influence the growth trajectory of our vast clientele.

 

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