Plant Activators Market garner a revenue of USD 1.1 Billion by 2024 with a CAGR of approximately 6.8% during the forecast period of 2022–2030.
Plant activators of biological or chemical origin are substances that help in triggering the defense system in plants during biotic or abiotic stress conditions. The plant activators market is expected to garner a revenue of USD 880 million by 2024 with a CAGR of approximately 6% during the forecast period of 2019–2024. The major determinant driving the market growth of plant activators is the significant loss of crop production due to various biotic and abiotic stress conditions such as pest attack, drought, heat, and fungal and bacterial diseases. The evolution of farming technologies, along with the increasing adoption of integrated pest management practices are also catalyzing market growth. A surge in the sales of plant activators across the globe can also be attributed to the increasing farm expenditure, especially in the developed nations. However, the market growth is being hindered by various factors such as the unavailability of products in several developing countries and the heavy dependence of farmers in developing countries on chemical products. The market is expected to emerge lucrative for the vendors active in the market due to increasing awareness regarding the benefits of plant activators and increasing investments in the agriculture sector.
The plant activators market has been segmented based on source, form, mode of application, crop type, and region.
By source, the global market has been classified as biological and chemical.
The global market has also been segregated, on the basis of form, into powder, granules, and liquid.
Based on the mode of application, the market has been segregated into, foliar, soil treatment, and others
By crop type, the global market has been classified as pulses & oilseeds, cereals & grains, fruits & vegetables, and others.
The global market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American market has further been segmented into the US, Canada, and Mexico. The European market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The market in the rest of the world has been segmented into South America, the Middle East, and Africa.
Isagro (Italy), NutriAg Inc. (Canada), Syngenta (Switzerland), Plant Health Care (US), BASF SE (Germany), Gowan Company (US), Eagle Plant Protect Private Limited (India), Nihon Nohyaku Co. Ltd (Japan), Meiji Holdings Co. Ltd (Japan), Certis USA LLC (US), Arysta LifeScience Corporation (US), and Future Bioscience SA (Spain) are some of the key players in the global plant activators market.
Regional Market Summary
In 2018, Europe dominated the global market in terms of revenue due to the increasing focus on improving crop yield. Additionally, the decreasing cultivable land area in Europe is also a crucial determinant boosting the sales of plant activators in the region. The regional market expected to exhibit the highest CAGR during the forecast period is Asia-Pacific owing to the increasing investments by the key players in the region and increasing cultivation of fruits & vegetables. The major country-level markets contributing to the growth of the Asia-Pacific market are Japan, China, and New Zealand.
plant activators market is expected to expand at 6% CAGR from 2019 to 2024.
plant activators market size can reach USD 880 million by 2024.
The dip in crop production rates in recent years is the major driver of the global plant activators market.
Unavailability of products in certain regions can hamper the global plant activators market growth.
Europe can dominate the global plant activators market till 2024 due to large amount of arable land.
Gowan Company, Eagle Plant Protect Private Limited, Future Bioscience SA, Certis USA LLC, Isagro, NutriAg Inc., Meiji Holdings Co. Ltd, BASF SE, Arysta LifeScience Corporation, Plant Health Care, Syngenta, and Nihon Nohyaku Co. Ltd are major players currently working in the global plant activators market.