Plant Growth Regulators Market Research Report – Global Forecast till 2030

Plant Growth Regulators Market Research Report: Information by Crop Type (Fruits & Vegetables, Turf & Ornamentals) Product Type (Auxins, Gibberellins, Ethylene) Mode of Application (Fertigation, Foliar) Origin, Form, Function, Region - Global Forecast 2030

ID: MRFR/AGR/5729-HCR | February 2023 | Region: Global | 90 Pages         

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Plant Growth Regulators Market

Plant Growth Regulators Market is projected to register a CAGR of 10.23% and reach a value of USD 6.79 billion by 2030.

Segmentation
By Crop Type Pulses And Oilseeds Fruits & Vegetables Turf & Ornamentals
By Product Type Auxins Gibberellins Ethylene
By Mode of Application Fertigation Foliar
By Region North America Europe Asia-Pacific Rest Of The World
Key Players
Companies Profiled   China National Chemical Agrochemical Corporation (China)   Platform Specialty Products Corporation (US)   BASF SE (Germany)   Bayer AG (Germany)   DowDuPont (US)   NIPPON SODA CO. LTD. (Japan)   Nufarm Limited (Australia)   Sumitomo Chemical Co. Ltd. (Japan)   FMC Corporation (US)   Tata Chemicals Ltd. (India)   Xiny(H.K.) Industrial Co. Ltd. (China)
Drivers
Market Driving Forces   Ease of production and immediate & efficient results achieved by the application of these regulators
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Plant Growth Regulators Market Overview


Plant growth regulators market is expected to reach approximately USD 6.79 billion by 2030, at a CAGR of 10.23% from 2022 to 2030. Plant growth regulators are chemical substances that alter plant physiological processes and nutrients. Crop-specific product development has been the primary method used by the plant growth regulator business to increase global market penetration. The shrinking area under cultivation worldwide is putting pressure on scarce cultivable land to fulfill rising food demand. As a result, sales of plant growth regulators are expected to skyrocket to fulfill increased demand for agricultural products as they aid in the regulation of plant development. Furthermore, increased investment in agriculture, mostly in developing nations, will likely generate profitable prospects for market participants during the projection period.


Due to their ability to control shoot heights, avoid lodging in intensive cereal production, and stimulate latex flow in rubber plants. Compared to traditional fertilizers, these properties stimulate plant development and quicken the manufacturing process, which is projected to benefit market growth in the next years. Plant growth regulators are valuable production tools that can increase product quality and marketability while cutting labor costs for trimming, pinching, and maintenance. Over the last few decades, they have been a vital component of many horticulture and agricultural production systems.


Segmentation


The plant growth regulators market has been segmented based on origin, crop type, product type, form, function, mode of application, and region.


By origin, the global plant growth regulators market has been classified as natural and synthetic.


Based on crop type, the market is segregated as pulses & oilseeds, grains & cereals, fruits & vegetables, turf & ornaments, and others.


By product type, the global plant growth regulators market has been classified as auxins, gibberellins, ethylene, cytokinins, abscisic acid, and others.


On the basis of form, the market is segregated into granules, powder, and liquid.


Based on function, the global plant growth regulators market is segmented into plant growth promoters and plant growth inhibitors.


By mode of application, the market is categorized as fertigation, foliar, and others.


The global plant growth regulators market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.


The North American plant growth regulators market has further been segmented into the US, Canada, and Mexico. The European plant growth regulators market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The plant growth regulators market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The plant growth regulators market in the rest of the world has been segmented into South America, the Middle East, and Africa.


Regional Market Summary


Global Plant Growth Regulators Market Share (%), by Region, 2021


Plant Growth Regulators Market  Share


Source: Secondary Sources and MRFR Analysis


Asia-Pacific is expected to grow with the highest CAGR during the forecast period due to the presence of several market players in the region and surging agricultural exports. Europe is expected to account for the largest revenue share in the global plant growth regulators market. The regions dominance can be attributed to the rising preference of consumers towards natural and organic food products. In addition, surge in crop production and increasing government initiatives in Europe’s agriculture industry are also driving the region’s market growth.


