Plant Growth Regulators Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Auxins, Gibberellins, Cytokinins, Absicisic Acid, Ethylene), By Crop Type (Cereals, Oilseeds and Pulses, Fruits and Vegetables, Turf and Ornamentals, Others), By Region and Competition, 2019-2029F

April 2024 | 185 pages | ID: P6C9820C0737EN
TechSci Research

Abstracts

Global Plant Growth Regulators Market was valued at USD 3.17 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 4.27% through 2029. One of the main drivers of the plant growth regulators (PGRs) market is their crucial role in bolstering global crop production. As agriculture faces the challenges posed by climate change and unpredictable weather patterns, PGRs play a vital role in mitigating environmental stress factors. By enhancing plant growth and crop yield, they contribute significantly to ensuring a stable and sustainable food supply.

The market is also witnessing growth due to the increasing popularity of organic farming. With more farmers transitioning from traditional to organic farming methods, there is a rising demand for PGRs, particularly those derived from natural sources. These natural PGRs are sought after for their compatibility with organic farming practices and their ability to support plant growth without compromising environmental sustainability.

Key Market Drivers

Growth in Agriculture Industry

Plant growth regulators (PGRs) play a vital role in modern agriculture by exerting control over the growth and development of plant cells, tissues, and organs. These chemical substances offer a myriad of benefits to farmers worldwide. By influencing plant growth, PGRs contribute to improved crop yield, ensuring an abundant and sustainable food supply. Additionally, PGRs enhance the quality of harvested crops, leading to better taste, texture, and nutritional value for consumers.

PGRs provide a means to combat pests and diseases, safeguarding crops from potential threats. This ability to enhance resistance contributes to the overall resilience and longevity of agricultural systems. As a result, PGRs have become indispensable tools in the arsenal of farmers, empowering them to meet the increasing demands for food production while minimizing losses due to environmental factors.

The global shift towards precision farming and sustainable agricultural practices has further amplified the significance of PGRs. These innovative farming techniques prioritize efficient resource utilization and strive to minimize the environmental impact of agricultural activities. Within this context, PGRs serve as pivotal components in achieving these goals. By precisely regulating plant growth, PGRs enable farmers to optimize resource allocation, minimize waste, and reduce the use of potentially harmful agrochemicals.

The continuous advancements in biotechnology and genetic research further hold immense promise for the future of PGRs. As scientists delve deeper into the intricacies of plant biology, they are likely to uncover new applications and potential uses for these regulators. This ongoing research presents exciting opportunities for the expansion of the PGRs market and highlights their potential to revolutionize agricultural practices.

Surge in Technological Advancements

Technological advancements have revolutionized and transformed the agriculture sector, including the market for plant growth regulators (PGRs). These advancements have paved the way for the development of more effective and efficient PGRs, which play a crucial role in enhancing crop yield, improving crop quality, and mitigating environmental stress factors.

One such technological innovation that has contributed significantly to the increased demand for PGRs is precision farming. This modern farming method relies heavily on cutting-edge technology to optimize the use of resources, minimize environmental impact, and maximize crop yields. In this context, PGRs have become an integral part of precision farming, as they help farmers achieve optimal agricultural outcomes.

The PGRs market is currently experiencing a surge in demand, particularly for PGRs with protective properties. This trend is driven by the growing awareness of the importance of crop protection and the increasing adoption of precision farming practices. By leveraging advanced technologies, farmers can effectively safeguard their crops and achieve sustainable agricultural practices.

With the continuous advancements in technology and the increasing focus on sustainable agriculture, the future of the PGRs market looks promising. As more farmers recognize the benefits of integrating PGRs into their farming practices, the demand for innovative and efficient PGR solutions is expected to further rise. This presents an exciting opportunity for researchers, developers, and manufacturers to continue pushing the boundaries of PGR technology and contribute to the growth and resilience of the agriculture industry.

Key Market Challenges

Limited Awareness among Farmers

Farmers, especially those in remote areas or developing nations, may not be fully aware of the benefits of Plant Growth Regulators (PGRs). Due to limited access to information about the latest agricultural technologies, including the potential advantages of using PGRs to enhance crop yield and quality, many farmers continue to rely on traditional farming methods. They are often hesitant to adopt new technologies due to a lack of understanding or fear of potential risks associated with PGRs.

This lack of awareness and reluctance to embrace innovation pose major obstacles to the widespread adoption of PGRs. However, by providing farmers with detailed information on the scientific research and successful implementation of PGRs in similar agricultural contexts, we can address their concerns and encourage the uptake of these beneficial technologies. Additionally, promoting collaboration between agricultural extension services, research institutions, and farming communities can facilitate knowledge sharing and empower farmers with the necessary tools to make informed decisions about integrating PGRs into their farming practices.

