Global plant growth regulators market is expected to witness substantial growth in the forecast period due to growing investment in agriculture industry. Plant growth regulators, aka plant growth substances or plant hormones, are the organic molecules with numerous chemical compositions. They help in the growth of plant cells, organs, and tissues. They comprise chemical composition like terpenes (gibberellic acid), gases (ethylene), or (abscisic acid) carotenoid derivates. They promote cell enlargement, cell division, development from flowering to seed formation in plants.
The key driving factors of plant growth regulators market are rise in awareness among end users for plant growth regulators, growing technological advancements, increasing popularity of organic farming, supportive government policies, increase in demand for herbal medicines, and constant alterations in the regulations. Furthermore, growing investment for research and development activities in the domain is propelling the growth of plant growth regulator market. However, growing incidences of technology misuse and strict regulations for the use of pesticides is hindering the market.
Growing brewing industry on the global scale due to high demand for beer is trending in the market. Gibberellin increases sugarcane yield barely malting, seed and fruit production. Rise in demand for beer results in demand for gibberellin, which ultimately influences the growth of the market.
Plant growth regulator market is categorized on the basis of product type, crop type, function, formulation, and geography. On the basis of product type, market is divided into gibberellins, cytokinins, ethylene, and auxins. Cytokinins segment is predicted to lead the market since it reduces leaf ageing rate and leaf fall. Cytokinins are extensively used in Asia Pacific economies. Based on crop type, the market is divided into cereals and grains, fruits and vegetables, turf and ornamentals, and oil seeds and pulses.
In terms of function, market is bifurcated into plant growth inhibitors and plant growth promoters. Plant growth promoters segment hold larger share of the market since they improve the growth and development in all the stages of plant growth. Based on formulation, market is divided into solutions, wettable powders, and water-dispersible and water-soluble granules. Water-dispersible and water-soluble granules segment is expected to hold maximum share of the market since they are toxic-free, easy to handle, and are stable for transportation and storage in comparison to others.
Geographically, market is segmented as North America, South America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is predicted to contribute significantly in future large dependence on agriculture and improving farming conditions. Europe is also expected to dominate the market in the near future due to speedy technological advancements, increasing government initiatives for organic farming, and rise in crop production in the region. Furthermore, Middle East and Africa is expected to lead the market owing to heavy foreign investments in the region.
The leading players in plant growth regulators market are BASF SE, Syngenta AG, Nufarm Limited, DowDuPont, Bayer AG, Adama Agricultural Solutions Ltd., Nippon Soda Co., Ltd., Valent Biosciences LLC, Tata Chemicals Ltd, and Arysta Lifescince.
Leading players of Plant Growth Regulators including:
• FMC Corporation
• Syngenta AG
• The Dow Chemical Company
• BASF SE
• Nufarm Limited
Market split by Type, can be divided into:
Market split by Application, can be divided into:
• Cereals & Grains
• Fruits & Vegetables
• Oilseeds & Pulses
Market split by Sales Channel, can be divided into:
• Direct Channel
• Distribution Channel
Market segment by Region/Country including:
• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Spain etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
• South America Brazil, Argentina, Colombia and Chile etc.)
• Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
Research Support Specialist, USA