Global plant growth regulators market is expected to reach USD 8.79 Billion by 2025 at a CAGR of 7.5% during the forecast period from 2018-2025. Use of less agricultural area and growing demand for organically produced goods is fuelling the demand for plant growth regulators
Plant growth regulators are defined as the chemicals which are capable of enhancing the physiological response of the plants. They help in translocating to the low concentrations part of the plant which helps in increasing the accessibility and supply of the main nutrients to the plants; thus, promoting the development & growth of the plants such as elongation of stems, the formation of flowers & leaves and development of fruits. These plant growth regulators are broadly used to meet the necessity of the food supply. They have sought extensive implementation in the modification of plant physiological processes that include regulating the plant metabolism and constraining or regulating enzyme systems. They are highly demanded due to the regulation of cotton metabolism.
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- The base year for the study has been considered 2017, the historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The plant growth regulators market is analyzed by value (USD Billion) and volume (Kilo Tons).
- The study delivers a comprehensive analysis of global plant growth regulators market by crop type, formulation, function, type, and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used to recognize the competitive scenario in the plant growth regulators market. This report incorporates the Type analysis which is focused on providing an extensive view of the plant growth regulators market.
- The study also includes attractiveness analysis of crop type, formulation, function, type, and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the plant growth regulators market and a comparative analysis based on their business overviews, industry offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Reduction in the agricultural area along with mounting demand for organic food
- Improves product quality and marketability while reducing labor for pinching, pruning, and maintenance, thereby, stimulating the demand.
- Soaring demand for organically produced goods is fuelling the demand for plant growth regulators
- Ability to reduce lodging in intensive cereal production, control the shoot heights, and stimulate latex flow in rubber plants is propelling the market growth
- Time-consuming process as the approval period for new products is too long
- The robust product portfolio for broad-acre crops
- Increased investment in agricultural activities in developing countries
- Less awareness regarding applications of PGR
- The cost associated with regulatory requirements
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Europe held the largest market share of approximately40.40% in 2017.Europe region led the global market for plant growth regulators because of rapid technical improvements, government encouragement for organic farming, and rise in crop production which is driving the plant growth regulators market in Europe.
The major players ofmarketinclude plant growth regulatorsmarket are BASF SE, DuPont, Bayer CropScience Crop Care Australasia Pty. Ltd, NuFarm Ltd., Redox Industries Limited, Sichuan Guoguang Agrochemical Co. Ltd, and Xinyi(H.K.) Industrial Co. Ltd, FMC Corporation, Syngenta AG, Valent Bioscience Corporation, Dow Chemical Company, and WinField Solutions
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