By highlighting the specific benefits of PGRs, such as improved crop uniformity, enhanced disease resistance, and increased tolerance to environmental stressors, we can help farmers recognize the potential impact of these technologies on their livelihoods. Moreover, showcasing success stories and case studies of farmers who have successfully incorporated PGRs into their operations can serve as powerful examples, inspiring others to embrace innovation and unlock the full potential of their agricultural endeavors.

Key Market Trends

Increasing Focus on Sustainable Agriculture

Sustainable agriculture, a holistic approach to meeting society's food and textile needs, goes beyond the present by ensuring the ability of future generations to meet their own needs. It encompasses three key goals: maintaining environmental health, ensuring economic profitability, and promoting social and economic equity.

As part of this transformative shift, there has been a growing interest in organic farming and innovative indoor farming methods, such as greenhouses and glasshouses. These methods align seamlessly with the principles of sustainable agriculture, as they prioritize resource efficiency, minimize environmental impact, and foster healthier crop growth.

In the realm of sustainable agriculture, plant growth regulators (PGRs) play a pivotal role. These regulators act as catalysts for crop production, mitigating environmental stress factors and bolstering crop resilience. By utilizing PGRs, farmers are able to enhance yields, optimize input management, and significantly contribute to the overall productivity of the agricultural sector.

Segmental Insights

Type Insights

Based on the category of type, the auxins segment emerged as the dominant player in the global market for plant growth regulators in 2023. Auxins are a group of plant growth hormones that play a crucial role in regulating various aspects of plant development. One of their key functions is to control cell division and the production of vascular tissues, which are responsible for transporting water, nutrients, and other essential substances throughout the plant. Additionally, auxins are involved in promoting root initiation, facilitating shoot maturation, and maintaining apical dominance, which refers to the tendency of the main stem to grow taller without producing side branches.

Auxins also have a significant impact on fruit production. They contribute to the development and ripening of fruits by regulating processes such as cell enlargement, cell division, and hormone synthesis. This makes auxins invaluable in agricultural practices, as they can be utilized as root stimulators or retarders, cut flower stimulators or retarders, leafing inhibitors or promoters, and more.

Considering their pivotal role in plant growth and development, auxins are anticipated to be the major factors influencing the market size of plant growth regulators during the forecast period. Their diverse applications and ability to modulate various physiological processes make them an essential tool for farmers, horticulturists, and researchers alike.

Crop Type Insights

The cereals segment is projected to experience rapid growth during the forecast period. Plant growth regulators, also known as plant hormones, are widely used in cereal production to carefully regulate the crop cycle. These regulators serve multiple purposes, including preventing lodging of crops, improving grain size and quality, and even reducing post-harvest losses. By delicately delaying the ripening process, these regulators extend the harvesting intervals, allowing for a more efficient and productive harvest.

Among the various plant hormones, auxins and cytokinins, in particular, play a pivotal role in this application. These hormones enhance plant vigor and stimulate production, leading to higher yields of produce that boast superior quality and nutritional value. With the strategic use of these growth regulators, farmers and agricultural experts can optimize cereal production and maximize the overall outcome.

Regional Insights

Europe emerged as the dominant player in the Global Plant Growth Regulators Market in 2023, holding the largest market share in terms of value. The increasing demand for fruits and vegetables in the region, coupled with the challenging climatic conditions faced by many countries, is expected to drive the adoption of plant growth regulators to enhance agricultural productivity.

Europe, with nations such as Germany, the United Kingdom, France, and Italy, among others, is emerging as a key market for plant growth regulators. This can be attributed to the region's growing population, which is anticipated to further boost the regional market during the forecast years for the plant growth regulators market. With advancements in technology and the need for sustainable farming practices, the use of plant growth regulators is becoming increasingly important for farmers to optimize crop yields and meet the rising demand for high-quality produce.

Key Market Players

BASF SE

Bayer Crop Science AG

Corteva Agriscience AB

Syngenta AG

Nufarm Limited

Sumitomo Australia Pty Ltd

TATA chemicals limited

Arysta Lifescience Ltd

FMC Corporation

UPL Limited

Report Scope:

In this report, the Global Plant Growth Regulators Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Plant Growth Regulators Market,By Type:

oAuxins

oGibberellins

oCytokinins

oAbsicisic Acid

oEthylene

Plant Growth Regulators Market,By Crop Type:

oCereals

oOilseeds and Pulses

oFruits and Vegetables

oTurf and Ornamentals

oOthers

Plant Growth Regulators Market, By Region:

oNorth America

• United States
• Canada
• Mexico

oEurope

• France
• United Kingdom
• Italy
• Germany
• Spain

oAsia Pacific

• China
• India
• Japan
• Australia
• South Korea

oSouth America

• Brazil
• Argentina
• Colombia

oMiddle East Africa

• South Africa
• Saudi Arabia
• UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Plant Growth Regulators Market.

