Cytokinins Market Size, Share, Opportunities, And Trends By Type (Adenine-Type, Phenyl-Type), By Application (Cell Division, Seed Dormancy, Senescence, Others), By End-User Industry (Agriculture, Healthcare, Cosmetics, Others), And By Geography - Forecasts From 2024 To 2029

The cytokinins market is expected to grow at a CAGR of 7.11% during the forecast period of 2022-2029, reaching US$3.142 billion in 2029 and US$1.943 billion in 2022.

Cytokinin is a group of plant hormones that encourages cell division in the plant's shoots and roots. The hormone is essential for plant growth and morphogenesis and assures that the plant's root-shoot ratio is maintained. One of the primary reasons boosting market expansion is the growing demand from end-user industries. Additionally, increased farming difficulties and demand for higher yields are also anticipated to push the market forward, as modifying plant endogenous cytokinin content offers a lot of potential for biotechnological uses in agriculture.

During the projected period, the rise in demand for organic products is expected to significantly influence the development of the cytokinin market. Furthermore, growth in the composition of chemical-free and organic products has resulted from rising medical awareness and diet concerns. For instance, according to the OTA's 2019 Organic Industry Survey, sales of organic products in the United States hit $52.5 billion in 2018, up 6.3 percent from 2018. Similarly, as per the Organic Sector Report 2021 published by the Soil Association Certification, the UK's organic market was valued at £2.79 billion in 2021, up 12.6 percent from sales in 2020. According to the survey, the organic market has grown rapidly in 15 years, beating the non-organic industry.

One key constraint to the market for cytokinin is its high price, which provides alternatives an advantage over the product. During the anticipated period, a greater price of cytokinin compared to the low price of fertilizers, combined with farmers' insufficient financials, is expected to limit market expansion.

CYTOKININS MARKET DRIVERS:

• Increased application in the agricultural and horticulture industries

A major factor in the global cytokinin market’s growth is the increased usage of cytokinin in the agricultural and horticulture industries. Increased demand for agriculture products has pushed the agriculture sector to raise production, motivating farmers to utilize artificial products to improve yields. For instance, according to FAO forecasts, global food consumption might rise by 70% by 2050, with rising consumer incomes in Asia, Eastern Europe, and Latin America accounting for most of the predicted global food demand increase.

Moreover, increased investments to propel research in agriculture will also aid in market expansion during the forecast period. For instance, in June 2022, La Trobe University's world-leading research skills in agriculture and food were enhanced owing to a $10 million State Government funding boost, resulting in realistic solutions and improved sustainability for Australian agricultural and regional areas. The investment will be used to extend La Trobe University's research glasshouses and create new growing facilities and controlled environment pods. Moreover, in August 2019, researchers from the University of Bristol discovered the genes that allowed plants to develop branches and conquer the land for the first time. The results, published in Current Biology, explain how a switch permitted plants to defer reproduction and grow leaves, shoots, and buds 450 million years ago.

Furthermore, the growing investments in the horticulture sector will also help in market growth for cytokinins. For instance, in March 2019, Canada announced a federal investment of up to $11.5 million in the Horticulture Cluster through the Canadian Agricultural Partnership. Coordinated by the Canadian Horticultural Council, the cluster received an additional $6.5 million in industry contributions, totaling $18 million in investment.

• The healthcare sector will dominate the market

The rising prevalence of diseases such as cancer, asthma, and arthritis will drive market growth during the forecast period. Cytokines can inhibit cancer development and progression and play an important role in cancer pathogenesis. Interleukin-2 cytokine dramatically stimulates the growth of T and natural killer cells, which are integral to the human immune response. Meanwhile, Interleukin-15 helps produce immune cells that attack and kill cancer cells. Moreover, according to the International Agency for Research on Cancer (IARC), the burden of cancer globally is expected to grow to 27.5 million new cancer cases and 16.3 million deaths worldwide by the end of 2040. The increasing incidence of cancer cases is expected to drive the need for advanced cancer immunotherapy to effectively treat patients, which in turn is expected to drive the overall market growth. Additionally, the rising prevalence of chronic respiratory diseases such as TB, Asthma, or Pneumonia because millions of people die prematurely is expected to increase the demand for cytokine-directed therapy. Interlukin-4 is the key cytokine used in asthma treatment, as it is responsible for Th2 cell differentiation and IgE production. It stimulates the mucus-producing cells and remodels the airway passages of the lungs. According to WHO, it is estimated that around 300 million people of all ages are suffering from asthma globally, which has increased the demand for effective therapies such as cytokine-directed therapy for the treatment of asthma.

