Market Overview: The market for plant growth regulators reached a valuation exceeding USD 5 billion in 2018 and is anticipated to surpass USD 9.5 billion by 2026. This comprehensive report delves into critical factors such as size, share, demand, growth, gross profits, earnings, and revenue, providing an in-depth analysis of the industry’s prospective evolution. Utilizing data from 2016 and 2017, the report offers a comprehensive perspective on industry trends, forecasting potential growth from 2019 to 2026, with 2018 as the base year.
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Plant growth regulators, also known as phytohormones, are chemical compounds that govern various aspects of plant growth and development. The global plant growth regulators market is driven by increased investments in agriculture, the expansion of the organic food sector, and a growing emphasis on sustainable farming practices.
The demand for plant growth regulators in the form of bio-stimulants/bio-inhibitors has risen, particularly in economies heavily reliant on agriculture. Mechanization in agriculture has led to scientific advancements, prompting the use of innovative inputs to enhance crop production, thereby increasing the demand for plant growth regulators. Factors such as the adoption of agrochemicals for crop protection, the pursuit of nutrition-rich produce, and the emerging trend of in-house gardening and farming further contribute to market growth.
However, uncontrolled usage of plant growth regulators poses challenges, leading to rapid outer surface growth with underdeveloped cores. This issue concerns both manufacturers and end-users. Factors like low awareness and limited innovation in product development could hinder industry growth during the forecast period.
Key Insights from the Plant Growth Regulators Market Forecast: The market is segmented based on type, with categories including Cytokinins, Auxins, Gibberellins, and others. Cytokinins lead the market, constituting approximately 40% of the share, expected to maintain dominance due to their widespread use in enhancing stress tolerance and protein synthesis in plants. Auxins follow, driven by applications in medicinal plants, turf, and landscaping.
Segmentation based on application includes Crop-based and Non-Crop-based categories. Crop-based further segments into Grains and Cereals, Oilseeds, and Fruits & Vegetables. Non-Crop-based includes Turf and Ornamental Grass, among others. Noteworthy research includes SePro’s work on improving the plant growth regulator TopFlor L and Fine Americas’ introduction of Piccolo 10XC.
Global Plant Growth Regulators Market Overview: Europe holds the dominant market share at around 45%, driven by the rise of organic farming, sustainable practices, decorative farming, and rooftop gardening. North America, with major manufacturers, stands as the second-largest market, while the Asia Pacific is anticipated to witness substantial growth due to favorable investments and policies, particularly in developing nations like China and India.
Key players shaping the global Plant Growth Regulators market include BASF, Syngenta, Dow Chemical Company, Bayer CropScience, FMC Corporation, Nufarm, Valent Biosciences Corporation, WinField United, Xinyi (HK) Industrial, and TATA Chemicals, among others. Competitive data aids in understanding individual company standings in the global landscape, with the forecast providing insights into demand trends and their impact on businesses.
Major Players in the Global Plant Growth Regulators Market:
- BASF
- Syngenta
- Dow Chemical Company
- Bayer CropScience
- FMC Corporation
- Nufarm
- Valent Biosciences Corporation
- WinField United
- Xinyi (HK) Industrial
- TATA Chemicals
- Adama Agricultural Solutions
- Nippon Soda
- Arysta LifeScience
- Redox Industries Limited
Market Segmentation by Type:
- Cytokinins
- Auxins
- Gibberellins
- Others
Market Segmentation by Application:
- Crop-based
- Non-Crop-based
Market Segmentation by Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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