Available Customizations:

Global Plant Growth Regulators Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Contents

1.PRODUCT OVERVIEW

1.1.Market Definition
1.2.Scope of the Market
  1.2.1.Markets Covered
  1.2.2.Years Considered for Study
  1.2.3.Key Market Segmentations

2.RESEARCH METHODOLOGY

2.1.Objective of the Study
2.2.Baseline Methodology
2.3.Key Industry Partners
2.4.Major Association and Secondary Sources
2.5.Forecasting Methodology
2.6.Data Triangulation Validation
2.7.Assumptions and Limitations

3.EXECUTIVE SUMMARY

3.1.Overview of the Market
3.2.Overview of Key Market Segmentations
3.3.Overview of Key Market Players
3.4.Overview of Key Regions/Countries
3.5.Overview of Market Drivers, Challenges, Trends

4.IMPACT OF COVID-19 ON GLOBAL PLANT GROWTH REGULATORS MARKET

5.GLOBAL PLANT GROWTH REGULATORS MARKET OUTLOOK

5.1.Market Size Forecast
  5.1.1.By Value
5.2.Market Share Forecast
  5.2.1.By Type (Auxins, Gibberellins, Cytokinins, Absicisic Acid, Ethylene)
  5.2.2.By Crop Type (Cereals, Oilseeds and Pulses, Fruits and Vegetables, Turf and Ornamentals, Others)
  5.2.3.By Region
  5.2.4.By Company (2023)
5.3.Market Map

6.ASIA PACIFIC PLANT GROWTH REGULATORS MARKET OUTLOOK

6.1.Market Size Forecast
  6.1.1.By Value
6.2.Market Share Forecast
  6.2.1.By Type
  6.2.2.By Crop Type
  6.2.3.By Country
6.3.Asia Pacific: Country Analysis
  6.3.1.China Plant Growth Regulators Market Outlook
    6.3.1.1.Market Size Forecast
      6.3.1.1.1.By Value
    6.3.1.2.Market Share Forecast
      6.3.1.2.1.By Type
      6.3.1.2.2.By Crop Type
  6.3.2.India Plant Growth Regulators Market Outlook
    6.3.2.1.Market Size Forecast
      6.3.2.1.1.By Value
    6.3.2.2.Market Share Forecast
      6.3.2.2.1.By Type
      6.3.2.2.2.By Crop Type
  6.3.3.Australia Plant Growth Regulators Market Outlook
    6.3.3.1.Market Size Forecast
      6.3.3.1.1.By Value
    6.3.3.2.Market Share Forecast
      6.3.3.2.1.By Type
      6.3.3.2.2.By Crop Type
  6.3.4.Japan Plant Growth Regulators Market Outlook
    6.3.4.1.Market Size Forecast
      6.3.4.1.1.By Value
    6.3.4.2.Market Share Forecast
      6.3.4.2.1.By Type
      6.3.4.2.2.By Crop Type
  6.3.5.South Korea Plant Growth Regulators Market Outlook
    6.3.5.1.Market Size Forecast
      6.3.5.1.1.By Value
    6.3.5.2.Market Share Forecast
      6.3.5.2.1.By Type
      6.3.5.2.2.By Crop Type

7.EUROPE PLANT GROWTH REGULATORS MARKET OUTLOOK

7.1.Market Size Forecast
  7.1.1.By Value
7.2.Market Share Forecast
  7.2.1.By Type
  7.2.2.By Crop Type
  7.2.3.By Country
7.3.Europe: Country Analysis
  7.3.1.France Plant Growth Regulators Market Outlook
    7.3.1.1.Market Size Forecast
      7.3.1.1.1.By Value
    7.3.1.2.Market Share Forecast
      7.3.1.2.1.By Type
      7.3.1.2.2.By Crop Type
  7.3.2.Germany Plant Growth Regulators Market Outlook
    7.3.2.1.Market Size Forecast
      7.3.2.1.1.By Value
    7.3.2.2.Market Share Forecast
      7.3.2.2.1.By Type
      7.3.2.2.2.By Crop Type
  7.3.3.Spain Plant Growth Regulators Market Outlook
    7.3.3.1.Market Size Forecast
      7.3.3.1.1.By Value
    7.3.3.2.Market Share Forecast
      7.3.3.2.1.By Type
      7.3.3.2.2.By Crop Type
  7.3.4.Italy Plant Growth Regulators Market Outlook
    7.3.4.1.Market Size Forecast
      7.3.4.1.1.By Value
    7.3.4.2.Market Share Forecast
      7.3.4.2.1.By Type
      7.3.4.2.2.By Crop Type
  7.3.5.United Kingdom Plant Growth Regulators Market Outlook
    7.3.5.1.Market Size Forecast
      7.3.5.1.1.By Value
    7.3.5.2.Market Share Forecast
      7.3.5.2.1.By Type
      7.3.5.2.2.By Crop Type