Cytokinins Market Geographical Outlook

The cytokinin market is segmented into North America, South America, Europe, the Middle East, and Africa, and the Asia Pacific based on geography.  The factors contributing to the growth in the Asia Pacific region are the growing population and rapid increase in the demand for food. Further, increasing investment in R&D in the region is a key contributing factor. In addition, Asia Pacific contributes about 30% of the total agricultural land globally and is home to half of the world’s population, according to OECD and FAO. Moreover, according to the OECD and FAO outlook, the region will contribute 53% of the global agriculture and fish output by 2030.

The cytokinins market key developments:

• In May 2022, Sanofi announced that the U.S. Food and Drug Administration (FDA) accepted for priority review the supplemental Biologics License Application (sBLA) for Dupixent (dupilumab) to treat adults with prurigo nodularis. This chronic inflammatory skin disease causes extreme itch and skin lesions. Dupixent is a fully human monoclonal antibody that targets the signaling of interleukin-4 (IL-4) and interleukin-13 (IL-13) and is not an immunosuppressant.
• In July 2022, Sandoz, a global leader in generic and biosimilar medicines, announced that the US Food and Drug Administration (FDA) has accepted for review its Supplemental Biologics License Application (sBLA) for a high concentration formulation of 100 mg/mL (HCF) of its biosimilar Hyrimoz (adalimumab-day).
  

The cytokinins market is segmented and analyzed as follows:

• By Type
  • Adenine-Type
  • Phenyl-Type
• By Application
  • Cell Division
  • Seed Dormancy
  • Senescence
  • Others
• By End-User Industry
  • Agriculture
  • Healthcare
  • Cosmetics
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Middle East and Africa
    • Saudi Arabia
    • Saudi Arabia
    • United Arab Emirates
    • Rest of the Middle East and Africa
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Rest of Asia-Pacific

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.1.1. Increased Acceptance in Cancer Therapy

4.1.2. Potential contribution to stem cell therapy

4.2. Market Restraints

4.2.1. High Costs for Therapy

4.2.2. Threats from Substitutes

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. CYTOKININS MARKET BY TYPE

5.1. Introduction

5.2. Adenine-Type

5.3. Phenyl-Type

6. CYTOKININS MARKET BY APPLICATION

6.1. Introduction

6.2. Cell Division

6.3. Seed Dormancy

6.4. Senescence

6.5. Others

7. CYTOKININS MARKET BY END-USER INDUSTRY

7.1. Introduction

7.2. Agriculture

7.3. Healthcare

7.4. Cosmetics

7.5. Others

8. CYTOKININS MARKET BY GEOGRAPHY

8.1. Global Overview

8.2. North America

8.2.1. United States

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1. Brazil

8.3.2. Argentina

8.3.3. Rest of South America

8.4. Europe

8.4.1. United Kingdom

8.4.2. Germany

8.4.3. France

8.4.4. Italy

8.4.5. Spain

8.4.6. Rest of Europe

8.5. Middle East and Africa

8.5.1. Saudi Arabia

8.5.2. United Arab Emirates

8.5.3. Rest of the Middle East and Africa

8.6. Asia-Pacific

8.6.1. China

8.6.2. India

8.6.3. Japan

8.6.4. South Korea

8.6.5. Taiwan

8.6.6. Thailand

8.6.7. Indonesia

8.6.8. Rest of Asia-Pacific

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. Nufarm UK

10.2. Valagro

10.3. OMEX

10.4. GoldBio

10.5. Valent BioSciences Corporation

10.6. Tokyo Chemical Industry Co., Ltd.

10.7. North American Kelp

10.8. Yunnan Litto Chemicals Corporation

10.9. Sigma-Aldrich

10.10. Sisco Research Laboratories Pvt. Ltd.

Nufarm UK

Valagro

OMEX

GoldBio

Valent BioSciences Corporation

Tokyo Chemical Industry Co., Ltd.

North American Kelp

Yunnan Litto Chemicals Corporation

Sigma-Aldrich

Sisco Research Laboratories Pvt. Ltd.