Global Plant Growth Regulators Market, by Origin



  • Natural

  • Synthetic


Global Plant Growth Regulators Market, by Crop Type



  • Pulses & Oilseeds

  • Grains & Cereals

  • Fruits & Vegetables

  • Turf & Ornaments

  • Others


Global Plant Growth Regulators Market, by Product Type



  • Auxins

  • Gibberellins

  • Ethylene

  • Cytokinins

  • Abscisic Acid

  • Others


Global Plant Growth Regulators Market, by Form



  • Granules

  • Powder

  • Liquid


Global Plant Growth Regulators Market, by Function



  • Plant Growth Promoters

  • Plant Growth Inhibitors


Global Plant Growth Regulators Market, by Mode of Application



  • Fertigation

  • Foliar

  • Others


Global Plant growth regulators Market, by Region




  • North America

    • US

    • Canada

    • Mexico




  • Europe

    • Germany

    • France

    • Italy

    • Spain

    • UK

    • Rest of Europe




  • Asia-Pacific

    • Japan

    • China

    • India

    • Australia and New Zealand

    • Rest of Asia-Pacific




  • Rest of the World (RoW)

    • South America

    • Middle East

    • Africa




Key Players in the Plant Growth Regulators Market



  • China National Chemical Agrochemical Corporation (China)

  • Platform Specialty Products Corporation (US)

  • BASF SE (Germany)

  • Bayer AG (Germany)

  • DowDuPont (US)

  • NIPPON SODA CO., LTD. (Japan)

  • Nufarm Limited (Australia)

  • Sumitomo Chemical Co., Ltd. (Japan)

  • FMC Corporation (US)

  • Tata Chemicals Ltd. (India)

  • Xiny(H.K.) Industrial Co., Ltd. (China)


Recent Development

  • Mar 2022 Saffire Crop Science, a new business in agrochemical retail founded by Crystal Crop Protection Limited, will harness technology to offer global-standard goods and services. Saffire will bring in a technology revolution in crop solutions and services, making them more accessible. The new company will offer a comprehensive range of agrochemical products and services, all made possible by innovative techniques and technology, resulting in enhanced profitability for all players in the farming value chain. Saffire now has a product portfolio of more than 50 chemicals, including insecticides, plant growth regulators, herbicides, fungicides, and bio-stimulants.


Intended Audience



  • Plant growth regulators manufacturers

  • Raw material suppliers and distributors

  • Industry associations

  • Traders, exporters, and importers



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 6.79 Billion
  CAGR   10.23%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Crop Type, Product Type, Mode of Application, Origin, Form, Function, and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   China National Chemical Agrochemical Corporation (China), BASF SE (Germany), Platform Specialty Products Corporation (US), Bayer AG (Germany), NIPPON SODA CO., LTD. (Japan), DowDuPont (US), Nufarm Limited (Australia), FMC Corporation (US), Sumitomo Chemical Co., Ltd. (Japan), Xiny(H.K.) Industrial Co., Ltd. (China), and Tata Chemicals Ltd. (India)
  Key Market Opportunities   Increased investment in agriculture, mostly in developing nations
  Key Market Drivers   Ease of production and immediate & efficient results achieved by the application of these regulators


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Frequently Asked Questions (FAQ) :

Fertigation is the largest application segment in the global plant growth regulators market.

Ease of production and immediate & efficient results achieved by the application of these regulators, are major tailwinds pushing the growth of the global plant growth regulators market.

China National Chemical Agrochemical Corporation (China), BASF SE (Germany), Platform Specialty Products Corporation (US), Bayer AG (Germany), NIPPON SODA CO., LTD. (Japan), DowDuPont (US), Nufarm Limited (Australia), FMC Corporation (US), Sumitomo Chemical Co., Ltd. (Japan), Xiny(H.K.) Industrial Co., Ltd. (China), and Tata Chemicals Ltd. (India), are some of the top players operating in the global plant growth regulators market.

Europe holds the largest share in the global plant growth regulators market, followed by North America and the Asia Pacific, respectively.

High costs of the product is a major growth impeder for the global plant growth regulators market.