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Cytokinins Market Analysis, Segments, Value Share and Key Trends 2015 - 2025
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Increasing demand from organic food industry and textile industry is expected to drive the market. Cotton is used in textile industry as basic raw material and cytokinins are being used to increase the cotton production. Growing population and inclination towards organic food is anticipated to drive the organic food industry. Demand for herbal products in medicines and cosmetics is driving the growth of herbs and medicinal plants industry which is expected to drive the cytokinins market. However, use of fertilizers and cost of the cytokinins based product are expected to hamper the market growth. Developing cost effective products and eco-friendly synthesis of the cytokinins is expected to provide immense opportunities in the near future.
Europe was the largest consumer of cytokinins owing to demand from organic food chemistry and government policies to use eco-friendly agrochemicals. Various national governments are enforcing farmers to use eco-friendly plant growth enhancers than using chemicals based fertilizers. Asia Pacific region is expected to grow at higher rate owing to demand from emerging economies such as China and India. Growing population and demand from cotton based textile industry is expected to drive the market in this region. To provide food to population and cotton to textile industry, cytokinins are being used to increase the production. North America followed Asia Pacific region and is expected to grow with moderate rate owing to demand from organic food and medicinal plants industry.
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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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