Plant Growth Regulators Market Analysis & Forecast | 2022-2028

Market Insights

The plant growth regulators market was expected to grow from USD 2.08 billion in 2021 to reach USD 3.58 billion by 2028 at a healthy CAGR of 7.98% during the forecast period of 2022-2028.

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What is a plant growth regulator?

The chemical substances that control the growth aspects and development within the plant completely are called Plant Growth Regulators. They are used to modify aspects line increasing branching, suppressing the growth of shoots, increasing return bloom, removal of excess fruit, or altering fruit maturity. There are numerous factors affecting the performance of Plant Growth Regulators such as how well the plant absorbs the chemical, vigour and age of the tree, dosage, timing, and the weather conditions before, after and during the application.

Market Dynamics

These factors are expected to boost the demand for the market in the coming year:

• Increasing investment in the agriculture sector globally And increasing the trend of organic farming.
• Global demand for all types of crops, like cereals, etc. is rising as a result of the rapidly increasing population, and changing consumer lifestyles.
• Due to the growing demand for the use of PGRs in fruit plants, the global trade and production of fruits are expanding.

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Key Players

Some of the key players in the plant growth regulators market are-

• Adama Agricultural Solutions Ltd.
• BASF SE
• Arysta Lifescience Corporation
• Bayer AG
• DuPont de Nemours, Inc.
• Nippon Soda Co Ltd.
• Nufarm Limited
• Syngenta AG
• Tata Chemicals Ltd.
• Valent Biosciences LLC.

Segments Analysis

Product Trend

The market is segmented as cytokinins, auxins, gibberlins, and ethylene. Cytokinin is estimated to be the largest product type in the market over the forecast period on account of its wide range of applications, making it useful in cell division, delay in senescence, dormancy breaking, and also being a growth stimulant.

Application Trend

The market is segmented as fruits & vegetables, cereals & grains, oil seeds & pulses, and turf & ornaments. Fruits & vegetables are estimated to be the fastest-growing application type in the market during the forecast period. Further, the growing population resulting in an increased demand for food and its production is the major factor fueling the segment growth over the forecast period.

Regional Insight

Europe is estimated to account for the major share of the market during the forecast period owing to growing consumer awareness regarding product usage and advantages, and rising disposable incomes in the region.

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On the other hand, Asia-Pacific is estimated to register the highest growth rate in the market on account of an increase in favourable agricultural policies for farmers made by the government and an increase in product knowledge among consumers, fueling the regional market demand over the forecast period.

Segmentation

The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The plant growth regulators market is segmented into the following categories:

By product type:

• Cytokinins
• Auxins
• Gibberlins
• Ethylene

By application type:

• Fruits & Vegetables
• Cereals & Grains
• Oil Seeds & Pulses
• Turf & Ornaments

By region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision-making for the existing players as well as those willing to enter the market.

The following are the key features of the report:

• Overview, industry life cycle and supply chain analysis
• Growth drivers and constraints, Porter’s five forces and SWOT analysis
• Trend and forecast analysis
• Segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors.

Customization Option

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Segmentation

• Current segmentation of any one of the product types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.