8.NORTH AMERICA PLANT GROWTH REGULATORS MARKET OUTLOOK

8.1.Market Size Forecast
  8.1.1.By Value
8.2.Market Share Forecast
  8.2.1.By Type
  8.2.2.By Crop Type
  8.2.3.By Country
8.3.North America: Country Analysis
  8.3.1.United States Plant Growth Regulators Market Outlook
    8.3.1.1.Market Size Forecast
      8.3.1.1.1.By Value
    8.3.1.2.Market Share Forecast
      8.3.1.2.1.By Type
      8.3.1.2.2.By Crop Type
  8.3.2.Mexico Plant Growth Regulators Market Outlook
    8.3.2.1.Market Size Forecast
      8.3.2.1.1.By Value
    8.3.2.2.Market Share Forecast
      8.3.2.2.1.By Type
      8.3.2.2.2.By Crop Type
  8.3.3.Canada Plant Growth Regulators Market Outlook
    8.3.3.1.Market Size Forecast
      8.3.3.1.1.By Value
    8.3.3.2.Market Share Forecast
      8.3.3.2.1.By Type
      8.3.3.2.2.By Crop Type

9.SOUTH AMERICA PLANT GROWTH REGULATORS MARKET OUTLOOK

9.1.Market Size Forecast
  9.1.1.By Value
9.2.Market Share Forecast
  9.2.1.By Type
  9.2.2.By Crop Type
  9.2.3.By Country
9.3.South America: Country Analysis
  9.3.1.Brazil Plant Growth Regulators Market Outlook
    9.3.1.1.Market Size Forecast
      9.3.1.1.1.By Value
    9.3.1.2.Market Share Forecast
      9.3.1.2.1.By Type
      9.3.1.2.2.By Crop Type
  9.3.2.Argentina Plant Growth Regulators Market Outlook
    9.3.2.1.Market Size Forecast
      9.3.2.1.1.By Value
    9.3.2.2.Market Share Forecast
      9.3.2.2.1.By Type
      9.3.2.2.2.By Crop Type
  9.3.3.Colombia Plant Growth Regulators Market Outlook
    9.3.3.1.Market Size Forecast
      9.3.3.1.1.By Value
    9.3.3.2.Market Share Forecast
      9.3.3.2.1.By Type
      9.3.3.2.2.By Crop Type

10.MIDDLE EAST AND AFRICA PLANT GROWTH REGULATORS MARKET OUTLOOK

10.1.Market Size Forecast
  10.1.1.By Value
10.2.Market Share Forecast
  10.2.1.By Type
  10.2.2.By Crop Type
  10.2.3.By Country
10.3.MEA: Country Analysis
  10.3.1.South Africa Plant Growth Regulators Market Outlook
    10.3.1.1.Market Size Forecast
      10.3.1.1.1.By Value
    10.3.1.2.Market Share Forecast
      10.3.1.2.1.By Type
      10.3.1.2.2.By Crop Type
  10.3.2.Saudi Arabia Plant Growth Regulators Market Outlook
    10.3.2.1.Market Size Forecast
      10.3.2.1.1.By Value
    10.3.2.2.Market Share Forecast
      10.3.2.2.1.By Type
      10.3.2.2.2.By Crop Type
  10.3.3.UAE Plant Growth Regulators Market Outlook
    10.3.3.1.Market Size Forecast
      10.3.3.1.1.By Value
    10.3.3.2.Market Share Forecast
      10.3.3.2.1.By Type
      10.3.3.2.2.By Crop Type

11.MARKET DYNAMICS

11.1.Drivers
11.2.Challenges

12.MARKET TRENDS DEVELOPMENTS

12.1.Recent Developments
12.2.Product Launches
12.3.Mergers Acquisitions

13.GLOBAL PLANT GROWTH REGULATORS MARKET: SWOT ANALYSIS

14.PORTER’S FIVE FORCES ANALYSIS

14.1.Competition in the Industry
14.2.Potential of New Entrants
14.3.Power of Suppliers
14.4.Power of Customers
14.5.Threat of Substitute Product

15.PESTLE ANALYSIS

16.COMPETITIVE LANDSCAPE

16.1.BASF SE
  16.1.1.Business Overview
  16.1.2.Company Snapshot
  16.1.3.Products Services
  16.1.4.Financials (As Reported)
  16.1.5.Recent Developments
16.2.Bayer Crop Science AG
16.3.Corteva Agriscience AB
16.4.Syngenta AG
16.5.Nufarm Limited
16.6.Sumitomo Australia Pty Ltd
16.7.TATA chemicals limited
16.8.Arysta Lifescience Ltd
16.9.FMC Corporation
16.10.UPL Limited

17.STRATEGIC RECOMMENDATIONS

18. ABOUT US DISCLAIMER